Winemaker Chapel Down overfunds to raise £1.7m from crowd
Kent-based business will use funds to build a new brewery for its early-stage Curious Drinks craft beer and cider brand
Chapel Down Wines, a Kent-based wine producer, has smashed its £1m crowdfunding target to raise a total of £1.7m on Seedrs, with £550,000 coming from a share placing.
The campaign saw 895 shareholders invest between £100 and £35,000 in exchange for a share of 5.88% equity, as well as an ongoing 25% discount, and limited edition bottles.
Launched in 2001, publicly-listed Chapel Down produces a range of sparkling and still wines, as well as craft beer and cider for its early-stage Curious Drinks brand.
The company supplies wines to the likes of Gordon Ramsay and Jamie Oliver, the Royal Opera House, The Donmar Warehouse, and the Turner Contemporary.
This latest funding will be used to build a new brewery and visitor attraction in Ashford, Kent, and will also support new hires for its Curious Drinks team to help raise its profile in the UK and abroad.
In October 2014, Chapel Down broke crowdfunding records when it closed £3.95m fundraising in just three weeks on the equity-based crowdfunding platform Seedrs.
Frazer Thompson, CEO of Curious Drinks, said: “The success of our Curious Drinks crowdfunding campaign is further testament to the revolution taking place in the British beer business.
“Since launching Curious Drinks, we have been thrilled by its rapid success. But to have earned the support of 895 shareholders who believe in the brand and who want to support us on our journey with their hard earned cash is truly humbling.”
To find out more about crowdfunding and how to launch a crowdfunding campaign, click here.