Just a little over three years after successfully securing £505,310 through its first equity crowdfunding campaign on Seedrs, French vineyard and winery Domaine du Grand Mayne, returned to the funding portal to raise £100,000.
The Domaine du Grand Mayne team stated the vineyard, which has classic Bordeaux grape varieties, is located in the Côtes de Duras, 50 miles from Bordeaux. Since 2015, the company has invested in the vineyard, winery, and brand in order to improve quality and production.
“As far as we know, there are very few wineries making wine available direct from the vineyard on-line for UK delivery. We also run a system that enables customers to benefit from the significantly lower French duty rates, by buying and collecting wines for their personal consumption from either the vineyard or from our warehouse in Calais.”
The company also reported that it has noticed a significant growth in the last three years and when it started selling shares through Seedrs in 2015, its grape harvest from 2014 had produced an equivalent of 160,000 bottles. The harvest in 2015 was more than 170,000 bottles equivalent, and 2016 saw more than 220,000 bottles.
“The most important part of our income is from the sale of our wines. Other sources of income include lettings from the vineyard properties, and fees from using our sophisticated harvesting machine to pick grapes for other vineyards.”
Speaking about where the funds from the latest Seedrs round will go towards, the company reported:
“The funds we raise now will be used both to continue to enhance the assets that we already own, and to improve the market position of Domaine du Grand Mayne internationally. Firstly, we will continue with planting of new vines to increase yields and quality. In 2016 we implemented a programme of infilling rows of vines and the next stage will be replacing any low yielding rows entirely. Secondly, we will invest further in our facilities to create even better wines and to provide an improved customer experience for visitors. Enhancements to the to the barrel cellar are our priority.”
Since its debut, Domaine du Grand Mayne’s second round of funding has raised more than £60,000 from nearly 150 investors. It is set to close this summer.
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