Embarking on a new chapter, Drop Project Brewing Co has announced a transformative £700,000 equity raise in exchange for 20% of the company.
The equity raise will fund Drop Project’s strategic UK-wide market push. There are plans to boost the brewery’s environmental credentials, and also to open its first flagship pub.
Since its founding in 2019, Drop Project has become a prominent name in the craft beer industry. It has attracted awards, enthusiasts, and people new to the craft scene with its commitment to quality.
The company’s success and profitability have laid a solid foundation for the equity raise, aiming to accelerate its growth trajectory.
The funds raised will be instrumental in sustainable growth, with various projects, including CO2 recapture and rainwater harvesting. A portion of the investment will be allocated towards launching the company’ first pub.
“This equity raise is testament to the incredible support we’ve received from our loyal customers over the years, and the growing demand for our beers across the UK,” said co-founder and chief executive William Skipsey.
Drop Project’s co-founders in the brewery
“We’re excited to have more people join the journey we’re on by either investing in us or by getting to enjoy our beer at their favourite pubs.”
Co-founder and sales director, Joe Simo, added: “People are resonating with what we’re about. We take our beer production seriously, but don’t take ourselves too seriously. In an online world, we all need the time out to see our mates and have a laugh. Drop Project is about celebrating that.”
John Taylor, co-founder and managing director, said: “We’ve always believed that craft beer shouldn’t be elitist. Beer belongs to everyone! From day one, we ensured our products were as natural as possible and vegan, to open the doors to everyone at the pub.
“Having developed two successful breweries previously, my objective was clear with Drop Project. Build a successful, sustainable, and accessible brewery.”
With the recent EIS relief approval, investors have an opportunity to be part of Drop Project’s journey while also receiving a tax deduction from their personal income tax. Find out more here.
