Farmdrop has postponed a crowdfunding campaign set to launch this month after receiving an “incremental equity investment” from one of its existing investors.
In a message to people who had pre-registered to support the startup, CEO Eleanor Herrin said the company remained “committed to giving our community the opportunity to participate in Farmdrop’s future”. Crowdfunding will open “at some point in 2020” the message said.
Existing backers include venture capital firm Atomico – led by Skype founder Niklas Zennström, Wheatsheaf Group, Impact Ventures UK, Zoopla founder Alex Chesterman and Asos co-founder Quentin Griffiths.
People have been able to register their interest in backing Farmdrop on equity crowdfunding platform Seedrs since November.
At the time the company said it would use money raised to enable same-day deliveries, make its Made by Farmdrop ready meal range available on Deliveroo and City Pantry, launch a sustainable frozen food line and further reduce the packaging in its meal kits.
Herrin said the company had been “blown away by the level of interest in the business”.
“For now the campaign is temporarily on hold, but we will be back,” she added.
In August the startup raised £5m from investors, bringing the total raised since Farmdrop launched in 2012 to more than £25m.
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