SOFI is raising up to $1million – closing 9pm AEDT tomorrow, Tuesday 29 October
SOFI Spritz produce a range of pre batched cocktails blending premium quality Australian wine, juices, herbal extracts and sparkling water. Inspired by the most popular cocktails in Italy, SOFI is lighter than wine and more refreshing than beer, with only natural ingredients and no added sugar.
SOFI is focused on new product development bridging the gap between oversupply (wine) and unmet demand (consumers) requires a fresh, market led approach that is untethered to the traditional positioning of wine and wineries. SOFI aims to always address the major consumer trends of health and wellbeing, convenience and premiumisation.
- Value at $6.7m pre money (around a 2.8x revenue multiple which compares favourably to other alcohol beverages raising on the same platform at an average around 5x)
- FY19 revenue = $2.35m (revenue for the last twelve months up 50% on the PCP)
- Raising to accelerate growth with increased spend on sales and marketing – already on track to serve up over 2 million cocktails this year
Key achievements to date include:
- The first SOFI Spritz, Blood Orange & Bitters, was bottled in 2013 after enlisting the expertise of 5th generation Mudgee winemaker, Simon Gilbert.
- SOFI launched late 2013 at the Bondi Farmers markets and soon thereafter was ranged in local bottle shops and bars;
- In 2016, the business appeared on Channel 10’s Shark Tank and secured investment at the asking price from two sharks (Glen Richards and Steve Baxter) who are still involved today;
- Won Best Innovation at the Australian Drinks awards in 2017 based on a survey of 6,000 Aussie consumers;
- 2017 also saw the launch of SOFI kegs for cocktails on tap;
- Cocktail cans were launched in 2018, testing at various festivals including Groovin’ the Moo and Falls Festivals;
- 2019 saw the product ranged on Virgin Australia flights as well as commencing export for the first time
Final chance to co-own SOFI Spritz ends tomorrow – head to investinsofi.com for more information.