Revvies brews up equity crowdfunding for caffeine energy strips
Health & Biotech
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A caffeine hit that simply dissolves on the tongue and delivers energy within minutes.
That’s the premise behind equity crowdfunding opportunity, Revvies – the first offered by crowdfunding platform OnMarket.
Revvies is looking to raise between $250,000 and $450,000 at $1 a share to expand the business and further research and development of its energy products.
Founders Jacqui and John Nolan-Neylan developed the product as a fast-acting caffeine boost without sugar initially for those “on the go”. But it has since become a hit with elite athletes.
Made in the UK, each strip contains 40mg of caffeine — equivalent to half a can of energy drink or coffee — but hits within minutes.
“There is nothing In Australia or New Zealand that we have seen like this in any way. For sporting teams, it means they can take a couple of strips before a match and again at half-time,” Mr Nolan-Neylan told Stockhead.
“What we’ve found is that athletes end up taking less caffeine, but more frequently. Because of its purity and speed you can manage caffeine in-take in a very different way.”
The product is used by several teams in the NRL as well as the Super Rugby, Super Netball and for high performance sport in New Zealand.
But the founder stressed they were just as good for a 3pm pick-me-up, made easily available at Chemist Warehouse chains across the country.
In the six months to December, the company made $39,000 in sales, and had $6,690 left in the bank.
He said the decision to raise capital through equity crowdfunding was a chance to get its biggest fans in on the business.
“We wanted to utilise the people that were our customers and give them a chance to buy into our business and along the way, to build brand champions – now they get to share in our growth financially.”
In less than a week the company has raised more than half of its target, with 71 investors pledging to contribute close to $130,000.
If successful, funds will be directed towards marketing, working capital and to fund empirical research of the products utility.
More information: https://www.onmarket.com.au/offers/revvies-energy-strips-limited