Lost Lantern Launches Seed Financing Effort

News

May 5, 2022

Lost Lantern

Lost Lantern, the award-winning independent bottler of American whiskey that launched its first whiskies in late 2020, announced a $1 Million oversubscribed seed financing round to expand its marketing reach and further invest in its Vermont headquarters.

Backers include FreshTracks Capital, the Vermont Seed Capital Fund, the Dudley Fund, and the Burlington Telecom Innovation Fund, as well as a group of independent angel investors.

Lost Lantern was founded by spirits industry veterans Nora Ganley-Roper and Adam “Apolon” Polonski. Ganley-Roper served as Sales Manager of Astor Wine and Spirits in New York, one of the country’s largest independent retailers of fine whiskeys, while Polonski was an editor and Senior Whiskey Specialist at Whisky Advocate, where he wrote about and reviewed some of the world’s best whiskies.

Together, they are pioneering a new business model in craft spirits, adapted from a long tradition in Scotch whiskey called independent bottling. Lost Lantern finds and sources the most unique whiskies being made across the country. The company partners with Village Garage Distillery in Bennington to store and bottle its whiskies, which are released as single casks and blends with full transparency on their origin. Each new whiskey offering is limited in quantity, and many sell out within hours of being announced.

“I had the great pleasure of coaching Lost Lantern’s founders in the LaunchVT Accelerator Program last year, and I knew right away that Nora and Apolon were on to something big, and that they also had exactly the right experience and skill-set to build this incredible business,” said T.J. Whalen, Managing Director at FreshTracks Capital, in a news release.  “I was not at all surprised when they won the LaunchVT demo day pitch competition’s Audience Choice Award. I’m thrilled to have the opportunity to have FreshTracks Capital invest in the company and to help them on their journey to create another great business here in Vermont.”

Lost Lantern’s luxury whiskies are earning high praise from whiskey connoisseurs and critics. Their flagship American Vatted Malt was named the ‘Best American Blended Malt’ at the 2022 World Whiskies Awards, and Lost Lantern recently received Double Gold and Gold medals for whiskies at the San Francisco World Spirits Competition.

In addition, Lost Lantern’s innovative adaptation of the Scotch independent bottler model has been covered by top media outlets including the New York Times, San Francisco Chronicle, Forbes, Wine Enthusiast, and many others.

“As a Vermont native myself, it’s exciting to see so many investors in Vermont get involved and join our vision to create this new business model for American whiskey,” said Lost Lantern’s co-founder, Nora Ganley-Roper “We are humbled by the level of community support in Vermont, and the national recognition our products are receiving.”

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