Unprecedented Capital Raise Brings ‘Joiy’ for Founders

Unprecedented Capital Raise Brings ‘Joiy’ for Founders

Global markets are firmly in the sights of Archer McRae Beverages after closing a $1.35 million funding round this month, with their flagship beverage ‘Joiy’ - the largest single capital raise of a Creative HQ start-up.

Helmed by founder Chris Archer, Joiy is the product of 25 years of award winning wine making, coupled with global ambitions and a customer centric approach. Joiy was part of business incubator Creative HQ’s global growth programme last year.

Joiy, with its tagline “Live for today”, is a sparkling wine that forgoes traditional links to vineyards and wineries as the world’s first wine focused global beverage.

Joiy’s fundamental difference is the investment in brand rather than infrastructure, while maintaining all the cherished ideologies of the traditional wine industry, revolutionising the business model in order to compete on a global stage.

Archer says “If you look at the global beverage environment, there is no leading wine brand in that eco system - you have strong brands in beer, cider and ready to drink’s, but there is not one wine brand that sits up like those do. We are taking wine out of its traditional format: embracing the creativity of the drinker.”

“In Australia and New Zealand we are converting traditional wine consumers as well as non-wine drinkers because we are taking the best of both worlds. You can have Joiy with a slice of lemon, or in your cocktail. It’s about a quality product that you can have a bit of fun with, not about following the rules.”

The impressive capital raise is the result of Angel HQ investment as well as strong backing from an offshore investor.

Angel HQ’s Dave Allison says the level of investment is a huge deal, with companies usually raising between $400,000 and $750,000 in this kind of single A round in New Zealand.

Allison attributes two main factors to Joiy’s success: “Firstly personal credibility - Chris has proved his product sells and has strong overseas connections and contracts, secondly he has a genuinely different strategic vision and global play.

Getting Joiy to market has been a true labour of love, supported by the openness of Wellington consumers to try new things, and the willingness of local businesses to get behind the brand.

Focus now is on growing the business and investing in brand activation in key offshore markets such as Canada, the United States, Australia and China. Joiy is currently exporting to 7 major international markets.

Ultimately, the funding round has been a true testament to the value of the brand and its bright future: “Joiy encompasses all the good parts of the wine industry, it is a NZ brand, it has huge goals, its a premium product and its adaptable - we are about making people smile and this funding round has been huge validation for our definitely unconventional approach.”

Joiy is available in select retailers, bars and restaurants across the country - Archer says “if it isn’t at your local, call us!”

You can visit Joiy’s website here or follow them on facebook here.

ENDS

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