Paddock to plate food delivery service Our Cow has completed a $2,096,150 capital raise, in so doing breaking records on Birchal, the crowdfunding platform used for the campaign.
More than $100,000 was pledged in the first 15 minutes of the offer opening and $1 million was raised within the first day.
Our Cow co-founder, Bianca Tarrant, said the company was thrilled with the support, particularly from customers.
“Our customers have always been particularly loyal and enthusiastic about our product and service and it was truly wonderful to see that translate to support for the company,” Tarrant said. “We want to thank everyone who participated in the round which will go a long way to helping us with our goal to become the biggest and best food delivery company in Australia.”
Birchal co-founder and CEO Matt Vitale said the platform had never seen such support for a start-up business.
“We had never had more registrations for an investors webinar. We had to update our Zoom account to accommodate them all,” Vitale said. “The strong consumer response to Our Cow had investors keen to get involved, as they continue to look to back strong growth businesses. It should be an encouraging sign for the startup community that investors are still backing businesses they believe in.
“We’re thrilled for Our Cow,” Vitale added. “It’s timely for them to be raising, as many families look to balance cost-of-living pressures and maintaining nutrition with quality produce, with Our Cow using technology to connect farmers and consumers to benefit both.”
Since its launch in 2019 Our Cow has attained significant growth, reaching $20 million in annual recurring revenue from over 50,000 customers and supporting more than 150 farmers across Queensland and New South Wales. The company has a processing facility in Casino and recently acquired the business assets of grocery delivery startup VOLY. It has also added a new fresh seafood line to its expanding list of basket items, including prawns and fish delivered straight to your door.
The funds raised will enable the company to expand its range of fresh food, improve delivery times and expand nationally.
