Medical Cannabis Company Medical Kiwi Raises Almost $400,000 In A Day
Nelson-based startup Medical Kiwi launched a PledgeMe campaign yesterday that aims to raise up to $3 million through equity crowdfunding and wholesale investors. $384,039 has been pledged through the platform by 166 investors in less than a day.
Co-founder and Chairman Aldo Miccio is confident the market is poised for success: “Medical cannabis is the next big wave in the medical world. In New Zealand alone, over the next ten years, it could be a $1 billion market opportunity.”
Medical Kiwi has already sold its first two years of production to Hektares, a global player in the medical cannabis industry, equating to $30 million for 2021, and $60 million in 2022.
The funds raised from the PledgeMe campaign will help deliver these orders and prepare for more through further research and development, completing their first Christchurch-based growing facility, and buying the oil extraction equipment.
Medical Kiwi is seeking to raise between $500,000 to $3,000,000, which represents up to 8.43% of the company. Shares are $1 each with a minimum investment of $500. Investors will receive non-voting shares, and those who pledge over $40,000 will receive voting shares.
“We’re running a campaign on PledgeMe because we want to give fellow Kiwis the opportunity to invest and become shareholders in Medical Kiwi,” Miccio says.
The PledgeMe platform has previously run three successful medical cannabis equity campaigns, raising over NZ$7 million from over 2,300 investors.
PlegeMe founder Anna Guenther says, “We’re excited to be working with a company that creates a real impact in the lives of Kiwis who live with a variety of medical conditions. Medical cannabis campaigns have historically activated a wide crowd of support, so we’re excited to see Medical Kiwi’s crowd is no different”.
Medical Kiwi’s equity crowdfunding campaign launched publicly on 17 August at 12 pm.
You can find the campaign and information
memorandum here: https://pledgeme.co.nz/investments/412