Nc’nean, a UK-based independent distillery that is on a mission to drive sustainability and innovation in Scotch whiskey, is now seeking £1 million through its equity crowdfunding round on Seedrs.
Started in 2017, Nc’nean, which comes from Neachneohain’ the Queen of Spirits in Gaelic legend, stated it is becoming known for having a truly differentiated approach, both to making whiskey and other spirits. The company noted that its first product, the Nc’nean Botanical Spirit, has been well received by consumers and the trade and was recognized as one of the top 10 most innovative spirits of 2018.
“We believe that Scotch is not being adopted by younger drinkers because they perceive it as elitist or old fashioned. And that the Scotch whisky industry is failing to keep up with the ever-changing world around it. Our mission is to change that. We are doing that by distilling spirits and developing products that quietly challenge the status quo. Our first product, the Nc’nean Botanical Spirit, has done just that.”
Nc’nean also revealed that it has sold £360,000 worth of whiskey in the barrel to private individuals, showing great demand for our product before we have even released a bottle.
“As we have for our Botanical Spirit, we plan to sell our whisky directly, as well as through the off and on trade. Direct (at the distillery, via our website) is likely to be small, though we aim for this to be higher margin. In the UK, we plan to initially to appoint a distributor in order to benefit from their sales team, logistics and relationships with wholesalers. We may choose over time to develop our own sales team. At the moment we work with Highball brands, a UK distributor, but also have direct relationships with key retailers (e.g. Berry Brothers).”
Funds from the Seedrs round will be used for the following:
- Marketing and sales efforts to launch Nc’nean’s whiskey in summer 2020
- Continue laying down spirit for future whiskey stocks
- Capital investment, primarily in a house for staff accommodation and a bottling line
Since its launch, the campaign has raised more than £950,000. The distillery is offering 5.68% in equity at a £16,609,718 pre-money equality. The funding round is set to close later this winter.
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