Online grocery platform Your Food Collective has launched a capital-raising round, seeking $1.2 million to fund expansion through the equity crowdfunding platform, Equitise.
Founded in 2017 by Lauren Branson (CEO) and Cara Cooper (COO), pictured above, Your Food Collective describes itself as a “local, ethical and regenerative online grocery platform”. It delivers fresh food to consumers in Sydney, Newcastle and surrounding districts five days a week, offering fresh produce, artisan foods and meal kits.
A profit-with-purpose company it has already delivered nearly 50,000 orders, achieved over 60 per cent reduction in household carbon emissions for over 15,000 households, and reduced food waste by up to 50 per cent across the supply chain.
The B Corp-certified business has created a market opportunity for local, ethical and regenerative products from more than 100 growers and producers, creating a blueprint for a carbon-positive food system. Throughout the entire supply chain – from sourcing to end consumer, the company is focused on regenerative practices and circularity.
“If we can get food right, starting with the health of our soil, how our food is going, who it’s grown by and where it’s grown we can drive significant change and start building a food system that will nourish our people and the planet,” explains Branson.
“It’s not easy but we’ve built technology and an operating system to get better food to more people and celebrate sustainable farming practices. And it tastes bloody delicious!”
Since its launch, the business has grown at a triple-digit growth rate and is on track to achieve $5 million in sales FY22.
Branson says the equity raising will help the company achieve a near-term revenue target of $28 million in FY24 from the Sydney and Newcastle markets.
Moving forward, Branson says Your Food Collective is eyeing a nationwide service to scale its offering and impact across Australia.