Izo Spirits, producers of a full line of Mexican spirits, is seeking to raise $1.07 million of additional capital through StartEngine, the largest equity crowdfunding platform in the U.S. When we checked last night, Izo had raised $140,812. The company has a minimum goal of $10,000.
The company says its revenue has grown to $143,000 last year from $30,000 in 2019. During the first five months of 2021, the company says, its sales and account have “more than doubled all of 2020.” Izo currently produces 100,000 bottles and year and expects to double that amount.
Distribution already includes California, including select Southern California Costco locations, Arizona, Nevada, Illinois, New York, New Jersey, Delaware and Pennsylvania and will soon expand to Georgia, Minnesota and Montana. Next week the company will ship is first 10 pallets to Costco stores in Mexico.
IZO Spirits said it plans to move to a state-of-the-art distillation facility in Durango, Mexico within three yearsto expand its capacity to meet the anticipated demand. “As we grow to become one of the leading distributors of Mexican spirits in the U.S., Mexico, and Canada, we hope to provide a ‘destination’ experience at our new facility, allowing the world to join in our vision of celebrating the great tradition and heritage of all of the Mexican spirits” the company says.