Wednesday, 3 February 2016
Farmdrop secures a £3m investment
Farmdrop have secured a £3m investment in their on demand farm produce delivery business. CH shows a new allotment in 2015 for ~£2m but its unclear if this is part of the new announcement or a seperate issue.
We wrote about them after their £750k raise on Crowcube in 2014
Hard to know what to make of this latest development. It has to be better than the business struggling along as it was before, but what of the dilution to CC investors?
We dont have a value for the new equity but considering where Farmdrop were - ie nowhere near to their projections - it seems likely that the VCs will have cleaned up at the expense of the early Crowdcube adopters.
Anyone out there who knows - please tell.
Will be a very interesting watch for the next few years.