Purearth plots US and Asia expansion as it seeks out retail investors on Seedrs platform
Organic heathy drinks maker Purearth has turned to crowdfunding platform Seedrs to raise £650,000 in EIS investment.
The latest capital injection will finance its next phase of growth, including expansion into the US and Asia.
The company, which established the UK’s first water kefir drink, opened its most recent funding round in July and has since secured £300,000 from its existing shareholders.
According to Seedrs, Purearth is valued at £4 million and is offering retail investors up to 13% equity for a share price of £8.
Purearth general manager Paul Gurnell said the company was excited to open the opportunity for consumers and retail investors to secure equity in the growing brand.
“This investment will allow Purearth to continue to drive innovation in healthy drinks, expand further into new products and reach new consumers,” he said.
The start-up reported a 254% increase in sales last year as it ramped up production to meet growing consumer demand during the Covid-19 lockdown.
Its subscriber count also surged 80% in the last six months, while its customer count has increased 74% year-on-year in the last 12 months.
The Purearth Seedrs campaign will close in November.
Date published: 28 October 2021