Impossibrew is a team of London-based beer lovers who have devised what they call ‘Social Blend’ technology that helps drinkers “unwind naturally, offering a true third choice beyond ‘drinking’ and ‘not drinking’ and pioneering a new category in functional drinking”.
The funding drive opened on Crowdcube on 22 January and has 1,050 investors at the time of writing and has smashed its target by 289%. The company is offering 10.77% equity in the business with a pre-money valuation of £12m.
The business said in its pitch: “We believe today’s social drinking options force impossible choices: alcohol with its downsides or alcohol-free beers that miss the feeling.
“We aim to deliver what people actually seek: natural connection and relaxation.”
It explained using its “patent-pending” Social Blend that was developed with Dr Chazot at Durham University, Impossibrew “combines natural nootropics with premium brewing to deliver both relaxation and exceptional taste”.
Growing demand
The funding has been cited for use in expanding Social Blend innovation across new formats; accelerating retail channel expansion; scale production to meet growing demand; and strengthen direct-to-consumer experience.
Impossibrew added its target audience includes “health-conscious individuals seeking social connection without alcohol’s downsides”.
Its beers, which include a lager and a pale ale are available across the UK in pubs such as the Golden Guinea in Bristol, Harley’s Tavern in Battle, Sussex, and the Red Bull in Peckham Rye, south London.
It is available at a multitude of taprooms including Club Soda Tasting Room, indiebeer, Real Drinks (Formosa St) and Werewolf Beer in central London.
January 2024 saw the business make £340k total sales value and it expects to double that in January 2025 to £700k in monthly sales value.
Impossibrew said: “With revenue consistently doubling year-on-year for three consecutive years, Impossibrew has grown from an initial £1k monthly revenue at launch to over £700k in monthly sales value.
“Over 1m cans have been sold in the past 12 months and this upward trajectory will be further boosted by the fund raise.”
Overwhelmed
Impossibrew founder Mark Wong said: “We’re overwhelmed by the incredible support from our existing investors and community in reaching our funding target of £500k in just 35 minutes during the priority access phase and surpassing £1.2m within 24 hours of public launch.
“The funding will accelerate our patent-pending Social Blend technology development and expand nationwide availability, plus building a world-class team to support our ambitious growth plans with a focus on phased approach expanding our retail and trade presence nationwide through strategic partnerships – making the future of drinking accessible to everyone.
“It’s humbling to see so many people believe in our vision and we’re excited for what the future holds as we move ever closer towards our goal of becoming the world’s best alcohol alternative company.”
Wong’s business appeared on Dragons’ Den in 2022, and he said he turned the Dragons’ “too early” rejection into motivation.
He added: “While we didn’t secure investment, the experience gave us something far more valuable – validation that we were creating something people truly wanted.
“The response following our appearance was incredible, showing us there was genuine appetite for a third choice beyond just drinking and not drinking.”
