Ironclad Distillery, based out of Newport News, Virginia released their first annual report in February 2019. The firm just completed its second successful equity crowdfunding raise in April on Microventures. The firm raised $229,862 in addition to a 2017 raise of $449,741.
The company reported $144,765 in revenue in 2017 up from $51,535 in 2016.
During the second equity crowdfunding raise, the firm listed a $9.29 price per security.
The Crafters Leading the Way
Craft Breweries and Distilleries pave the way for much of the new economy. Almost always preceding innovation clusters are the crafters. On equity crowdfunding platforms, craft brewers and distilleries are conducting many of the successful early campaigns.
Ironclad Distillery is one of those companies. The firm’s business model is straightforward. They sell aged spirits in addition to a physical location that provides customers with a value-added tasting experience.
Craft distilling is currently booming in the United States. In 2018, the number of craft distillers rose 15.5% to 1,835 and grew sales 29% as an industry.
In the firm’s annual statement, Ironclad Distillery does list the amount of inventory that is currently aging. Depending on the price of each bottle, the inventory is sizable and could generate significant revenue for the firm.