Knoops, which is currently raising funds via Crowdcube, explains that it celebrates the ritual of drinking chocolate, specializing in “expertly crafted” hot & cold drinks; aiming to do what was done for barista coffee.
According to Knoops, it is raising funds in order “to grow from 20-30 UK stores; to grow their current +£2m p.a. retail, wholesale & online business; and to grow international presence.”
Based in the United Kingdom, Knoops has so far raise £1,581,936 raised (at the time of writing) via its crowdfunding campaign that is being carried out through Crowdcube.
At present, there are 1,196 investors who have contributed to the crowdfund effort initiated via Crowdcube by Knoops. Notably, the firm has so far secured 451% of its fundraising target.
Here’s some key information that has been shared by the team working at Knoops:
The company has now reportedly raised £1,581,936 with an initial target of £350,000.
The funding round is for an equity stake of 5.16% at a pre-money valuation of £29,100,000. The offering has been qualified for EIS which adds tax benefits for investors. The offering on Crowdcube is part of a larger round and Knoops states that it has raised £716,000 off-platform investments prior to the listing on Crowdcube.
Additionally, as part of the £716,000 in funding, £100,000 has been “reflected onto the progress bar. FY24 vs FY23 growth rate of 110%. Online LFL growth 130%.”
They aim to “create and lead the market – UK promotion partner for Warner Bros 2023 Wonka film National store estate introduces customers to the Knoops category and our retail flakes at home.”
Their engaged Board members and investors have “built multi-channel, billion-dollar global brands.”
Across the world, they claim to see chocolate drinks “as an afterthought – often low-quality, powdered products which we view as akin to 1980s instant coffee.”
The focus on coffee has left the chocolate market behind. More people “reject alcohol and seek coffee alternatives on the high street and at home.”
Knoops shares that the global chocolate market is estimated at around $119.39bn as of 2023. They believe there are few specialist drinking chocolate brands that are competitive to their product.
Knoops says the funds raised will be utilized to open new stores in the UK and to increase retail production as well as international expansion.
Over £12 million in funding has bee raised to date from “aligned leading investors.”
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!
