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International Internet Magazine. Baltic States news & analytics Thursday, 25.04.2024, 13:01

Estonia: Investors register indication of interest for EUR 642,000 in Chaga crowdfunding

BC, Tallinn, 26.05.2020.Print version
Investors have registered indication of interest to the amount of 642,000 euros in a financing campaign on Funderbeam for the company Chaga OU, a maker of natural food supplement products under the Chaga Health brand since 2014, writes LETA/BNS.

Chaga launched a campaign on Funderbeam aimed at raising up to half a million euros for expanding to new markets and innovation.


Due to oversubscription, the indication deadline was brought forward to midnight on May 22, 2020.


The sum total eventually raised when it comes to indication of interest is bigger by almost one-third than the target.


Chaga OU manager and founder Siim Kabrits told  that the company was thankful to investors who have trusted them at the difficult time when it comes to raising investments.

Investors numbered over 400, most of them are based in Estonia, and great interest could be observed from people connected with the field of medicine and forestry.


Kabrits also said that the period of crisis has had a positive effect on the company's sales figures. 


Chaga products are sold in Australia, Hong Kong, Norway and Germany. The next target for the company is the US market. 




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