Co Down ready-to-drink cocktail brand smashes crowdfunding target
A NEW drinks brand based in Co Down has smashed its crowdfunding target by raising £600,000 in a matter of weeks.
Ready-to-drink cocktail brand Wavey Ice, has received the backing of 147 investors since launching on equity crowdfunding platform Seedrs in early August.
Originally set up in London during 2014, Wavey Ice was acquired last year by Laura Davis and relocated to Hillsborough, Co Down.
The company produces a range of both alcoholic and non-alcoholic cocktails and nostalgic ‘boozy’ ice pops and say they're on a "mission to redefine the ready-to-drink experience by crafting irresistible pops and cocktails that capture the essence of playfulness and creativity".
The ready-to-drink (RTD) sector took off during the Covid-19 lockdown and remains one of the fastest growing drinks categories.
After tripling its sales in the last 12 months, Wavey Ice launched on the Seedrs platform seeking a fresh injection of crowdsourced capital to develop new products in the hope of riding the wave of new interest in the sector.
The company has now smashed through its original target of raising £450,000, with considerable spike in interest during the last 24 hours.
Managing director Laura David, who heads a team of four, said: “We’re over-the-moon to have smashed our crowdfunding target so quickly.
“This overwhelming support demonstrates what we already knew that our playful, nostalgic ice pops and RTD cocktails are a smash with consumers.
“During lockdown we gifted the pops to our family and friends as a way of connecting, having a laugh and delivering fun energy to each other.
“One of the most popular gifts was mixed boxes of Wavey Ice pops, which are an adult twist on childhood favourites that give off a nostalgic summer vibe.
“We jumped on the opportunity to buy the business as we knew it had a lot of potential, and it’s been a canny move as we’ve tripled sales,” she said.
“We’ve invested in new product development and developed ‘Sips’, ready-to-drink alcoholic and non-alcoholic cocktails, which have been massively popular and stand-out sellers.
“Our crowdfunding campaign will help us bring our vibrant products to new markets and make waves in the industry.”