This Craft Beer Startup Just Raised over a Million within 24 Hours through Crowdfunding
Within just a few hours of taking their equity crowdfunding round live on Uprise.Africa, Drifter Brewing Company have already raised more than a million rand in growth capital. This is according to an Uprise.Africa press release.
Drifter Brewing Company is a craft beer manufacturer. The company launched a crowdfunding campaign to help accelerate expansion and push their brew into global markets. They are looking to raise 3 million rand in investment locally.
Investors have an opportunity to own equity in the business as well as share in the company’s future growth potential.
Drifter is the brainchild of Nicholas Bush, who launched the company in early 2015. Some of their varieties include Stranded Coconut and The Cape Town Blonde. They are known to push boundaries by producing brews made from sea water and peanut butter.
The company is located in Woodstock Cape Town. According to a press release, the company holds a full force manufacturing facility as well as a tasting room and event space with stunning Table Mountain views.
Their model has proved to be largely successful with the company already taking market share from the bigger beer brands in seeing a 120% revenue growth in the last three years.
Drifter currently distributes to over 360 stores in South Africa and exports to Zimbabwe and Namibia. They have also obtained partnerships in the US to begin exporting to Texas, Florida and Washington DC and have formed relationships for future exports into Europe and Asia.
The investment will go towards increasing the production and shelf life of their brew and scale up their production capacity in order to turn their existing facility into a world class brewing hub, exporting to the US, Europe and Asia. They also plan to launch a number of Drifter bars that will serve their speciality brew nationwide.