Australian-based food delivery service Our Cow has successfully completed a record-breaking capital raise on the crowdfunding platform Birchal, raising $2,096,150. The campaign received more than $100,000 in pledges within the first 15 minutes of opening, and $1 million was raised in the first day alone, breaking previous records on the platform. Our Cow co-founder Bianca Tarrant expressed her appreciation for the support, noting that their customers have always been loyal and enthusiastic about their products and services. She thanked everyone who participated in the round and said the funds will be used to help the company achieve its goal of becoming the biggest and best food delivery company in Australia.
Our Cow has made significant strides since its launch in 2019, with over 50,000 customers and an annual recurring revenue of $20 million. The company is also supporting more than 150 farmers across Queensland and New South Wales. Its processing facility is located in Casino, and the company recently acquired the business assets of VOLY, a grocery delivery startup. Our Cow’s expanding list of basket items now includes a new fresh seafood line that offers prawns and fish delivered straight to your door.
Birchal CEO Matt Vitale was amazed at the support Our Cow received from the public, calling it an encouraging sign for the start-up community, as investors continue to look for growth businesses to back. The crowdfunding platform had never received so many registrations for an investor webinar before, and it had to update its Zoom account to accommodate all the registrants.
“Our Cow’s success is timely as many families look to balance cost-of-living pressures with maintaining nutrition and quality produce, and Our Cow uses technology to connect farmers and consumers to benefit both,” Vitale said. “We’re thrilled for Our Cow, and the funds raised will enable the company to expand its range of fresh food, improve delivery times, and expand nationally.”
The success of the crowdfunding campaign is a testament to the growing interest in the food delivery industry and Our Cow’s ability to leverage technology to connect consumers with fresh produce from local farmers. With the funds raised, the company can further expand its range of products, improve delivery times, and establish a national presence. The campaign’s results are an encouraging sign for start-ups looking to make their mark in the food delivery space, demonstrating that investors are still willing to support strong growth businesses they believe in.