Burgeoning organic chocolate brand Raw Halo has smashed its latest crowdfunding target, raising almost £205k to grow the business.
Its second Crowdcube drive closed yesterday (11 December) at 186% of the original target. Raw Halo had offered £110k in exchange for 7.75% equity, but raised £204,790 in exchange for 13.54% - having hit the original target within 72 hours. The initiative proved even more successful than the brand’s previous round, which last year reached 176% of desired funding, worth £150,000.
Raw Halo intends to use its latest funds to finance expansion in the mults, marketing and NPD. The business was “delighted with the result of our second crowdfunding campaign” said founder and director Meg Haggar. “The response we’ve received once again from the crowdfunding community has been amazing.”
In food & drink crowdfunding, Crowdcube was “seeing some of their most popular campaigns” Haggar added. “So it’s exciting to be part of such a fast-growing, and in-demand investment category.”
Haggar set up Raw Halo in 2015. Its raw, organic chocolate is listed in 20 countries and more than 400 stockists, including Booths, Harrods and Whole Foods Market. Revenue for the past 12 months was £190,000, while revenue to date is £380,000 from £630,000 of retail sales.
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