Chapel Down has raised just over £1.7m through crowdfunding platform Seedrs and share placing for its beer and cider Curious Drinks subsidiary, exceeding its original £1m target by 71%.
Funds raised will allow the Kent-based wine, beer and cider producer to build a new brewery in Ashford, which will include a restaurant and shop, and meet growing demand from the UK and international markets.
Construction on the new brewery is expected to start in this summer and be fully operational by the following spring.
Chapel Down’s half-year results showed its sales rose 33% to £3.25m in the first six months of 2015, with wine accounting for £2.28m of that, and beer and cider making up the remaining £974k.
Last year, the group raised £3.9m and gained about 1,500 new shareholders through Seedrs, becoming the first listed business to embark on a crowdfunding exercise. It put the funds raised towards expanding its wine business and the new brewery.