Richmond-based One Gin, which has its gin variants and its gin & tonic canned flavours stocked in selected Fuller’s pubs and has significant off-trade listings too, has raised more than £216,000 via fundraising platform Crowdcube from 178 investors.
Its original target of £205,000 was beaten with more than 20 days left of the campaign that will offer equity of 10.74% giving it a pre-money valuation of £1.8m.
Accelerate growth plans
In an update to the fundraise, One Gin, which was founded by Ian Spooner, Cecile Beaufils and Duncan Goose, said: “We’re beyond thrilled to have hit our target raise amount on the first day of our campaign going live. We look forward to welcoming our new investors on board very soon. Having hit our target, what happens now?
“Reaching 103% of our raise target so quickly is a wonderful feeling – and testament to the strength of our brand. Although we are now officially overfunding, we’re keeping our round open so that everyone who wants to become a shareholder has a chance to invest.
“Any additional funds raised beyond our target will allow us to accelerate our growth plans including the creation of new products – including a beautiful botanical vodka that’s already in development and we’re also quietly excited about initial talks to create a non-alcoholic spirit; building our sales team to increase our on-trade and off-trade listings; and delivering targeted digital marketing campaigns to reach more spirit lovers through increased Amazon and Google ad spend, as well as enhancing the customer journey with website improvements.”
One Gin’s range currently includes sage, sage & apple and port barrel-rested variants while its gin & tonic flavours are sage & orange zest and sage & apple.
Distinctive brand
In its original pitch, One Gin said: “We’re passionate about driving positive change, turning the UK’s love of gin into a force for good. We’ll donate at least 10% of our profits to The One Foundation, a fund for life-changing water programmes in the world’s poorest communities.
“Since launching in 2017, we’ve expanded into Germany, Russia and Dubai and we’re proud to have donated £20k to The One Foundation.
“While it’s no secret that the gin market (worth $9bn globally) continues to grow, we believe that One Gin is one of few brands to combine a distinctive signature botanical with a global humanitarian cause. 83% of shoppers say they're aware of, and actively purchase food and drink with ethical certification. Our gins are as purpose-driven as they are deliciously distinctive.”
The One Foundation has brought clean water to people in countries such as Malawi, Ghana and Rwanda.
