A CBD-infused vegan, carbon neutral and plastic free craft brewery in Lancaster has raised more than £200,000 to aid its expansion across the country.
Cannabrew was founded by semi-professional rugby player Elliot Horner after CBD became part of his life after years on the pitch to aid recovery, inflammation and soreness.
The company currently sells three products with a pipeline of new, innovative CBD infused beers coming to market in 2021, including a full alcohol-free core range.
On completing its campaign on Seedrs, Cannabrew has raised about £222,015 through 220 investors, passing its original target of £150,000.
The business is valued at £950,000 and is offering equity of 17.3%, according to the Seedrs website.
The company added that it will use the funds to increase its marketing, creating new jobs and scale up production.
A statement on its Seedrs page said: “In the short time since we launched, and in spite of Covid, we’ve sold thousands of cans across the country into most major UK cities. We’ve even begun exporting as far as Hong Kong.
“We’ve also planted over 14,000 trees through a sustainability initiative Madagascar with Ecologi, removing an estimated 350 tonnes of CO2 in just six months since we launched the project.
“Sesh IPA received a constantly strong Untappd rating amongst craft beer fans for its citrus, fresh flavours and blackcurrant undertones.
“Since launching last September, Soul Lager has become the highest-rated lager on Untappd in the UK achieving a score of >3.96.
“We have big plans, both commercially and socially, and what we have achieved so far is only scratching the surface.
“The reason for funding is to expand the Cannabrew team, scale production capacity and secure a listing in a major supermarket.
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“We want to continue to grow our network of off-licenses (craft beer shops and convenience stores) and develop our already established supermarket relations in 2021.
“As venues begin to re-open, we have the opportunity to make Cannabrew available in keg form. This will allow us to expand into a new sector and increase our volume through kegged beer.
“Throughout Covid our D2C sales channel has grown significantly and we expect it to continue with continuous innovation through marketing campaigns and new product launches.
“The CBD market is growing exponentially; expected to hit £1bn by 2025, from £400m today.
“As the demand for CBD products grows, we want to become the market leader and go-to company for CBD-infused craft beer.”