The company was revived by Mr Rossi in 2017 following backing from the likes of businessman Greg Sparks and Dawn Farm Foods CEO Larry Murrin. It initially sought to raise €175,000 in the round, according to a pitch posted on the crowdfunding website Crowdcube, with a pre-money valuation of over €6.49m.
According to DWD’s pitch on Crowdcube, the company was “on a mission to revive and restore The Dublin Whiskey Distillery, founded over 150 years ago, for a modern whiskey drinker”. It also aims to re-establish the DWD brand in key European markets.
The company claimed a recent soft launch of its whiskey generated 18,000 bottle sales. Aside from Ireland, it has already been selling in Germany and the Baltic countries.
Combined with sales revenue, DWD said in the pitch it would use 44pc of the funds on product, with 18pc on promotion and 14pc on overheads. The remainder would be used as cash in bank.
According to Crowdcube’s website, the raise has ended.
The original DWD was founded in 1872, producing its whiskey from the Jones Road distillery in Dublin, establishing itself as one of the country’s most recognisable brands.
The company became known as one of the “six great” Dublin distilleries.
However, in the 1940s, DWD and its distillery closed. The company’s DWD branded mirrors remain in many pubs across the capital.
Founder Mr Rossi, who also worked at alcohol conglomerate and Guinness brewer Diageo, set up the Dublin Whiskey Distillery Company Limited in 2014 before reviving the brand.
Mr Rossi’s efforts to revive DWD attracted the attention of investors with extensive experience across the food and beverage industry.
Former DAA and Aryzta boss Kevin Toland backed the company in 2016, with a report in the Irish Independent stating he invested €150,000.
In 2016, Mr Sparks, a founding partner of RSM Farrell Grant Sparks, which merged with Grant Thornton, invested €100,000. Several of his family were also given stakes in DWD for an additional €100,000.
