Dr Coy’s Health Foods, a Co Wicklow-based food company, is looking to raise €600,000 in a second funding round, as it targets international expansion to countries including the UK and China.
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Dr Coy’s Health Foods, a Co Wicklow-based food company, is looking to raise €600,000 in a second funding round, as it targets international expansion to countries including the UK and China.
The company, which is best-known for its low-sugar chocolate, recently raised €400,000 in its first funding round. The investments were made up of €100,000 from Enterprise Ireland and €300,000 from private investors, including U2 musician Dave ‘The Edge’ Evans and businesswoman Ali Hewson, who is married to Bono.
Dr Coy’s second round of fundraising is expected to close this year, meaning it is on track to raise around €1m over the two rounds.
It is in discussions with investors in the US regarding the latest round.
Alison Stroh, who founded the business, said she was targeting expansion in Germany, Portugal, the Nordics and China. The company sells its chocolate in the UK through online grocer Ocado.
Stroh is aiming to grow sales for 2020 by 30pc, hitting more than €1m.
The Greystones company’s chocolate is available in Supervalu, Tesco and some Dunnes stores.
