Plant-based chocolatier Loving Earth going global after $485,000 equity crowdfunding raise
Plant-based organic chocolate maker Loving Earth is preparing for the next stage of its post-pandemic journey armed with $485,000 in new funding.
Plant-based organic chocolate maker Loving Earth is preparing for the next stage of its post-pandemic journey armed with $485,000 in new funding after investors backed the Melbourne-born business via an equity crowdfunding campaign.
Loving Earth secured the $485,006 in funding from 307 investors via equity crowdfunding platform Birchal, with the investment offer closing on December 1, 2022.
The family-owned plant-based superfood and chocolate company was started in 2007 by founders Scott Fry and Martha Butler, who is also the brand’s chief creative officer.
Today, the company has headquarters in Scoresby, Victoria, and employs 30 people, most of whom are based out of its manufacturing facility where it produces chocolate for both domestic and overseas markets.
Loving Earth makes bean-to-bar chocolate from Pure Heirloom cacao beans, which have been grown by the indigenous Ashaninka community in the remote Amazon forests of Peru where cacao originated.
The chocolate maker also uses superfoods from South America, Pink Lake salt from South Australia, and Jilungin dreaming tea from the Kimberley.
According to its Birchal profile, Loving Earth is on a mission to be one of the world’s most loved ethical brands, while creating true value for the earth’s natural assets. Its business model is based on building a well-recognised plant-based brand across multiple channels in the chocolate, superfoods, pantry and cereals categories.
Fry says the company is excited about the results of the equity crowdfunding initiative.
“It’s something we have been considering for a while. Instead of having one major investor, we have 307 different investors,” he told SmartCompany.
“It feels good to have these people on board and we look forward to working with them moving forwards.”
With this raise, Loving Earth plans to increase its global sales and continue to grow the company over the next five years by expanding its share of the vegan product category through innovation and new product development and increasing its product range in existing distribution channels.
Loving Earth will also focus on developing and growing new distribution channels, particularly in e-commerce, increasing its social and environmental impact, growing its presence in export markets and growing its team, recruiting in key areas to support its growth plans.
Fry says the plan also involves refreshing its brand and packaging across the current range and new products.
“Loving Earth is a maker to its core and we are passionate about chocolate,” he said.
“The main things we are working on are product development and e-commerce platforms. We are undergoing a makeover of the brand.
“Everything is accelerating and we want to keep the brand fresh.”
Fry says holiday sales were tracking well, with a new range of bonbons, truffle balls and berry bliss, matcha latte and strawberry chocolate coated hazelnuts among the Christmas favourites for this year.
The brand has also released a new range of ‘superfood’ products, using flavours such as orange and ginger, peppermint and aniseed and lemongrass and Davidson plum. Loving Earth uses 69% dark chocolate in the superfood chocolate bars, which are made at the company’s Melbourne factory using sustainably-grown, raw organic Australian cane sugar.
“We call them ‘chocolate with benefits’ because the superfoods in each bar benefit the body and the zero waste packaging benefits the planet,” Butler added.
