The Cotswolds Distillery has raised more than £1.5m in a fundraising round in just one month.
Funds from the round, which was more than 50% oversubscribed, would be used for a variety of projects including a new bottling hall to help launch the distillery’s inaugural whisky as well as a larger visitor centre.
The expansion of the distillery, which sells more than 100,000 bottles of its Cotswolds Dry Gin in 16 countries worldwide, followed the brand’s “unprecedented growth” since it began production in 2014, said founder and ceo Daniel Szor, adding it was on track to turn over in excess of £2m in 2017.
With premium spirits an “exciting and fast-growing” sector, the opportunities for a “progressive” brand like The Cotswold Distillery were limitless, he said.
“We are overjoyed by this great vote of confidence in the company and our ambitious plans for the future can now be realised thanks to the fantastic investor demand we’ve seen in this recent round.”
The distillery represents an investment of over £5 million, which has been sourced from the founder and his family and backed by local investors. Last year the distillery expanded its investor base through its £1 million Angels’ Share crowdfunding campaign, to over 100 new backers. This latest equity round was raised entirely from the existing investor bank, and reflects confidence in the brand’s rapid recent growth and performance.
This October will see the launch of the distillery’s flagship product, Cotswolds Single Malt Whisky, which has been three years in the making.
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