With its equity crowdfunding campaign on Crowdcube set to close on Tuesday, milkshake company Canny has successfully secured its initial 100,000 funding target thanks to more than 300 investors. Established in 2015, Canny notably sells natural and low sugar milkshakes that are now listed to more than 200 stores across the UK and Virgin Trains. After selling 500 cartons in January 2016, the company stated it quickly moved to sell 10,000 cartons by July 2016.
“Most milk-based drinks contain additives and sugar. We offer an alternative for the consumer that maintains a fantastic taste & is 100% natural, provides 11 grams of protein per bottle, and has less than 5% sugar.”
The company initially launched four flavors but then decided to refocus on its Chocolate drink and rebranded in February 2017. It then developed a no added refined sugar option, which was set to be launched this summer. Canny also reported it has been recognized as one of the top 17 business’s to watch in the North East for 2017 and was featured in The Grocer, Food Manufacture, Dairy reporter, Business Quarterly, and Food & Drink International. The company recently explained why it decided to use the crowdfunding method:
“The crowdfunding campaign will ensure we realize our potential to get this to the 4 corners of the globe..but let’s start in the UK first! We are all over the place at the moment meeting customers, suppliers, networks, and investors.”
Funds from the campaign will be used for expansion of travel and wholesale along with pushing its new refined-sugar free product to the market.
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