Soft drinks challenger Nix & Kix has hit a £300k crowdfunding target to support supermarket listings as its range of cans is launched into Tesco.
The brand is overfunding on the Seedrs platform and has currently raised £330k from more than 120 investors.
As well as backing the Tesco launch, funds from the campaign will go towards activating new distribution in Albert Heijn, the largest supermarket chain in the Netherlands, and also a brand awareness drive in the UK and overseas.
Nix & Kix launched in 2017 with a USP of adding a pinch of cayenne to its drinks. Today, its seven-strong range, which now includes sparking fruit drinks with added vitamins, is available at more than 3,000 distribution points in the likes of Tesco, Waitrose, Ocado, Co-op, Whole Foods Market and Spar. The brand has sold more than 10 million units to date.
CEO and co-founder Julia Kessler said she was “absolutely thrilled” to be overfunding within four days of going public on Seedrs.
“We are using this investment to support new listings, including launching the cans into Tesco and Albert Heijn in the Netherlands.
“In November alone we are already up 35% year on year and generating a £2m-plus run rate.
“The team is very excited to ‘bring the zing’ to the 3pm occasion across all impulse channels and our plan is to maximise the round until 15 December before closing ahead of Christmas.”
This is the third crowd round for Nix & Kix, which has raised more than £1.6m previously.
In September, the challenger brand accused sector giant Lucozade of copying its marketing ideas and staged a ‘real versus fake’ protest at Farringdon railway station in London.
No comments yet