England wine producer, Chapel Down (EPIC: CDGP), announced on Wednesday that its beer and cider business, Curious Drinks Limited (“Curious Drinks”), has raised more than £1m through a placing and a crowdfunding campaign with Seedrs, one of the world’s leading equity crowdfunding platforms, surpassing its target in 27 days.
The crowdfunding campaign launched last month and remains open until February 29th. Curious Drinks intends to raise up to £3.65 million, being the maximum amount that can be raised. So far,£655,300 has been raised through the crowdfunding, which enables both customers and traditional investors to participate in the offer. £345,000 has been raised through the Placing, including £275,000 from the directors of Curious Drinks and Chapel Down.
The new funds will be invested to enable Curious Drinks to meet the ever growing demand for its beers and cider, both from the UK and internationally. Proceeds will be used to construct a new brewery and visitor attraction in Ashford, in the heart of Kent, offering ideal transport links to London and the continent.
The brewery, which is expected to be fully operational by December 2016, will enable Curious Drinks to consolidate its brewing and bottling operations into a single site, significantly enhancing margins and efficiencies. Proceeds will also be used to further strengthen the Curious Drinks team, enhance its domestic and international routes to market and further develop the brand.
Frazer Thompson, CEO of Chapel Down and Curious Drinks, added:
“We are delighted with how the Curious Drinks fundraising has gone in its first four weeks and are truly humbled by the phenomenal response we have received. We have seen a huge amount of interest from both customers and individual investors. We believe this is testament to the fact that these are not only great beers and cider but also a worthy investment opportunity, and we hope to welcome many more shareholders to Curious Drinks in the coming months.”
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!