Fundraising

Australian Raw Chocolate Brand Loving Earth Raises $485K Via Equity Crowdfunding

Loving Earth, a plant-based raw chocolate producer from Melbourne, Australia, has raised $485,000 through an equity crowdfunding campaign conducted on Birchal.

Over 300 investors participated in the campaign, and Loving Earth says it will use the funding to rebrand and launch new products. The company will also work to increase its global presence, recruit more team members, and expand via new distribution channels.

Loving Earth first launched its organic plant-based chocolate in 2007, and initially saw huge demand. However, major chocolate brands soon began introducing similar products, creating tough competition.

After facing further challenges during the pandemic, Loving Earth has only recently begun making a profit again. The company hopes the new funding will help it to get back on track.

Loving Earth
© Loving Earth

Fast-growing market

A report earlier this year predicted that the global vegan chocolate confectionery market would grow by 14.95% through to 2027, with market players increasingly exploring new vegan ingredients. Another report from the US echoed these findings, claiming that growing awareness of animal welfare and environmental issues was driving the market.

The latter research also noted an increase in the number of startups and small businesses producing vegan chocolate, along with growth in both online and offline distribution channels.

“Loving Earth is a maker to its core and we are passionate about chocolate,” the brand’s co-founder Scott Fry told SmartCompany. “The main things we are working on are product development and e-commerce platforms. We are undergoing a makeover of the brand. Everything is accelerating and we want to keep the brand fresh.”

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