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Queensland, Australia (07/09/2023) — Sprout Organic Pty Ltd (“Sprout” or the “Company”), the Australian infant formula company behind the world's first vegan and organic infant formula, has raised $1 million from its own customers in a recent crowdfunding campaign hosted by Birchal. The funds raised will primarily be used to accelerate the company’s international growth.
“This backing truly differentiates us from any other formula brand in the market. It’s a real testament to the power of a collective customer community, and a clear signal that our customers not only believe in our products, but are invested in our mission to revolutionise kids nutrition,” said Selasi Berdie, founder and CEO of Sprout Organic.
“Having $1 million in customer funding also opens doors for us that traditional venture capital couldn't. It gives us the unique opportunity to be more agile and responsive, to directly tap into our community's insights, and to foster a culture of inclusivity and shared success,” he added.
“We now have 500+ shareholders who are also our customers, making our investors our most valued critics and brand ambassadors. As we set our sights on international expansion, it's empowering to know that our customers will be writing our next chapter with us. Their belief in our mission and products not only fuels our growth, but ensures that we're creating solutions that have a genuine, global impact,” said Nadia Schilling, CMO of Sprout Organic.
“We're not just a company making a product; we're a movement fueled by a community. This journey, now backed so generously by our customer-shareholders, amplifies our resolve to deliver high-quality, plant-based alternatives that parents can trust, wherever they are in the world,” she added.
Within 24 months of trading, Sprout Organic gained national distribution across 2,000+ stores in Australia, including popular pharmacy chains Chemist Warehouse and TerryWhite Chemmart. The company has also secured three international distribution deals in New Zealand, Malaysia, and the United Arab Emirates.In 2022, Sprout Organic’s plant-based infant formula was crowned ‘Best Children’s Product’ at IFE’s World Food Innovation awards in Europe.
Contact: Nadia Schilling, nadia@sproutorganic.com.au, 0469 545 424
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