Alcohol-free craft brewery Jump Ship Brewing has beaten its £300k crowdfunding target, raising £318k from 123 investors.
Valuing the company at £3.3m pre-raise, the funding round will help Jump Ship “push more innovation in alcohol-free brewing and get our beers into the hands of even more thirsty drinkers”, said owner and MD Sonja Mitchell in a message to investors.
Two-thirds (70%) of the raised funds will be put towards wider marketing of the beers – which already enjoy national distribution throughout Scotland – and targeted ad spend, with the remaining 30% going towards greater chilling and tank capacity at the company’s Midlothian production site.
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The company has set its sights on what it sees as an opportunity to grab “more discerning” low & no-alcohol drinkers, as the market matures.
“People used to drinking great craft beer are actively seeking brands that offer quality, choice and flavour, with values that match their own. Jump Ship is the authentic choice for the moderating craft beer drinker,” the company said.
Currently “in discussions” with supermarkets, Jump Ship has export partners in Canada, Switzerland and Norway. It has achieved 23% year-on-year growth in the UK alone, Jump Ship said, and enjoys a 56% repeat rate and 4% conversion rate among drinkers.
The company previously raised £366k in a Seedrs funding round in March 2023, and brews using 100% renewable energy, as well as giving 10% of profits to charity.
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