Based on its early Expressions of Interest (EOI) on the Birchal platform, Steingiesser said the company is on track to raise a further $1-$2m for its next phase of growth.
That’s in addition to a separate $1m funding recently raised from sophisticated investors at 20c a share – a 30% premium to the first crowdfunding raise last October.
And with an investor base of more than 500 investors, Good Earth has formalised a mandate with a tier one Australian broker to work towards further advancing their global ambitions.
For now, the company is looking to build on its early success on Birchal with its second crowdfunding round“In in terms of our valuation, it makes sense to bring in another $2-$3m now – most of which we have commitments for — so we have the capital to secure our plans for a 5,000-head dairy farm and commence execution of our powder facility.”
“We’ve also applied for a federal government grant, to support the funding of our $8.8m powder facility,” Steingiesser said.
It adds up to a strong set of tailwinds forming behind the business, as it converts a multi-year development phase to a global market opportunity.
“If you look at the pure powder market in China, camel milk powder is selling for over $120 per tin for 300g of powder,” Steingiesser said.
“On those numbers alone, our annual 3 million-litre production quota will have a current market retail price of over $120m.”
“Our goal is to become premium infant formula brand on a global scale, and also to be a core commodity producer of camel milk powder.”
