Left Menu
Development News Edition

Puro smashes PledgeMe’s previous crowdfunding record

More than 700 pledgers have invested a total of $2million in Puro’s Equity crowdfunding campaign.


Puro smashes PledgeMe’s previous crowdfunding record
PledgeMe’s previous record of $2.06 million was raised by Behemoth Brewing, who also ran Equity and Wholesale campaigns. Image Credit: Pixabay

After so far raising $2.9 million, medical cannabis company Puro has smashed PledgeMe's previous crowdfunding record and will start growing low THC hemp in Marlborough this week.

More than 700 pledgers have invested a total of $2million in Puro's Equity crowdfunding campaign. While the Equity campaign is now fully subscribed, there is still one week to go in Puro's Wholesale campaign, which has a minimum investment of $50,000 and has so far raised $900,000.

Puro managing director Tim Aldridge says the investments from everyday kiwis have been humbling and will allow them to start growing.

"With licenses in place and funds secured we're ready to grow - reaching this milestone is huge and were proud to be doing it in Marlborough."

PledgeMe's previous record of $2.06 million was raised by Behemoth Brewing, who also ran Equity and Wholesale campaigns.

Three hectares of low THC hemp will be planted this week at Puro's Kekerengu site.

"We're starting off with 3 hectares, and will look to expand to 25 hectares within the next two years. Kekerengu provides the perfect conditions, with a coastal microclimate that is ideal for hemp production," Aldridge says.

The $2.9 million raised through PledgeMe will be used to build medical cannabis growing facilities and buy state-of-the-art processing equipment.

Aldridge is urging those interested in investing in the Wholesale offer to get in quick.

"With less than a week to go in our Wholesale campaign people thinking about investing need to act quickly - to ensure they get in at the ground floor of this rapidly expanding market," says Aldridge.

Puro's Wholesale campaign has so far raised $900,000. The crowdfunding campaign will close either on 6 December or earlier if it reaches its $2million maximum.

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION/BLOG/INTERVIEW

WEF2020: Trump seems politically correct in pulling out from Paris Agreement

If the survey of the World Economic Forum WEF is believed, Trump seems to enjoy the confidence of his people in flaying climate intuitions and climate activists. His preference for economic development over environmental protection not only...

From home to healthcare, here are Robotic innovations transforming lives

Lovot is equipped with more than 50 sensors such as thermography, microphone array, obstacle detection, and touch sensor to generate motion and emotions in real-time....

Translating words to deeds: Achieving gender parity in access to financial resources

... ...

SDG13: How you can reduce global warming by changing your food habits

The mega narratives of various international organizations give the impression that fighting global warming is only a job of government agencies. However, the European Investment Bank EIB has designed a questionnaire which besides making th...

Videos

Latest News

Celtics hoping to build momentum against Grizzlies

The Boston Celtics made a statement in their last win, but theres still work to be done as they host the surging Memphis Grizzlies on Wednesday night. The Celtics enter off a 139-107 rout of the Western Conference-leading Los Angeles Lakers...

Maltreated tigers and lions, rescued from Guatemala circuses, arrive in South Africa

Twenty-one lions and tigers rescued from Guatemala arrived at a wildlife sanctuary in South Africa on Tuesday after an animal conservation and protection group said they endured years of severe confinement and maltreatment. The team from An...

Coal states ask Supreme Court to overturn Washington coal terminal ban

Wyoming and Montana, two coal-producing western states, on Tuesday asked the U.S. Supreme Court to invalidate Washington states decision to block on environmental grounds a coal export terminal intended as an outlet to Asian markets.Wyoming...

UPDATE 3-DAVOS-Trump to break bread with Apple's Cook and other CEOs -sources

U.S. President Donald Trump will attend a breakfast meeting on Wednesday with Apple Inc Chief Executive Tim Cook and other business leaders on the sidelines of the annual meeting of the World Economic Forum in Davos, Switzerland, according ...

Give Feedback