Startups Awards winner secures £150,000 in second crowdfunding round
Righteous Ltd reaches target on Crowdcube in less than four weeks
Healthy salad dressing producer Righteous Ltd has reached its funding target of £150,000 on crowdfunding site Crowdcube.
The cash injection, which comes from 86 investors, marks the second successful crowdfunding pitch for the start-up, following a £75,000 Crowdcube campaign in 2012.
The company, which was named Home-based or Freelance Business of the Year at the Startups Awards 2012, secured the funding in fewer than four weeks, meaning that founder Gem Misa persuaded investors in less than half the designated pitching time.
The latest investment, which offered up a total of 15% of Righteous Ltd’s equity, is set to support the salad dressing producer as it expands both nationally into Sainsbury’s and internationally into the US.
The company, which currently stocks in Tesco, Waitrose and Booths hopes that the new funding and consequent growth will help the firm to increase turnover from £100,000 in 2012 to £700,000 by the end of 2013 and £1.1m the following year.