Chapel Down, a British leading wine producer based in Kent, has raised £1.7 million from new shares and a crowdfunding campaign to build a new beer and cider brewery.
The group’s campaign for its Curious Drinks brand, which went live on the Seedrs crowdfunding platform in October last year, has raised £1,710,700million, exceeding its original £1 million target by 71 per cent.
It has attracted investment from 895 shareholders, each investing from £100 to £35,000.
Nearly a third of the investment came from people living in Kent, which demonstrated the support of the local community, according to Chapel Down.
Shareholders will now benefit from a range of rewards such as an ongoing 25 per cent discount and limited edition bottles.
The new brewery alongside a visitor attraction will be built in Ashford, Kent. Construction is expected to begin in summer 2016 with the brewery set to be fully operational by spring 2017.
Funds will also go intro branding and sales, according to Chapel Down.
Frazer Thompson, Chief Executive officer of Curious Drinks, said he was thrilled with the brand's rapid success.
“The success of our Curious Drinks crowdfunding campaign is further testament to the revolution taking place in the British beer business. Customers want great beer and we’re delighted that they love Curious as much as we do,” Thompson said.
Chapel Down’s half-year results showed its sales rose 33 per cent to £3.25 million in the first six months of 2015, with wine accounting for £2.28 million of that and beer and cider making up the remaining £974,000.
