Cardinal Spirits
About this raise
Cardinal Spirits, with a valuation of $20 million, is raising funds on Wefunder. The business makes delicious and award-winning craft spirits and canned cocktails at its facility in Bloomington, Indiana. The company generates revenue through own-brand sales, contract bottling, and its tasting room. Cardinal Spirits products are sold in 8,400 retail outlets, with annual revenue of $6.3 million and a gross margin of 39% in 2022. Adam Quirk founded Cardinal Spirits in March 2011. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1.24 million. The campaign proceeds will be used for salespeople, marketing, whiskey production, and additional equipment.
Investment Overview
Invested $283,810 :
Deal Terms
Company & Team
Company
- Year Founded
- 2011
- Industry
- Alcohol, Tobacco, & Recreational Drugs
- Tech Sector
- Distribution Model
- B2B/B2C
- Margin
- Low
- Capital Intensity
- High
Financials
- Revenue +16% YoY
- $6,338,046
- Monthly Burn
- $152,594
-
Runway
- 1.8 months
- Gross Margin
- 21%
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Funding history
- Total Prior Capital Raised
- $0
- VC Backed?
- No
Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
---|---|---|---|---|---|---|
09/01/2023 | Wefunder | $20,000,000 | $283,810 | Convertible Note | Funded | RegCF |