British shipyard raised investment through crowdfunding

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Discovery Yachts Group has launched a crowdfunding campaign to raise investment to grow its business. In less than a week the firm has raised a planned £750,000 and to date has raised more than £1,740,000 in capital.

More than 200 investors were interested in the offer, two of whom have contributed £250,000 each.

«One was from a client and the other was from someone unconnected to our business»," commented Keith Watson, the shipyard's finance director.

The group was formed last year, «to bring together the UK's leading yacht manufacturers». It includes two proprietary brands: Discovery Bluewater, acquired in July 2017 Southerly, and now Britannia.

Each of the boats Discovery Yachts Group produces is the result of the handiwork of highly skilled craftsmen.

The five-building facility in Southampton has the capacity to produce 10 to 14 custom yachts per year.

The company has decided to attract further investment to meet the increasing demand. The shipyard will also develop new products and marketing efforts to increase sales.

Discovery Yachts Group is currently working on 9 new yachts. The company's order intake has risen by over 300% to £11 million in the past year. To cope with this pace, the firm has increased its workforce to 100 and plans to double this figure by 2019.

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