8O8 Whisky doubles crowdfunding target to smash £631,932 on Seedrs
The London-based drinks brand will use the funding to expand sales in Europe, Asia and the USA - and counts DJ Pete Tong as an advisor
A London-based whisky brand has doubled its original crowdfunding target to raise £631,932 on Seedrs.
808 Whisky, who produce a grain whisky that can be served both neat and as part of a cocktail, smashed its original target of £300,000 by 211%.
Positing itself against traditional whiskys, 808 hope its signature blend will “define today’s music loving generation” and prove to be “a big hit in some of the world’s greatest and most prestigious clubs and bars” – with the brand already stocked by the likes of Ministry of Sound and Fabric.
Launched by Tommy Danvers and Paul Pullinger in 2016, the former is perhaps best known by the moniker DJ TommyD and has worked with the likes of Kanye West, Jay Z, Beyoncé and Noel Gallagher.
Taking its name from the TR-808 drum machine, much loved in the electronic music scene, the start-up boats several senior figures from the world of music and the drinks industry.
Max Lousada Warner Music UK CEO, ex-Red Bull chief Harry Drnec, ex-CEO of North British Whisky Distillery David Rae and world famous DJ Pete Tong are all advising or investing in the business.
In total, 274 investors on Seedrs will now have a 9.12% stake in the business as well as receiving a number of incentives.
Backers who pledged more than £50 will now have access to early-bird bookings for exclusive 8O8 events, while those who pledged up to £5,000 or more will have a chance to meet the founders.
808 will use the funding to expand its sales team in Europe and drive international expansion to the USA and Asia.
“We are truly humbled by the response to our campaign. To smash through the target within a week is one thing but to finish with over 200% of our expected amount is a huge acknowledgment that we are doing something exciting and groundbreaking in the spirits world.
“We are thrilled about the prospects for 8O8 and delighted that the additional funding will help us achieve our ambitions in a more timely way supported by a like minded group of investors that appreciate the power of music and whisky. Watch this Pace!”