What to know about the latest funding round of Drake’s Organic Spirits:

  • Drake’s Organic Spirits, a Minnetonka-based spirits manufacturer, is closing in on securing a $10 million financing round
    • The round will be the third private placement for the company and is currently around, “70 percent complete” according to Mark Anderson, Founder and CEO of Drake’s Organic Spirits (via TCB)
    • Anderson also expects to close the round in mid-July
    • Drake’s second round brought in nearly $7 million
  • Drake’s calls itself the, “first and only spirits line in the world certified USDA Organic, Non-GMO Project Verified, Gluten-Free, Vegan and Kosher.”
    • The company currently makes rum, vodka, “Boxtails” — boxed cocktails that clock in at 12 percent alcohol — and spiked popsicles