Startups Awards winner launches £150,000 crowdfunding campaign
Righteous Ltd seeks investment on Crowdcube following successful 2012 pitch
Righteous Ltd is seeking a second round of funding through Crowdcube.
The healthy salad dressing producer, named Home-based or Freelance Business of the Year at the Startups Awards 2012, has today launched a £150,000 crowdfunding campaign.
The pitch follows the success of Righteous’ Crowdcube campaign last year, which saw the firm secure a £75,000 investment to finance a TV advertising campaign.
With Righteous salad dressing sales in supermarkets such as Tesco, Waitrose and Booths rising 30% after the advertising campaign, the firm saw a turnover of over £100,000 in 2012.
The salad dressing producer is now hoping to secure extra funding to support its expansion, following a contract with Sainsbury’s and a deal with three new distributors across England, Ireland and Scotland.
With a distribution deal with a US store in place, the firm is also hoping to use the funding to finance its international expansion and forecasts a turnover of £700,000 for the end of 2013.
With forecasts rising to £1.1m for the following year, Righteous is offering a 15% share of equity.