Equinox Kombucha has raised over £1m in just two weeks following a highly successful start to a campaign with online crowdfunding platform, Crowdcube.
The market-leading UK brand set a target of £950k to support its expansion plans in the UK and Europe, and to align with confident growth projections.
After going live on 1st March, the target was quickly reached, thanks to a raft of support coming in from over 300 investors. A few days later the £1m mark was exceed, thanks to an additional 23 investors stepping forward.
The figure (currently at £1.1m) is expected to climb even further, before the campaign end date of 21st April.
Kombucha is a fermented tea drink that has risen in popularity in recent years, thanks to a growing consumer trend for health-focused products.
Interest and consumption of Kombucha has doubled in the UK during the last 12 months, aligning with research that claims over half of consumers keep health benefits front of mind when making purchases, with the pandemic helping to fuel this health-focus.
The brewed drink when made authentically with living cultures is also low in sugar and supports improved gut health. It is also becoming a popular alcohol alternative with consumers – 20 per cent of consumers are non-drinkers and 24 per cent of the population buy into low/no alcohol drinks.
The investment will help Equinox Kombucha to enter the next stage of its growth journey, opening up strategic investment partnerships for the future success of the business. New products lines are planned for later in 2022, which support its brand values and proposition of for "Well Beings".
"We are overwhelmed by the support so far and we are also excited about what it means for the future of the brand," said Equinox Kombucha MD Daniel Spayne. "Demand for Kombucha is increasing all the time and our growth and confidence in the drink has always grown with this.
"Equinox Kombucha consistently delivers on quality and taste thanks to our dedication to using the best ingredients and traditional processes - from brewing at our site in Hebden Bridge to a strong commitment to fully organic products. We are also proud to run Europe’s first B-Corp awarded kombucha business."
In 2020, Hugh Fearnley-Whittingstall teamed up with Equinox Kombucha to bring out an exclusive River Cottage range of the drink. Hugh is a huge fan of Kombucha and describes the team at Equinox as "the best craft brewers of Kombucha in the UK".
As further testament to this, additional flavours of the River Cottage Equinox Kombucha range are due to launch this summer – including a first to market flavour variant.
The UK Kombucha market is forecast to grow by 21 per cent in the next six years – the biggest growth in Europe for the drink. According to InsightAce Analytic, the global Kombucha Market reached $1.7BN in 2020 and is due to grow by 20.64 per cent CAGR and reach $8.7BN in 2028.
Equinox Kombucha is Europe’s first B Corp, BRAC AA rated Kombucha company and recently achieved the prestigious Great Taste Producer status.
