Done Deal: Recent fundings secured, contracts inked and deals did, for the tl;dr crowd
Auckland-based food storage company Sistema Plastics is being purchased by US-based Newell Brands for $660 million (US$470 million). Co-founded by managing director Brendan Lindsay in a Cambridge garage 34 years ago, Sistema currently exports to 82 countries and employs about 700 staff. Considered a major competitor to storage company Rubbermaid, Sistema is best known for its reusable plastic food containers which snap shut via an interlocking system.
Equity crowdfunding platform Equitise’s annual loss has more than doubled, to about 80 percent. However, the company has also dramatically increased revenue, from A$32,096 last year to $A179,197 in the year to June 30. Although Equitise uses Australian dollars for its transactions, equity crowdfunding is illegal in Australia. The company is able to get around that, however, by running its deals through New Zealand – a move which is legal.
Timaru dessert makers Denheath have exceeded their target with a Pledge Me crowdfunding campaign. The company raised $369,001 from 162 backers. They had been seeking $300,000 for factory upgrades, a new website, establishing a New Zealand and Australian retail presence, and pursuing new export markets, among other initiatives.
Coastline and waterway restoration charity Sustainable Coastlines has successfully raised $75,366 to fund the build of The Flagship Education Centre in its Kickstarter campaign. The charity will build what it believes will be New Zealand’s most sustainable building in Auckland’s Wynyard Quarter, and it’s receiving the help of Kiwi smart home startup Jucebox to make it happen.
“The Sustainable Coastlines team will be able to turn the centre’s lights on and off from a smartphone anywhere in the world,” says Jucebox founder and CEO Ulrich Frerk. “That’s pretty cool but the real game changer we’re putting into New Zealand’s most sustainable building is a whole bunch of measuring equipment to monitor power generation and consumption. We’ll then show that data in a clear and interactive way inside the building to help visitors get a better understanding of how building energy consumption works.”
The Sustainable Coastlines Flagship Education Centre will house a range of displays to raise awareness and knowledge around ocean and freshwater conservation. It will sit on the corner of Beaumont and Madden Streets in Auckland, and will be open to the public from January 2017.
Jucebox founder and CEO Ulrich Frerk.
Following on from the launch of the Kiwibank Fintech Accelerator and Flux digital accelerator in October, Callaghan Innovation is asking for proposals from service providers to run a programme of business incubators and accelerators from mid-2017. Separate tenders will be run to find the providers for the founder incubator programme for 2017-2018 and 2018-2019, and the business accelerators for the same period. The accelerators will include a pilot programme focusing on Maori founders. The tender process closes on 3 February, 2017.
Callaghan Innovation start-up manager Elena Higgison says the programmes provide an important part of the start-up ecosystem in New Zealand, helping early stage businesses hone their product and business model in an environment that exposes them to plenty of guidance and inspiration. “Technology is not just a potential earner for the New Zealand economy, it is rapidly becoming a central pillar, along with the primary sector. The latest Technology Investment Network (TIN) report shows the top 200 New Zealand tech companies brought in nearly $9.5 billion in the past year, at an average growth rate of 12 percent. These programmes help increase the likelihood of a successful launch of technology-focused businesses that could be the next big export earners for New Zealand. The open tender is an opportunity to test the market to see if there are innovative models on how to deliver this type of support to businesses, including extending further reach into regions. Running the two tender processes in tandem also creates the opportunity for a provider with capability in both accelerators and incubators to look to pitch some exciting concepts for complementary programmes. The pilot Maori founder-focused accelerator is also a concept rich in potential, with the prospect of tapping into a strong entrepreneurial streak among Maori in business across a broad range of sectors.”
Callaghan Innovation start-up manager Elena Higgison.
Tauranga-based Roholm (which has designed a hair conditioning system that uses freezing temperatures rather than heat, known as the Inverse Hair Conditioning System) is seeking up to $1.5 million from equity crowdfunders through Snowball Effect. The company targets women between the ages of 25 and 65, in a global hair care market worth an estimated US$83 billion annually.
Invented by hairdresser David Roe, Roholm launched the Inverse Hair Conditioning System in Aotearoa earlier this year. It also has distributors in Germany, Brazil, Canada, France, the Netherlands and the UK, and plans on expanding into Australia, Italy, South Africa and the United Arab Emirates.
Roholm chief executive Daryl French.