CBD spirits start-up Strangeways has beaten a £120,000 crowdfunding target to expand distribution in supermarkets and develop new products.
The business, which produces a range of CBD-infused gin, rum and vodka, said its distribution network was growing rapidly in the UK and globally.
It currently has listings with Bargain Booze, Wine Rack, online retailer Master of Malt and wholesaler Bestway, as well as a raft of independents and on-trade stockists.
Strangeways added in the Seedrs pitch that it had also received the green light from Tesco, Morrisons and Aldi.
With a little over a week to go until the campaign closes, the company has raised more than £160k from in excess of 150 investors.
Funds raised will be used to promote the brand and expand its distribution reach further, as well as scaling up production, developing new products and building overseas
The money will also help with the launch of a new range of ready-to-drink cans before the end of the year.
Wine expert Oz Clarke has recently joined the team to helped with the development of new drinks.
Managing director Paul Hesketh, who founded the brand in 2019, said: “We exceeded our 100% funding target within minutes of going live on the Seedrs platform and continue to attract investors on a daily basis.
“We have been blown-away by the support and on-going endorsement of our product range.”
He added: “Strangeways Beers and Spirits is in a unique position of being the only UK drinks company to produce a range of four SKU’s – dry gin, strawberry gin, spice rum and vodka – all infused with 20mg of CBD, making us the clear market leader in this fast-growing sector.
“And for the future, we want to expand our customer network both here in the UK and abroad, maintaining our position as the premier supplier of CBD infused beverages.”
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