Fair drink with a rousing success
The bio-fairtrade-veggie-drink all i need is just about to close its very successful funding campaign on the Austrian crowdinvesting platform CONDA: the team around the founders Thomas Miksits and Alexander Jiresch tried to accumulate 50.000 euros from the crowd, and ended up with 181.400 euros [as of 2 p.m.] near the end of the campaign.
“In our video on CONDA, we told the community that we wish to raise 150.000,” the 29-year old Thomas Miksits told inventures.eu and added: “The fact that we topped that goal and that we are one of the most successful projects in the history of CONDA makes us really very happy.”
The grounds behind
Crowdinvesting can be a tricky thing. Being a relatively young form of alternative corporate financing, not all ventures can look back on such successful campaigns. The reasons for the rousing success were explained by Miksits with the fact that all i need is an already existing consumer good that customers – and potential investors – were able to try and taste and that already is available in Austria: “This is why we were ahead of a classical startup enterprise and we already have a history. This shows our proof of concept and [tells people] that we do not need to still take our first steps on the market,” Miksits said.
CONDA CEO Daniel Horak seconded that opinion: “Several factors were equally important: An experienced and professional team that loves the product and advertises it […], a well-positioned brand that already has created awareness and fostered a strong community […] and a great product that responds to several current trends and – very important – that is already on the market.”
Capital for expansion
As of today, all i need is available at 1.700 retail stores, 130 bio markets and also already present in bars, food courts and noble restaurants. The raised capital will be used for further expansion, still. According to Horak from CONDA, other markets such as Germany are on the target list. Right now, the Vienna-based venture wants to use the majority of the newly seeded capital for sales, marketing and their personnel.
When asked how much of the money all i need can really dispose of, co-founder Thomas Miksits estimates that about three fourth of the total sum will remain with them in the end: “When viewing the campaign with a full cost approach, about 75 percent of the total sum should be available for us after deducting advertising or [the commission for] CONDA.”
The enterprise whose roots go back to 2006 crowdinvesting is only part of the future financing mix: “We are in final negotiations with some investors of the beverage industry, the media or advertising […],” said Miksits. Also, they will partly rely on debt capital, mainly to cover times of increased need of funds in times of order peaks.
For now, the team of four is happy with the investment but expects more for the future than just capital: “We deliberately opted for crowdinvesting […] and we are certain that interesting input will come from the crowd in the future that will be very valuable for all i need’s development,” Miksits said.