Chapel Down, “the market leader in English wines”, has announced an equity crowdfunding initiative to raise £1 million. The company stated they had raised £0.67 million and were seeking a minimum of £1 million in a crowdfunding campaign that was launched today on Seedrs.
Pre-money valuation placed the company at £24,076,999. Chapel Down is currently listed and traded on the ISDX Growth Market in the UK (CDGP:ISDX). The funding will be used to expand operations and “further develop business” including additional vineyards, new facilities and an expansion of hospitality operations in Tenterden. Chapel Down is issuing an additional 2,383,927 shares at 28 pence per share.