Medical Kiwi, a Medical Cannabis Startup, Raises $400,000 First Day on PledgeMe

Medical Kiwi, a medical Cannabis firm, quickly raised almost NZ $400,000 on its first day on New Zealand investment crowdfunding platform PledgeMe.

According to the offering page, Medical Kiwi has raised just shy of $400,000 from 176 individual investors. The offering is seeking a minimum raise of $500,000 and a max raise of $3 million. Investors will receive equity in the company at $1 a share representing an 8.43% stake in the firm at the max amount. Individuals who invest over $40,000 will receive voting shares.

In a release, Medical Kiwi C]co-founder and Chairman Aldo Miccio said he is confident the market is poised for success as 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,” said Miccio.

Medical Kiwi reports that it has already sold its first two years of production to Hektares, an established firm in the medical cannabis industry, equating to $30 million for 2021, and $60 million in 2022.

The company says the funds raised from the PledgeMe campaign will help deliver these orders and prepare for more through further research and development while completing their first Christchurch-based growing facility.

The PledgeMe platform states that it has previously run three successful medical cannabis equity campaigns, raising over NZ $7 million.

PlegeMe founder Anna Guenther stated:

“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.”

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