A Cumbrian distillery has sold £1.75 million-worth of shares in under 30 days via a crowdfunding platform.

The Lakes Distillery made an initial £1m-worth of shares available as part of a £10m government Enterprise Investment Scheme.

The distillery, at Setmurthy, hoped it would sell all the shares in 30 days, but they sold out in three days, which led to an extra £750,000 being released.

It is the fastest share sale for any spirit distillery on crowdfunding site Crowdcube.

The cash was raised from 2,585 investors.

Nigel Mills, one of the three founders of the Lakes Distillery, said: "We are immensely proud that the campaign has managed to fulfil its full quota of funding before the time was up.

"It just goes to show that the right business, with the right product, at the right time, is an investment worthy of anyone’s money, and we thank everyone for their contributions.

"It also showcases the effectiveness of the EIS scheme, which has encouraged a whole new generation of potential investors to take stakes in new and growing businesses across the UK.

"Financially backing entrepreneurship is one of the best ways to get the most out of great innovation, because too many great ideas are lost due to lack of support.

"This success is cause for celebration, and puts us in good stead to enjoy the launch of Steel Bonnets, our first single malt, which will be ready to taste in May."

The investment will be used to produce the distillery’s award-winning spirits and expand warehouse and distribution facilities at its site near Bassenthwaite.