Poppy’s Picnic, a UK-based raw dog food brand, is set to close its equity crowdfunding campaign on Crowdcube with more than £550,000 from nearly 600 investors. The funding round was launched last month and successfully secured its initial £350,000 funding target for its upcoming cat food line.
As previously reported, Poppy’s Picnic produces fresh raw dog food, which is handmade in Wiltshire, by using local ingredients. The company stated that since going online in October 2016 it has sold more than 380,000 meals (based on UK average dog size) and profitable to September 2017 (£20,659 net profit). The company also reported it started to export to Hong Kong in early 2017 and secured a partner for Malaysia and Indonesia for its upcoming cat food line. The company has also made an appearance on the television show “Dragons Den.” While sharing details about the campaign, Founder of Poppy’s Picnic Dylan Watkins recently stated:
“Crowdfunding gives us the opportunity to grow our production, make more dog food and introduce cat food. It means we can offer our lovely customers actual shares in our business and take them with us on our exciting journey. It means that we can keep pet owners and their four-legged friends are at the centre of everything we do. Of course anyone can get in on the action, from as little as £10. After appearing on Dragons’ Den (recorded back in May 2017), we didn’t want to give the dragons a big bite… we’d rather be in business with you.”
The campaign is currently set to close on Monday.
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