Founder Matt Butler, who quickly changed tack when his fly fishing guiding business — reliant on overseas tourism — was hit by Covid-19 and decided to tackle problems he saw in the outdoor gear industry, particularly equipment and accessories, hopes to raise $500,000 this month.
The company was fully funded through crowdfunding campaigns, he said. To date, it had raised more than $700,000 from product-focused Kickstarter campaigns and sold 18,000 items to more than 8000 customers.
“This equity crowdfunding approach enables us to double down on our success to date and invest into product development and brand building in our key markets,” Mr Butler said.
Kea Outdoors launched its first product, a compact outdoor survival kit for storing first aid equipment and outdoors tools, via Kickstarter in 2021 and raised more than $300,000 in 35 days. It remains the second-most funded design crowdfunding campaign in New Zealand.
The company has since expanded internationally and has distribution warehouses in the United States, Australia, New Zealand and China and has shipped to more than 50 countries.
The latest campaign was the company’s first capital raise and new investors can buy shares for a minimum investment of $1000 through the PledgeMe campaign.
