A high-profile startup that sought to popularize a K-Cup cocktail machine is shutting down and is offering to refund customers who already bought its countertop appliance.

Drinkworks, a joint venture between Keurig Dr Pepper Inc. and Anheuser-Busch InBev SA, will no longer sell its automated cocktail-making machines, the company said in a statement on its website dated Dec. 15.

“We...

A high-profile startup that sought to popularize a K-Cup cocktail machine is shutting down and is offering to refund customers who already bought its countertop appliance.

Drinkworks, a joint venture between Keurig Dr Pepper Inc. and Anheuser-Busch InBev SA, will no longer sell its automated cocktail-making machines, the company said in a statement on its website dated Dec. 15.

“We made the difficult decision to close Drinkworks, with sales of Drinkmaker machines ceasing immediately,” Drinkworks Chief Executive Nathaniel Davis said.

Cocktail pods and accessories will continue to be sold through its website or at retailers through the end of March or until supplies last and customers have until Feb. 28 to apply for reimbursement, it said.

Drinkworks’ Home Bar Classic machine, which launched in October, sold for $299 while a premium version sold for $349. Its cocktail pods are sold for around $4 to $5 per drink.

AB InBev has been looking beyond beer for growth as the world’s biggest brewer grapples with a shift among U.S. drinkers from beer to spirits.

“We continue to invest heavily in our innovations—both in beer and beyond beer—to meet consumer needs on different occasions,” an AB InBev spokeswoman said, adding the company continues to review its portfolio to ensure its resources are behind high-growth brands.

Keurig, meanwhile, has been trying to replicate the success of its namesake single-cup, coffee-brewing device.

In 2016, Coca-Cola Co.

and Keurig struck a similar partnership to sell single-serve machines for cold soft drinks. The companies discontinued the Keurig Kold after the home soft-drinks machine failed to catch on. Many consumers balked at the price of the machine, which initially cost $369. The pods also were expensive, costing $1.25 to make an 8-ounce drink. And the machine took about 60 seconds to make a single serving, much longer than it took to grab a can of soda from the fridge.

Drinkworks introduced the Drinkmaker to St. Louis in 2018 as part of an early-access pilot program and expanded to more states in the ensuing years. It was available nationally in June of last year.

“Our Drinkworks joint venture with Anheuser-Busch enabled us to explore the possibilities of a single-serve alcohol drink system. We look forward to applying the insights gained toward new beverage innovations throughout our core business,” a Keurig spokeswoman said in a statement.

Write to Kimberly Chin at kimberly.chin@wsj.com