Honestly Good Smoothie Co has hit its crowdfunding target within 72 hours from launching to the public as it aims to “take the business to the next level”.
The startup, which provides fresh, organic, ready-to-blend smoothie kits through a DTC subscription service, took to Seedrs this week to raise a minimum of £50k. It offered a 2.7% stake for a valuation of £1.8m.
It has so far raised almost £51k from a pool of 61 investors, and is open to overfund up to £100k amid plans to raise a total of £500k this year.
The 2017-established business now plans to use the cash to introduce a fully reusable packaging system, develop personalised smoothie recipes, grow the team and invest in marketing activities, founder Vikesh Kotecha told The Grocer.
Further cash will be used for R&D to create byproducts from the company’s production waste, part of its zero-waste initiative.
To date, Honestly Good Smoothie has sold over 30,000 kits and raised £232k from investors in a previous overfunded crowdfunding campaign on Crowdcube.