Natural condiments startup Dr Will’s is looking for angel investor backing to fund NPD and marketing expenses.
The 2017-established business, which makes sauces including ketchups, BBQ and flavoured mayos, is looking to raise £300k with the money to fund some “interesting launches”, co-founder Liam White told The Grocer.
Further funds will go towards marketing and brand building, as well as securing enough working capital for the business.
“At this stage, funding our growth is our primary objective,” White added. “But we are also seeing growth into our existing business, so we have to make sure there is enough support through working capital as we go forward.”
Dr Will’s range is currently stocked by Ocado, Amazon, Holland & Barrett and Planet Organic, among others. It is also available across the foodservice sector, in catered office sites and universities.
Discussions with big four retailers are currently ongoing, with the business now “focused on getting into mainstream retail”, White added.
Dr Will’s is primarily looking at angel investors to raise the cash as they “often have more to offer than just money”, White said. However, it was also open to looking at private equity funds, he added.