Distillery Full Front 2

Source: Cotswolds Distillery

Since launching in 2014, Cotswolds has raised over £12m

Whisky and gin producer Cotswolds Distillery has raised a further £1.3m in its latest fundraising effort, as it looks to increase production and expand its whisky range.

The company launched a crowdfunding campaign through its own Angel’s Share 2 platform at the beginning of December, as well as a further fundraising round aimed at high net-worth individuals called Founders Circle 2, hoping to raise at least £1.5m.

Since launching in 2014, Cotswolds has raised over £12m, with the funds used to expand its site, build a new visitor centre and make “key hires”.

It now hopes to become self-funding within two years, said founder and CEO Dan Szor.

“I wouldn’t say that our fundraising is open-ended but there is the ability to raise a further amount because the two main things the funds we are raising are going towards are both open-ended – whisky-making and brand-building,” he added.

“You can’t ever make enough whisky and you can’t ever build a brand enough and these things take both patience and money.”

The English spirits producer will use the funds raised to “maximise its whisky production”, increasing its stocks for ageing and maturation. It will continue its brand building programme through advertising, promotion and events.

NPD within its whisky portfolio is also part of the brand’s strategy, with a new release scheduled every six months for the next 18 months, following in the footsteps of its Founder’s Choice, Peated and Lord Mayor’s Reserve expressions.

For 2019, the company achieved over £5m in revenues, following a “really significant growth” in retail sales, up 65% on 2018.

“The strategy in 2020 is to increase our focus on UK grocery and export – which are the two areas we see the biggest room for growth,” Szor said.

The brand’s spirits are sold in over 30 countries worldwide including the US, France, Germany, Japan and Australia. It will launch into eight Chinese cities in March.