Innovative wine company Invivo will open investment opportunities to the public on Tuesday 12 June, as part of its current capital raising exercise. Invivo aims to raise $6.5 million to fuel further growth.
This follows the company’s successful 2015 equity crowdfunding exercise which made records at the time, raising $2 million through the local online investing marketplace, Snowball Effect.
The investment will be used for driving further growth of the successful Graham Norton range, expansion into the USA with a new celebrity collaboration, growth in domestic market with Lion (New Zealand partner), further opportunities in Australia, UK and Ireland and working capital as well as growing the Invivo team.
Since 2015, Invivo sales have increased from $3.7m to a projected $13.9m this financial year. The innovative wine company is clearly doing something right as they have experienced a 374 percent bottle sales growth since their 2015 crowdfunding campaign as well as a 236 percent growth in 17 overseas markets.
Their latest innovation a Graham Norton Prosecco, produced in a partnership with an Italian winery has seen Woolworths in Australia order five containers for just their first order and Lion about to launch nationwide in New Zealand.