Copperworks Distilling Company (2023)

About this raise

Copperworks Distilling Company, with a valuation of $15.6 million, is raising funds on StartEngine. The company produces gin, vodka, and American Single Malt whiskey from the base of malted barley. Copperworks Distilling sells both through its retail store and distribution to restaurants, bars, grocery stores, and liquor stores. The business has also won several national and international awards and has expanded its production by opening two new locations. Jason Parker and Micah Nutt founded Copperworks Distilling in 2011. The current crowdfunding campaign has a minimum target of $9,999.60 and a maximum target of $618,000. The campaign proceeds will be used for marketing, operations, and working capital.

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Investment Overview

Invested this round: $617,918

Deal Terms

Total Commitments

Platform
StartEngine
Start Date
03/27/2023
Close Date
07/28/2023
Min. Goal
$10,000
Max Goal
$618,000
Min. Investment

$250

Security Type

Equity - Common

Company Stage

Growth Stage

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$0.60

Pre-Money Valuation

$15,618,092

Company & Team

Company

Year Founded
2011
Industry
Alcohol, Tobacco, & Recreational Drugs
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
High
Location
Seattle, Washington
Business Type
Growth
Company Website
Visit Website

Team

Employees
8
Prior Founder Exits?
No
Founder Name
Jason Parker
Title
Co-Owner and President
Founder Name
Jeff Kanof
Title
Vice President
Founder Name
Micah Nutt
Title
Distiller

Financials

 Revenue +22% YoY
$1,030,662
as of FY2022
 Monthly Burn
$50,134
as of FY2022
 Runway
2.1 months
as of FY2022
 Gross Margin
38%
as of FY2022

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$1,030,662

$846,090

COGS

$642,592

$471,000

Tax

$0

$0

 

 

Net Income

$-601,608

$630

Summary Balance Sheet

FY 2022 FY 2021

Cash

$104,390

$1,012,605

Accounts Receivable

$76,067

$84,725

Total Assets

$9,125,362

$3,711,026

Short-Term Debt

$2,161,529

$229,114

Long-Term Debt

$5,221,204

$1,663,565

Total Liabilities

$7,382,733

$1,892,679

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$2,705,642
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
11/18/2024 StartEngine $18,649,559 $498,449 Equity - Common Funded RegCF
07/28/2023 StartEngine $15,618,092 $617,918 Equity - Common Funded RegCF
12/31/2021 StartEngine $11,723,916 $2,016,375 Equity - Common Funded RegCF
04/29/2020 Wefunder $7,850,052 $760,208 Equity - Common Funded RegCF
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Growth Charts

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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Copperworks Distilling Company on StartEngine 2023
Platform: StartEngine
Security Type: Equity - Common
Valuation: $15,618,092
Price per Share: $0.60

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Warning: according to the close date for this deal, Copperworks Distilling Company may no longer be accepting investments.

Copperworks Distilling Company Deal Report

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