Seeking to expand its already successful business, Camden-based startup, LICKALIX launched an equity crowdfunding campaign on Crowdcube to raise £225,000 for its natural ice lolly company.
According to its campaign, LICKALIX is an augural ice lolly company that debuted in May 2014. After a successful first period of trading, the company’s team decided to continue their success in 2015 and distribute nationally. The company’s products take the best natural ingredients to make tasty, healthy, great looking and inventively flavored ice “lolls” for those young and old. Each of the lolls are gluten, dairy and lactose free with a minimal amount of sugar (approx. 57% less than a traditional lolly or Calippo) and have 62 calories or less each. The company is also in the early stages of developing sugar-free products.
While sharing details about the company’s marketing opportunities, Dominic Gesua and Karis Layne stated, “In our appraisal, there is no strong national brand of healthy ice lollies sold in the UK, either in retail outlets, or in any of the 5,000 ice cream vans nationally. The gourmet, healthy “Popsicle” market has grown in the last few years in the US; we believe the UK will follow the US trend, and this represents a clear opportunity for us as early entrants. Whilst ice cream has undergone a shift towards premium and improved ingredient provenance, and frozen yogurt has grown significantly in recent years despite its high sugar content, ice lolls have remained a poor product: sugared water with no nutritional benefits. Our lolls have been hugely popular in 2014 and demonstrate that with consumer attention becoming increasingly drawn to the sugar levels in food, natural ice lollies are a product with much untapped potential in an established high value sector.”
During a recent interview, co-founder of LICKALIX, Gesua, shared, “The ice cream, frozen yogurt and frozen treats market in the UK is worth more than £1.1 billion but there are limited healthy options available. With consumers increasingly looking for food products that are lower in sugar and fat and free from additives but that still taste delicious, ice lollies need to move with the times. We’ve already seen how frozen yogurt has taken off as a healthier alternative to ice cream…why not ice lollies too?”
In line with the company’s social, ethical and environmental principles, LICKALIX sources fresh fruit from local producers and wholesale markets, such as New Spitalfields, and endeavours to use organic and fair trade ingredients wherever possible. It employs on a social enterprise basis and minimizes food waste by providing leftover produce to feed the pigs at Stepney City Farm. LICKALIX was selected by Jamie Oliver’s Drinks Tube and Food Tube channels to present a series of ice lolly recipes on YouTube in 2014, which achieved more than 100,000 views.
“We had a really busy summer, getting to know our customers, developing new flavors and building our brand and distribution network across London,” Layne explained. “Having sold thousands of lollies, the feedback we got from customers, retailers and key influencers was fantastic. We’re really excited to be working with Crowdcube and look forward to growing our share of this high-value market in 2015.”
In regards to why they choose Crowdcube for the company’s pitch, the team added, “The funding will allow us to scale up our existing successful efforts at a faster rate than would be achievable organically. The funding will be used primarily to purchase higher volume production equipment, and to achieve a bigger production and distribution capability.”
Set to close on December 20th, the campaign has so far raised £35,650. Those who seek to fund the project will be offered with 10.00% in equity.
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