Craft brewery Innis & Gunn is set to close its equity crowdfunding campaign on Crowdcube with nearly £2.3 million in funding. The UK-based brewer launched the initiative earlier this month, seeking £1 million and smashed the funding target in 72 hours.
Innis & Gunn was founded in 2003 and claims to be the second-largest craft brewer in the UK. The brewery recently opened its first bar-restaurant, The Beer Kitchen, in Edinburgh and within a matter of six months, it won the Best New Concept Award in casual dining and the brewery reportedly acquired Perth-based Inveralmond Brewery after capturing £3.1 million from a “BeerBond” and BeerBucking funding program.
Founder and master brewer at Innis & Gunn, Dougal Sharp, previously shared:
“When we started in 2003, the craft beer scene in the UK was virtually non-existent. Through perseverance, hard work, and outstanding beer, we have been able to play a key role in spearheading the growth of the movement in the UK and in turn build a successful international business selling our beers in over 20 markets. We have remained steadfast in our mission to expand the possibilities of what beer can be by pioneering innovative methods of imparting flavor.”
In a recent update, the Innis & Gunn team stated:
“Thank you to everyone who contacted us over the weekend. Welcome to the Innis & Gunn community, which now has 1,699 new members. For those of you who would like to join but who have not yet invested, time is now running out. We are closing the crowdfunding platform at midnight on Tuesday. This is the only time in our 13-year history that we have ever made equity in Innis & Gunn available on a crowdfunding platform, so if you are interested in joining our Innis & Gunn community and owning part of a leading UK craft brewery this is the moment to act. For those of you who spend time in airports know, on the announcement board there are the three stages of catching or missing a flight: ‘Go to Gate,’ ‘Boarding,’ ‘This is a last call for the few remaining passengers wishing to travel on.’ If Innis & Gunn was a flight I think that we are now calling out for the few remaining passengers wishing to travel with our craft beer community. Don’t miss your flight!”
The company also answered when the funds would be taken from investors’ banking accounts:
“Once a pitch has been closed to further investment (in our case on 29th November) we will send all investors an email providing 7 working days to review the investment opportunity and read the Articles of Association. After this period has expired we will collect payments from all investors within 2-3 working days.”
Funds from Innis & Gunn’s Crowdcube initiative towards the expansion of The Beer Kitchen retail experience in 2017 to England, a year ahead of schedule, and international expansion into North America.
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!