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Australian Honey Ventures raises $1.5 million in second crowdfunding initiative

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Aimee Glossop
Australian Honey Ventures
// //The company has generated a buzz with total capital raised exceeding $2.3 million in just eight months

West Australian Australian Honey Ventures (AHV) has generated a huge buzz between investors, seeing the company land over $1 million in capital just 30 minutes after launching its campaign on crowdfunding platform Birchal.

The honey aggregator aims to revolutionise the industry by facilitating the local and international sale of Australian medicinal honey while ensuring fair returns for beekeepers, a vision over 480 initial investors have been eager to back.

The Gingin-born company has experienced a flood of interest since its debut on Birchal, with 1256 Australian investors registering their interest in the cause.

At the time of writing, AHV’s second crowdfunding campaign has attracted 591 investors, with the current investment totaling over $1.5 million and rising.

Total capital raised exceeds $2.3M after stellar second round

The company’s initial crowdfunding initiative held in June of last year raised $790,000, capturing the attention of 538 investors and contributing to the finalisation of two international export deals in Kuwait and the United Arab Emirates.

Now, with the addition of the latest round of crowdfunding, AHV’s total private investment raised within the span of 8 months has surpassed an impressive $2.3 million.

The startup has outlined plans to use its newfound capital to support its expansion, particularly as demand from international markets continues to grow.

AHV CEO, Jay Curtin described the experience of seeing everyday Australian’s back AHV’s vision as “humbling”.

We are stoked that over 480 initial shareholders have jumped straight in and thrown their support behind our business as we continue to grow our global presence as a purpose-driven social enterprise.

Jay Curtin, AHV CEO

“The funds raised from our second crowdfunding campaign will help us scale our operations particularly for our Real Good Honey brand, which is expected to land on shelves in the Middle East in the coming months.

“It will also help us launch our domestic Australian offering, which is currently in the works with leading Australian supermarkets,” Ms Curtin explained.

Ms Curtin said AHV expects a record sell out for their second round of crowdfunding, as an overwhelming response in the initial 24 hours set the tone for a stellar campaign.

With a promise to strive for the greater good of the global honey industry, AHV has committed to upholding sustainable and fair-trade practices within their operations.

This includes their innovative business model, which gives all Australian beekeepers partnered with AHV the opportunity to earn their income as a percentage of the wholesale packaged price, rather than a fixed rate.

Australian Honey Ventures raises $1.5 million in second crowdfunding initiative
Nick Cummins (co-owner), Jay Curtin (CEO of AHV) and Stephen Fewster (chairman of AHV). Image – Supplied

Racing mogul backs vision for fairer honey industry

The cause has attracted several high-profile investors, including Group 1 racehorse owner and Vietnam war veteran Geoff Grimish, and professional rugby player turned media personality Nick “The Honey Badger” Cummins.

Mr Grimish is an established name within the racing industry, investing in several racehorses over time including a gelding formerly owned by the Queen.

Mr Grimish has now set his sights upon an investment of a sweeter kind, committing to $500,000 in funding to support AHV as an anchor investor.

AHV has a groundswell of potential behind its unique operating model, which is why I decided to dedicate half a million dollars in support of the business.

Geoff Grimish, AHV Anchor Investor

“Among the immediate market opportunities in the Middle East, is the potential to incorporate Australian eucalyptus medicinal honeys with exceptionally high levels of hydrogen peroxide to develop a natural treatment for bacterial and fungal infections.

“This could make way for a revolutionary treatment of skin infections in both humans and animals — something I have also committed to funding through the West Meade University medicinal research program,” Mr Grimish added.

Birchal Managing Director and Co-Founder, Matt Vitale said the platform is thrilled to see AHV returning to Australian people via crowdfunding for their second capital raising initiative.

“AHV is pioneering a new model for Australian honey, designed to achieve better outcomes for producers, consumers and the Australian economy.

“So, it’s no surprise that thousands of Australians have supported Jay and the AHV team to shape a future we all want to see,” concluded Mr Vitale.

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Aimee Glossop

Aimee has a keen interest in reporting on the latest developments in the Western Australian business community, as a Startup News Contributor and Reporter at The Property Tribune. She is eager to expand her skill set as a student journalist while working towards a Bachelor of Arts and Commerce at Curtin University, majoring in Journalism and Marketing.
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