Skinny Tonic, a UK-based beverage brand, has successfully secured its initial £500,000 equity crowdfunding target on Seedrs. The company is offering 8.07% in equity through the campaign at a £5,693,455 pre-money valuation. The funding round forms an extension of an additional £265,358 raised between July and September 2019.
“Originally inspired by a diagnosis of type one diabetes at the age of 23, Ian [Minton] has created a tonic water that allows him to enjoy a G&T without the fear of his blood sugars spiking. Having tested the product on family and friends in the early days, it was the introduction of the natural sweetener stevia, that allowed Ian to create the first 100% natural, zero calorie tonic water. Since the start of Ian’s dream in 2014, Skinny Tonic is now listed nationwide with a major retailer and outselling some of the big boys like Schweppes 1783.”
Skinny Tonic also reported that it is listed nationwide with Asda and was nominated for the 2019 innovation awards. The company is currently outselling 150ml Schweppes 1783 per store per week across major supermarkets. It also has a listing with Amazon, 31 Dover, Muscle Food and Costco as well as have an agreement to launch with another national retailer in the first quarter of 2020.
In regards to what the Seedrs funds will be used for, the Skinny Tonic team added:
“Our main investment will be into marketing Skinny Tonic and on trade launch. We will use funds to recruit a sales and marketing team. The balance of funds will be spent on increasing our production capacity and product development ensuring that we remain ahead of the competition in taste tests, design and innovation.”
The campaign is set to close mid-January.
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