Less than two years after completing its first equity crowdfunding campaign on Crowdcube, London-based juice brand, Daily Dose, has returned to the funding portal and has now secured its initial £300,000 funding target thanks to more than 200 investors.
As previously reported, Daily Dose currently produces 100% fresh unprocessed cold-pressed juice. The company delivers its products twice a week to cafes, coffee shops, and restaurants. It also produces bulk “white label” juice that is offered to a higher volume customer. Daily Dose also stated it aims to get the freshest possible juice to its customer and based its distribution on the “Milk Man Model” in order to overcome short shelf life.
“We produce our drinks in Battersea using, when possible, in-season British organic wonky produce. We source fruit which may otherwise go to waste and work with a farm who collects our pulp to feed to livestock.”
Daily Dose also revealed that since 2016, monthly turnover has increased by 1400% from £5.5k to £85.3k in July 2018. Revenue to YE Aug 2018 was £573k (-£50k EBITDA). With monthly sales recently averaging 40,000+ bottles, our aim is to sell 1.5 million bottles next year. The company noted:
“Our growth has come at a time when demand for sustainable, locally produced, and healthy high-quality products has increased. Consumers are becoming more aware of what is in food and drink, as well as where and how it is made. We have expansion plans which we believe we are on track to hit.”
Funds from the Crowdcube round will be used to continue Daily Dose’s growth and development. It is set to close at the beginning of November.
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