Kombucha brand Equinox has smashed a £950,000 crowdfunding target after just two weeks.
At the time of writing, the brand had pulled in £1.1m from 389 investors with 15 days left to go on its campaign.
It is offering up 10.54% of its equity, valuing the business at £9.44m with a share price of £1.43.
Equinox plans to use funds raised to expand its presence in the UK and Europe, as well as the creation of new products planned for later this year.
The business was “overwhelmed by the support so far and we are also excited about what it means for the future of the brand”, said its MD Daniel Spayne.
“Demand for kombucha is increasing all the time and our growth and confidence in the drink has always grown with this.”
As well as its eponymous brand, Equinox also manufactures TV chef Hugh Fearnley-Whittingstall’s River Cottage range of Kombuchas, which rolled out in 2020.
Further River Cottage kombuchas are set to roll out this summer, including what Equinox claimed would be a “first-to-market flavour variant”.
Equinox said the UK kombucha market was set to grow by 21% over the next six years.
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