Mother Road Brewing Co., a Flagstaff-based craft beer producer, has opened an investment round to bring in outside funding that will help the brewery expand its product line and position itself for its next growth phase.
In June, Mother Road, which is the third largest brewery in the state, launched an equity crowdfunding campaign on StartEngine, a capital market company, in order to raise funds to help scale and develop new products.
The company initially said it was hoping to raise between $15,000 and $2 million. In August, Mother Road elected to extend the funding round until Nov. 4. So far, Mother Road has raised more than $666,500 from 574 total investors, which gives the company a valuation of $40.04 million.
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