Ready-to-drink cocktail brand exceeds crowdfunding target in 24 hours

By Bethan Grylls

- Last updated on GMT

Wavey Ice smashed its crowdfunding target in just a day
Wavey Ice smashed its crowdfunding target in just a day

Related tags Beverages Business Investment

Northern Irish company Wavey Ice, known for its alcoholic ice pops, has seen sales triple in the last 12 months, increasing by 306%.

The Hillsborough based brand has raised more than £500,000 with three weeks of fund raising still to go, acquiring 79 investors so far, and hopes to hit a £600,000 target by 6 September 2023.

Wavey Ice launched in London in 2014 and was later acquired in 2022. It’s now under managing director and head of production, Laura Davis’, leadership. The brand’s ‘Pops’ range is one of the originals in the frozen alcoholic treat market, with three flavours available: Kola & Spiced Rum, Watermelon & Vodka, and Black Grape & White Rum.

It has also recently launched a new range of RTD beverages known as ‘Sips’. These are served in pre-mixed alcoholic and non-alcoholic cocktail pouches.

The ready-to-drink (RTD) category continues to outperform the spirits sector, with its sales value growing by 8.1% (£866m) in 2022, according to Mintel - White Spirits & RTDs, UK 2022 research. 

Commenting on the crowdfunding success, Davis said: “We’re over-the-moon to have smashed our crowdfunding target so quickly! This overwhelming support demonstrates what we already knew that our playful, nostalgic ice Pops and RTD cocktails are a smash with consumers.”

“We’ve invested in NPD and developed Sips, ready-to-drink alcoholic and non-alcoholic cocktails, which have been massively popular and stand-out sellers. Our crowdfunding campaign will help us bring our vibrant products to new markets and make waves in the industry.”

The funding is taking place on the platform Seedrs and will be used to invest in product development and expand the Wavey Ice's audience.

There are a range of investor perks for different levels of support, including 10% discount for three months for a £25 investment, and a year of discounts, ownership and an exclusive Wavey Ice t-shirt for £100 investment. Moreover, there are five exclusive perks for £10,000 investors which include one-year supply of Sips and Pops (260 each), a cool-box, an opportunity to create a bespoke cocktail with its R&D team, along with a lifetime discount and full ownership.

In other news, sandwich producers, Around Noon, has opened a new factory in London.

Related topics NPD Drinks Frozen

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