Phytotecnia
Age of company:
2 years
Sector:
Medicinal Cannabis
Annual Revenue:
$25k in 2020
Campaign link:
Total Raised:
$1.4 million
Number of Pledges
371
Country:
New Zealand
Phytotecnia is a Kapiti coast-based medicinal cannabis company with an approach focused on science and horticultural expertise.
Background
In 2018, Irene Lรณpez-Ubiria and รlvaro Vidiella-Salaberry were introduced to medicinal cannabis through their careers as agricultural engineers. Initially sceptical, they soon became convinced of its medicinal and scientific possibilities. They also realised that the industry faced many challenges, from a lack of scientific knowledge and research to the stigma surrounding the product. They decided to go after it and founded Phytotecnia in 2019. By late 2020, they were ready to welcome members of the New Zealand public on board as investors.
โWe humbly believe that Phytotecnia will be really profitable for many people in many ways. Hopefully, you will reach the same conclusion and want to join us.โ
Timeline
โThanks รlvaro and Irene, we look forward to sharing this journey with you.โ
What worked well?
Recommendations for future campaigners
Media features - Phytotecnia managed to get a lot of press coverage around their campaign, from local publications to national publications, such as the New Zealand Herald.
They really owned the campaign - Although PledgeMe was there to equip them through the CrowdfundingU sessions and amplify their campaign, Irene and รlvaro did not rely on the PledgeMe team to bring the crowd or run the campaign. The founders took charge of it, from start to finish, and it showed.
They kept their pledgers updated - After major milestones (such as the $1 million mark), they posted updates to the campaign page, a great way to keep pledgers (and potential pledgers!) engaged.
They stayed true to themselves - Throughout the campaign, they kept their own authentic voice in all campaign materials and communications.
Phone calls - Using PledgeMeโs pitch and framing suggestions, they called people to ask them to join them on their journey, something that had initially been a daunting prospect.
What could be improved?
Recommendations for future campaigners
Paid advertisements - Paid advertisements in local papers did not seem to have much effect, especially when compared to the newspaper articles (which saw an increase in pledges after each feature).
Having a pitch video from the start - Although Phytotecnia created a simple but lovely pitch video for their campaign, they only did this after their campaign had already launched.
Conclusion
Phytotecnia raised $1.4 million and has +300 shareholders.
Your action plan
Putting it into practice
Be prepared to invest time and effort into your campaign
As a founder, make sure you are involved in the campaign from the very beginning. Own the campaign and know ahead of time that it is hard work, but very rewarding.
Have a fully fleshed out comms plan
Work with your communications team/staff to develop a fully fleshed out communications plan for your campaign, from social media posts to media outreach.
Be honest, put yourself out there, and be you.
Equity crowdfunding is about so much more than a possible financial return. Your crowd want to support you because of who you are and what you believe in. Donโt be afraid to give them that.
How can PledgeMe help?
Get in touch
If youโre considering an equity crowdfunding
campaign, weโre ready to help. Contact us for a chat.
You can also learn more about creating a crowdfunding campaign in Australia or in New Zealand.
