Ethical food producer raises £250,000 on Crowdcube
Organic snack producer Inspiral is set for a branding and pricing overhaul following a successful £250,000 crowdfunding campaign on Crowdcube.
The start-up, which develops healthy, cholesterol-free dried kale snacks, has grown to 30 employees in under two years, with a turnover of £1m.
The new funding, which saw 119 investors pledging their cash in 16 days, will enable the company to develop new branding and lower its prices from £3.49 per pack to £2.19. The company, which grows its own kale in East Anglia, will also develop and use completely compostable packaging, set to increase the product’s shelf life by an extra six months.
Currently distributing to 500 health food stores across the UK and northern Europe, the founders of Inspiral are hoping that the re-launched product will help them to reach a wider market and are currently undergoing talks with Graze and Marks and Spencer. With almost £100,000 of the £250,000 target pledged in the last 24 hours, investors are set to benefit from a combined equity share of 10%.