Turbo Drinks Company Limited, based in Leeds and Cumbria, has received £200,000 finance from three Business Angels, bringing with them a wealth of business and financial experience.
The company received backing through the Northwest Business Angels network – a Dragons’ Den-style network providing early stage investment to entrepreneurs hoping for commercial success.
Facilitated by the NWDA, Northwest Business Angels connects young and growing companies, seeking financial assistance, with investors actively looking for profitable business opportunities in the Northwest.
Entrepreneurs are given the chance to pitch their products, services or ideas to the audience made up of successful ‘Business Angels’, to try and secure investment. As part of this, the Northwest Access to Finance team offer a free service to help entrepreneurs to become ‘investment ready’.
After investment through Business Angels, Turbo Drink’s new hybrid bottled drink is taking the pubs and clubs by storm bridging the gap between lager and ‘Ready to Drinks’ (RTDs) for the first time.
David Read, Head of Business Finance at the NWDA, commented: “I’m delighted to see that our Business Angels network is continuing to help small and medium-sized enterprises get the right access to finance and support. Turbo Drinks is a great example of how the Business Angels network is achieving a great deal for businesses in the Northwest, and I hope these successes continue.
The company is hoping the launch will capitalise on the growing trend for customers seeking out new drinks such as premix bottled cocktails, and as an industry first, in line with sensible drinking, the company has decided to sell its shandy-style product only in licensed premises meaning it can only be bought by adults.
Director, Nigel Tarn, who last year helped launch the phenomenally successful Crabbies Alcoholic Ginger Beer for Halewood International, said: "The consumer is very discerning and is looking for a new drink shown by the fall in sales of traditional RTD products and the growth in alternative drinks like Crabbies. Our new drink offers another alternative which can sit either in a bottled lager fridge or an RTD fridge. This allows outlets to replace underperforming bottled beers with a drink that sells just as well as an RTD maximising much needed profit margins."