On-demand tech startup Drinkly has raised £250,000 from its first equity crowdfunding campaign, Your Round. Launched seven-weeks ago on Seedrs, the campaign will remain open until midnight on Tuesday 4th of February.
The company will use the newly raised funds to accelerate its growth plan. Drinkly already has 40 retail partners across the country and aims to move into 150 locations by December 2020 with the aim of becoming a market leader.
Based in Edinburgh, the firm has secured itself a prominent position in the multi-billion pound convenience economy, which is growing exponentially.
Commenting on the funding, John Robertson, founder and CEO of Drinkly said,“With this investment now in place, we’re able to push ahead with our ambitions to grow our retailer base, build out our tech and put in place a solid integrated marketing strategy to maximise our visibility among our core audiences.
“We’ve set the course and we’re on track to make 2020 the best year yet. We’d like to thank everyone who has bought into Your Round and placed their confidence in Drinkly. Cheers.”
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The company is backed by a number of high-profile entrepreneurs including BrewDog’s James Watt and Stuart Middleton, CCO of Skyscanner.
Since being founded in 2016, the company has increased its sales 400% and delivered over 16,000 orders to customers in Edinburgh, Glasgow and London.
This year, the firm has added over £110,000 in revenue to its first retail partner and has engaged in exclusive partnerships with global drinks brands such as Heineken.
In 2019 it was awarded Online Business of the Year at the Scottish SME Awards and Tech Nation has named it one of the UK’s top 20 startups in 2020.