Clonakilty Distillery raises €2.5m through State’s tax relief investment scheme

Ceo Michael Scully said the funds would be used to continue laying down whiskey and for investment in marketing

Earlier this year, Clonakilty struck a deal with Marussia Beverages USA, which will act as the exclusive importer of its products into the American market. Picture: Getty

Clonakilty Distillery, the Cork-based whiskey maker, has raised a further €2.5 million through the state’s EIIS tax relief investment scheme.

Clonakilty has raised €8.4 million to date through the EIIS, according to Michael Scully, the company’s chief executive.

It plans to raise further funds this year, he said, to bring its total fund-raising to around €11 million.

Scully said the funds would be used to continue laying down whiskey and for investment in marketing.

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