Snowball Effect capital raise recap: Q4 2023 and Q1 2024
- Written by Snowball Effect
- Published on
The 2023 calendar year drew to a close with several exciting capital raises featured on Snowball Effect's platform for New Zealand businesses in the agri-tech, beverages, and transport industries. These included capital raises for Trev, All Good, Mevo, and Invivo in quarter four of 2023 and Mindhive in quarter one of 2024. Below are the key highlights from these raises.
Mindhive is a hardware-enabled software solution that uses machine vision-enabled AI to automate decision-making in industrial processes. It detects defects with higher accuracy and consistency than the human eye, allowing real-time quality control and materials grading. Used by leading global leather tanneries, Mindhive's technology has proven application in a second vertical ofmeat-packing.
Mindhive successfully raised $1.5m in growth funds, enabling the New Zealand business to expand further into Brazil, Mexico and Europe over the next three years.
New Zealand winery Invivo has a plethora of global fans, including Hollywood royalty Sarah Jessica Parker and British talk-show host Graham Norton, who have their own wine ranges with Invivo.
Along with wine, Invivo also makes gin and vodka and is stocked in 43 countries around the world. The winery has won numerous awards, recently being awarded #29 in Wine Spectator's Top 100 wines in the world for 2023!
Invivo raised over $1.6m, which was used to fuel continued global export growth. This was the third time Invivo has raised growth funds via Snowball Effect's platform.
Mevo is New Zealand's leading tech-driven car-sharing service. It provides on-demand car access as an alternative to private ownership and corporate fleets. With over 40,000 members, including hundreds of business and corporate clients such as Beca, Meridian Energy, and government departments, Mevo offers car-sharing services in main New Zealand cities.
Mevo successfully raised $1.9m via Snowball Effect, which, paired with an additional $2.3m in funding, took their total amount raised to $4.2m. The capital raised has enabled Mevo to support continued expansion around New Zealand.
Amount raised: $753k was raised via Snowball Effect Single largest investment: $150,000 Other large investments: $100,000 and $50,000
Leading New Zealand food and beverage brand All Good's range of oat milk and fairtrade bananas are stocked at supermarkets around the country. All Good's purpose is to make products that are good for the land they're grown on, good for the people who grow them, and good for the customer. Since its New Zealand launch in 2010, All Good has expanded into offshore markets such as Seoul, Singapore, Dubai, Abu Dhabi, Riyadh and Hong Kong.
The $753k raised by All Good has enabled the award-winning Kiwi brand to continue driving profitable growth both locally and in global export markets.
Amount raised: $1.3m was raised via Snowball Effect Single largest investment: $150,000 Other large investments: $100,000 and $50,000
Trev is an industry-leading farm reporting tool that helps farmers deliver better productivity, profitability, and sustainability outcomes. Nearly 1,000 farms use the platform, and Trev's vision is to be New Zealand's favourite farm reporting and insights platform.
Trev successfully raised over $1.3m via Snowball Effect's platform. Funds raised have enabled the agri-tech business to continue to expand locally and explore international opportunities.
