Winchester Distillery crowdfunding total nears £500k
More than 700 investors have helped Winchester Distillery surpass its crowdfunding target by more than £100,000 (US$127,137).
Almost £500,000 (US$636,125) was raised through the crowdfunding effort on Crowdcube, which will be used to buy equipment to increase production of its gins and vodka.
Furthermore, the funds will help the distillery realise its international ambitions as it looks to expand availability both in the UK and overseas.
The distillery is also looking to install a brewhouse, which will enable the owners to produce rum and, eventually, whisky.
The expansion will bring about new jobs at the Old Alresford site, plus allow for extra visitors and the installation of a gift shop.
Paul Bower, Winchester Distillery founder, said: “In these uncertain political and financial times we weren’t sure how our crowdfunding campaign would be received, so to close last week not just on target but by exceeding it by over 25% was incredible.
“Thank you to everyone who has been involved and who has invested both locally and further afield. We can’t wait to get under way with our expansion plans so we can reach new markets and welcome more visitors at the distillery.”
Any further funds pledged will be put towards creating an interactive botanical garden at the distillery, redesigning the website and rebranding Winchester Distillery and its spirits portfolio.