Dalston’s reached a crowdfunding target of Â£ 400,000 within 24 hours of launching a campaign to help the challenger drink brand recover from the Covid pandemic.
The company continues to overfund and, at the time of publication, has raised almost Â£ 460,000 from more than 420 investors on the Seedrs platform, valuing Dalston at Â£ 8million.
It comes after the east London supplier celebrated a record month in June, selling more than 600,000 cans for the first time and generating sales of nearly Â£ 300,000.
Crowd Money is intended to fund recruiting into the sales team as the company strives for further distribution gains, as well as investing in consumer and commercial marketing to further increase brand awareness. the brand.
Founder Duncan O’Brien said, âI’m excited to be rebuilding our sales efforts and strengthening our marketing to launch the healthier soda opportunity, especially now that our recipes without refined sugar are falling below the HFSS threshold, what technically makes Dalston a “healthier soda”.
He added that the move away from refined sugar has resulted in an increase in the sales rate of groceries this year, which has helped during the pandemic.
Dalston’s was forced to focus more on the non-commerce and D2C markets throughout 2020 as the out-of-home, which accounts for half of the business, was hit hard by the lockdown.
Increased grocery sales helped offset declines and continued growth at Dalston’s last year, with the brand’s line of all-natural soft drinks available at more than 2,700 outlets, including Sainsbury’s, Waitrose, M&S, Asda, Ocado and Amazon.
Turnover in 2020 closed at Â£ 2million as the company sold fourmillion cans.
Dalston’s transitioned from glass bottles to cans in 2017, with strong triple-digit growth year over year since the launch of the new line.
O’Brien founded the company in 2012 under the name Dalston Cola to offer an alternative to the big names in the category.
A brand refresh followed in 2016 when Dalston’s brought in veteran fmcg Giles Brook as a minority investor and expanded its offering to include new flavors.
Today, the brand offers a range of five products (cherry, elderflower, ginger beer, lemon and rhubarb) canned soda made from real fruit and sparkling water. Dalston’s also sells a hard soda duo, as well as RTD alcohol-free gin and tonic.
âOur ambitions for the future are to promote further as we have proof that this successfully brings long-term Dalston drinkers into the brand,â said O’Brien.
âAnd I’d like to do some marketing to promote Dalston’s credentials in sustainability. Our drinks are now carbon neutral throughout the supply chain, and we pride ourselves on supporting biodiversity and promoting small farms such as our rhubarb juice supplier Pixley Berries and elderflower distillate supplier. Blue Sky Botanics. It’s great to see food sustainability finally emerging as a widespread concern.