Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Vegan cheese company to crowdfund international expansion


Auckland-based vegan cheesemaker Angel Food will launch their second equity crowdfunding campaign on 15 July to fund their next phase of growth in a rapidly-evolving market for plant-based and vegan products.

Started in 2006, Angel Food is one of the leading plant-based cheesemakers in New Zealand. Since their first equity crowdfunding raise in 2015, they have rapidly grown their production and distribution.

“When we did our first raise in 2015, we were supplying about 70 shops and 70 eateries. Today we supply 400 shops and 300 eateries — and our turnover has increased tenfold,” says Angel Food founder Alice Shopland.

Angel Food is seeking to raise between $200,000 and $385,000 which represents 4.3%–7.95% of the company. Shares are $35 each with a minimum investment of $350.

“We are concerned about the climate crisis and the suffering of animals being farmed for food — which is why we aim to make delicious products that are widely available so it’s easier for people to choose plant-based,” says Shopland.

“Our customers love what we do. For many, it’s the first time they could eat cheese. We had one woman in her thirties with a severe dairy allergy try her first cheese toastie because of our products, and decided it was the best meal of her life.”

Last year Angel Food expanded their team to meet growing demand and saw its best-ever sales year of $1.7 million in revenue.

“I’m thrilled to be going out to our crowd again with this new raise. It’s a chance to share our plans for the future, and grow our team. I’ve learned through rapid growth that sustainable progress only happens when you have a strong team. And we’d love for more people to be part of that team,” says Shopland.

PledgeMe founder Anna Guenther is excited that Angel Food is going back out their crowd.

“Last time, Angel Food met their goal in less than two weeks. I can’t wait to see what happens this time!”

One of PledgeMe’s first successful equity campaigns, Angel Food raised $151,125 in two weeks in 2015.

Angel Food’s campaign is launching privately at 2pm on 11 July, and then launch publicly on 15 July. You can read their full Investment Memorandum here and subscribe to their newsletter to be kept updated here.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Freight: New Report On Auckland Port Relocation

The Government has released a major new report on the options for relocating the Port of Auckland’s freight operations while deferring any decision on the issue. More>>

ALSO:

Chartered Accountants: COVID-19 Fails To Knock Kiwi Investor Confidence, But More Disclosure Wanted

Three months of COVID-19 lockdown and investment turmoil has done little to knock confidence in New Zealand capital markets and listed companies with overall investor sentiment very similar to 2019, an investor survey held in mid June shows. However, ... More>>

ALSO:

Taxation: Black-Market Tobacco Sidesteps $287 Million In Excise Tax

Year-on-year increases in consumption of illicit tobacco in New Zealand have seen illegal trade swell to 11.5% of the total market. If consumed legally, illicit products would have netted the Government $287 million in excise tax during 2019. Independent ... More>>

ALSO:

Energy Sector: Meridian Spilled Water To Hike Electricity Prices - Authority Ruling

The Electricity Authority has found that generator Meridian Energy manipulated the power market, costing consumers about $80 million. More>>

ALSO:

XE Data Update: RBNZ Official Cash Rate Decision

The RBNZ will keep the Official Cash Rate (OCR) at 0.25%. T he key points in the RBNZ statement are: RBNZ keeps the OCR unchanged at 0.25% Maintain the LSAP (large scale asset purchase) at NZD$60 billion. Committee prepared to use additional monetary ... More>>

ALSO:

Electricity: Kiwis Ignore Promise Of Cheaper Power

Electric Kiwi and Flick Electric Co are joint winners of Canstar Blue’s award for Most Satisfied Customers | Electricity Providers From putting on an extra layer – rather than turning on a heater – to turning off lights and choosing the energy-saving ... More>>

ALSO:

Electricity: Transmission Pricing For A Low Carbon Future

The Electricity Authority has decided on new guidelines for transmission pricing. James Stevenson-Wallace, Chief Executive of the Electricity Authority says the new guidelines will deliver significant benefits to consumers, through lower electricity ... More>>

ALSO:

NIWA: The Climate Record That Keeps Getting Broken

Among the multitude of New Zealand climate statistics there is one record that continues to be broken month after month. Since January 2017 there has not been one month that recorded a below average nationwide temperature, according to NIWA’s seven station ... More>>

ALSO:

Govt: Extended Loan Scheme Keeps Business Afloat

Small businesses are getting greater certainty about access to finance with an extension to the interest-free cashflow loan scheme to the end of the year. The Small Business Cashflow Loan Scheme has already been extended once, to 24 July. Revenue and Small ... More>>

ALSO:

Science: 2019 Prime Minister’s Science Prizes Announced

The 2019 Prime Minister’s Science Prizes have been announced in a digital livestream event today. The Prizes recognise the impact of science on New Zealanders’ lives, celebrate the achievements of current scientists and encourage scientists of the ... More>>

ALSO:


RNZ: Fuel, Alcohol Costs To Go Up From Today

The increase today in the taxes on fuel, road user charges and alcohol is being called a tone-deaf move. More>>

ALSO:

Stardome Observatory: Young Kiwi Astro-Photographer Shoots For The Stars

Matariki by Josh Kirkley. The stars are aligning for up-and-coming Auckland-based astro-photographer Josh Kirkley (Kāi Tahu). During lockdown, one of his images was picked up by NASA and shared on the space agency’s Instagram to its 59.2 million ... More>>


DCANZ: Time For EU To Commit To A Level Playing Field For Trade

The Dairy Companies Association of New Zealand (DCANZ) has welcomed New Zealand Trade Minister David Parker’s statement that it is unacceptable for New Zealand exporters to continue facing an ‘unlevel playing field’ in the EU. Details leaked ... More>>

ALSO:

Potatoes New Zealand: Protecting NZ Fries As Part Of PNZ Pandemic Recovery & Transformation Plan

Potatoes New Zealand has met with Minister Faafoi this week to discuss investigating the potential importation of heavily discounted frozen potato chips into New Zealand. With MBIE’s support we are undertaking an investigation to gather evidence of the ... More>>

ALSO:


New Zealand Government: Supporting Kiwi Businesses To Resolve Rent Disputes

The Government will legislate to ensure businesses that suffered as a result of the COVID-19 response will get help to resolve disputes over commercial rent issues, Justice Minister Andrew Little announced today. More>>

ALSO: