Since its launch in June 2013, the Cambridge-based raspberry gin company has considered itself at the forefront of the burgeoning pink gin sector. The new financial boost will be used to grow its sales reach, develop its brand marketing and increase production.
Stephen Marsh, managing director, said: “The fact that we were able to raise a seven-figure sum through friends and family speaks volumes about the robustness of the business model, the strength of the product and the opportunities ahead.
“Our investors have bought into the fact we’re a pink gin pioneer with a distinctly fruity USP.
“Industry data shows that 11% of on-trade gin stockists carry a pink gin, and 2.2 million people are now drinking pink, showing there’s clear headroom for growth.”
Backers of the brand include its directors, employees, existing investors and personal connections.
Despite the Instagram-friendly pink colour being a central part of its brand, this was actually created unintentionally: Marsh and his colleagues experimented with various fruits before concluding that raspberry worked ‘mighty well with the juniper’.
Pinkster also raised £1m back in 2016, surpassing its £600k crowdfunding target in six weeks.
Pinkster is served in around 5,000 UK venues in the on-trade: including Charles Wells, Marston’s, St Austell Brewery, the Azzuri Group, Marco Pierre Restaurants and Rick Stein’s eateries. Off-trade stockists include Majestic Wine, Marks and Spencer, Harvey Nichols and Selfridges.
Left-over inebriated raspberries are used in three natural by-products: Boozy Berries, Gin Jam and Pinkster Royale.