The Naked Collective is has announced that it is looking to raise €2.5 million through the European crowdfunding platform Crowdcube.
The move is part of its next round of fundraising where it hopes to raise €15 million overall to help fund its expansion into North America and Europe, the company noted.
The Irish wellness drinks start-up said it raised €6 million last year has already launched its drinks in over 1000 stockists in the last three months in Ireland with further retail listings secured in Canada and Italy.
The US is firmly in the Naked Collective sights in the next three months following its deal with Acosta, a sales and marketing company for consumer packaged goods (CPG) companies who will distribute its drinks throughout North America, the company said.
The fundraising drive which will take place throughout April is expected to appeal to investors and the public, it added.
The Naked Collective was founded in late 2019 by Catherina Butler and Niall Phelan.
“It’s a business that feels right at home in the current environment. We felt that there was a gap in the market for healthy drink alternatives that speak to what is now a more educated and informed consumer who values health and wellness activities," The Naked Collective’s co-founder Catherina Butler said.
“We saw the crowdfunding approach as not just people investing in our company but also investing in our shared vision, to make the world a healthier, happier place one drink at a time. Who wouldn’t want as many people as possible to be a part of our rollercoaster journey?" she added.
According to The Naked Collective setting up an account is 'simple and will allow interested investors to engage with the crowdfunding process as it opens up from the end of March and into April.'
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