Perth-based agtech start-up Urbotanica is working with equity crowdfunding platform Equitise to raise $700, 000 to support its expansion into Asia.
Urbotanica’s first product is called the UrbiPod Indoor Smart Garden, a self-watering kitchen benchtop appliance that uses advanced LED growing technology to allow consumers to grow food indoors including salads, greens and herbs.
Urbotanica Managing Director, Ray Hart, said “the growth of grow-your-own food in Australia is phenomenal and we wanted to be part of this growing revolution, particularly for people living in smaller urban environments such as apartments and in regional areas where water is becoming increasingly scarce.”
“Australian’s spend a staggering $4 billion on supermarket herbs each year and the average Australian shopping basket has traveled 70,000kms and creates 16,000 tonnes of CO2,” said Hart.
“People can save money, eat better without costing the earth by growing their own food at home, in their own kitchen.”
The company now has 2,000 UrbiPod Indoor Smart Garden units in the Australian market.
“It’s been a tremendously exciting campaign, welcoming so many customers and followers of Urbotanica as co-owners in the company. The 60 investors so far have taken us to over 50 per cent of our investment target, with the investor rewards proving very popular,” said Hart.
There has been significant interest from Asia for the Australian designed and made UrbiPod and China’s rapidly growing middle class is one such opportunity.
Co-founder of Equitise, Chris Gilbert said he is eager to see the consumer interest in Urbotanica from the crowd funding.
“Urban Agtech is a rapidly growing space with some of the biggest global trends feeding it, including global warming, sustainability, health and wellness and urbanisation,” said Gilbert.
“Urbotanica has built a great team to capitilise on the potential within this unique market and the UrbiPod is a fantastic launch product that is already experienced success in Australia. With over 4.7 million Australian households growing their own food, there’s a real demand for this product here and overseas.”