Soul Tree looks to raise £350k in crowdfunding scheme for its Indian wine business
Soul Tree Wines, one of India's leading wineries, is third of a way to reaching its target of £350,000 in a crowdfunding scheme to raise extra capital to help it on its next stage of its development.
Soul Tree Wines, one of India's leading wineries, is third of a way to reaching its target of £350,000 in a crowdfunding scheme to raise extra capital to help it on its next stage of its development.
The scheme will put 16.5% of the business in to the hands of private shareholders and it is hoped those that pledge money will do so not only as an investment but will become "evangelists" for the winery and help raise its profile by word of mouth.
Soul Tree Wine was founded in 2011 by Alok Mathur and Melvin D'Souza and has been committed to try and "put Indian wine on the map", and to "change the way people in this part of the world enjoy their curry".
The wines are currently on sale in over 600 outlets across the UK, through 24 distributors, including Michelin star restaurants and boutique hotels and are now sold in Germany, France, and set to go in to the US before the end of the year.
Mathur told Harpers.co.uk: "With the popularity of Indian cuisine around the world we believe that the market gap is intuitive and obvious, and the potential is absolutely huge."
The crowdfunding scheme is being run through Crowdcube and in three weeks has so far raised £107,700 or 31% of its target £350,000. Investors have so far come in from India, Dubai, Australia, Singapore, and the UK. People can invest from a minimum of £10.
Mathur added: "The crowdfunding is, of course, to raise funds, but we are also trying to create a global community and are inviting people to come on board as investors and evangelists."
Soul Tree is based in India's Nasik Valley, 100 miles north east of Mumbai, and is responsible for producing two-thirds of the wine made in the country. Being 2,000 feet above sea level its wines are made in a tropical climate from volcanic soils.
Its range includes a Shiraz and Cabernet Sauvignon blend, a Sauvignon Blanc, Shiraz, Cabernet Sauvignon and a Shiraz and Zinfandel rose blend.
You can find out more about the scheme at www.soultreewine.co.uk, and the crowdfunding pitch can be accessed at www.crowdcube.com/soultreewine.
Keywords:
Search
56-58 Church Walk, Burgess Hill, West Sussex, RH15 9AN
Registered in England No. 6646125. VAT No. 938 4452 95
