Geelong based non-alc drinks company Monday Distillery has closed out its equity crowdfunding venture, reaching over $1 million in investment with 497 new shareholders.
Monday Distillery partnered with Equitise to lead the raise, ending on 9 September, with the business securing 115 new investors in the final 24-hour period.
Monday Distillery founder Samantha Manning said the funds raised were 'a testament to the community', and would allow new drink varieties to be produced, while also pursuing online channels and international growth.
Investment will go to the parent company of Monday Distillery – Higher State Co – which is also home to the Lunae Sparkling brand. Investors are now co-owners of both brands.
“We really are a testament to the power of our community. Many of the funds raised were achieved via our family, friends and customers who have supported us in many ways over the years. We hope to match huge international groups in what we deliver.”
Haydn Farley, co-owner and finance director at Monday Distillery said the company was in a fortunate position in regards to consumer demand.
“We aim to capitalise on the strong demand for non-alcoholic RTDs in Australia and internationally, and the emergence of the category of functional water and beverages. Our key obstacle to growth has been the ability to supply and distribute to keep up with this demand,” said Farley.
