Soul Tree raises a glass to £365,000 crowdfunding success

A Birmingham-based Indian wine company is looking to break into the global wine market after securing £365,010 via crowdfunding.

Soul Tree Wines was founded in 2009 by entrepreneurial duo Melvin D’Souza and Alok Mathur and is already sold through 24 distributors into 600 restaurants, bars, pubs, and boutique hotels across the country.

The company which manufactures its wine in India’s primary wine grape growing district of Nasik and distributes it around the world, now aims to spread distribution across the majority of the 10,000 plus Indian restaurants in the UK over the next three years.

Alok Mathur, co-founder, said, "In the last three and a half years we have laid a great foundation for a hugely successful global brand and a sustainable, profitable business.

"We are now entering a phase of rapid growth and the funds will help us scale up to meet growing demand, create even more great products, enhance the team to support growth, and invest into branding and marketing."

Pavi Binning, formerly a senior executive of Diageo plc who has also invested in the firm, added: "Soul Tree is very well positioned in the growing market for Indian wine around the world, and crowdfunding is a great way for the business to raise growth capital.

"It not only raises the growth funding that the business needs, it also brings together a group of investors and supporters that can fuel the brand’s success around the world."  

The crowdfunding campaign caught the eye of investors on a global scale, with investments coming from countries including Australia, India, Singapore, Dubai and of course, the UK.

The business grew at 125% in 2013 and has a growing international footprint with distribution into France, Germany, and now the USA. It is set to become profitable from the year 2016, and is forecasting sales of nearly £12m by 2019.

Below you can view the promotional video for the Soul Tree Wines campaign:

 

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