Dublin-based cold brew coffee startup GoodBrew is seeking €500k from crowd investors to underpin a push into UK retailers next year.
Its four-strong range of RTD coffee drinks, which are pitched as a healthier, lower-sugar alternative to current category leaders, have won listings this year in a number of Irish retailers, including Tesco, SuperValu, Centra and Dunnes.
The brand has seen year-on-year growth of around 250%, with its distribution base increasing fivefold during 2024.
It has now launched a convertible offer on Crowdcube to raise up to €500k with a €300k minimum target to support the next phase of its growth, including expansion in the UK and NPD.
It has already secured campaign funding of €250k prior to launch.
The brand has recently launched on Amazon in the UK and hopes to have a pilot launch alongside two retailers in the UK in 2025, before widening distribution in 2026.
GoodBrew CEO Deirdra Schroeder said the brand has had “a lot of organic interest” from the UK and is in positive discussions with “two high-profile UK retailers”.
“The market for RTD coffee & functional beverages is more developed in the UK and I think buyers spot the potential of GoodBrew and how it’s ticking all the boxes for the Gen Z consumer,” she said.
“We know our 16 to 25-year-old target consumer wants to drink their caffeine cold. We’re not just displacing unhealthy, sugar-filled iced coffee drinks, we’re also poaching market share from energy drinks.”
The supplier also wants to expand its product range, and has recently soft launched its Pistachio GoodGut latte, and plans to launch its GoodGut probiotic latte in the second quarter of 2025 while increasing its range of flavours.
It also has ambitions to soft launch into the US by 2027.
“We have taken the time to build a solid infrastructure and now is the time to scale and drive growth,” said GoodBrew CFO Jeffery Schroeder.
The business said it has been largely bootsrapped to date, with pre-seed funding received from Enterprise Ireland in late 2023, which has committed match funding for its current seed round.
Founding investor Frank Gleeson, former president and CEO of Aramark Northern Europe, is also active in business development for GoodBrew.
Gleeson commented: “There has been a wholesale shift in how the Gen Z customer consumes coffee and no one is adequately serving this 20% of the population until now.
“What the GoodBrew founders have achieved to date is impressive and I see this as a brand with massive potential both here and in international markets.”
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