As the Gin and Tonic revolution continues, the company behind Skinny Tonic – “the first Zero Calorie, Zero Sugar, Nothing Artificial, all Natural Tonic Water in the UK” – is seeking further investment through crowd funding platform, Seedrs.
The funding round, which was seeking to raise £500,003 for an 8.07% equity participation, has already seen investments pledged for £666,565, or 10.48% of equity, giving the company a pre-money valuation of £5,693,455.
The current round is an extension of an additional £265,358 the firm raised on Seedrs between July and September 2019, with the share price for both raises remaining the same at 378p each.
Skinny Tonic, which was created in 2014 by company founder Ian Minton – a sufferer of type 1 diabetes – as a tonic water that allows him to enjoy a G&T without the fear of his blood sugars spiking, is now listed nationwide with supermarket group Asda.
The group has set up a bespoke fully automated manufacturing plant in Liverpool capable of producing 6,000 cans per hour.
Break into on premise trade
Stephen Wilkinson, the company’s commercial director told Proactive: “We have been very pleased with the response from our crowd funding campaign on Seedrs . We are over funded and due to demand we may have to now look at closing this early.”
He added: “We have an extremely exciting 12 months of growth ahead of us … We have meetings set up with major retailers and this fund raise will help us break into the on premise trade and secure the right hires to fulfill our growth potential.”
Board strengthened, strategic investments
Skinny Tonic recently fizzed up its board with the appointment of former Winterflood Securities broker, Spencer Crooks; Tom Gilbey, a wine merchant with the family heritage of the Gilbey Gin brand and Inventors of the soda stream; and Jenny Robson, a PR and Marketing expert who has worked with Sainsbury’s, Disney and Superdrug.
The group said it has also finalised deals with some strategic investors such as Nabil Mankarious, managing director of Fulham Shore, owner of the Franco Manca and The Real Greek Restaurants chains.
It added that it has also garnered strategic investment from Spain and Canada, where the firm is looking to launch Skinny Tonic in the near future.
The funds being raised will be used to recruit a sales and marketing team for Skinny Tonic and to increase production capacity and product development.
Tonic is now a premium mixer, and Fevertree has become a multi-billion pound company.
However, Fevertree does not have a zero calorie option, hence Skinny Tonic’s launch, which uses Pure Circle’s stevia to sweeten its wide range of drinks, including a zero calorie natural ginger ale.