T/A Happy Cow Milk Co

By Glen Herud

PledgeMe.Investment

Food,



NZ $279,512 pledged


258 people pledged


Closed


NZ $200,000 minimum target


Min

NZ$200,000

Max

NZ$1,000,000

100 100% Complete

This campaign was successful and closed on 27/11/2022 at 7:00 PM.

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About

T/A Happy Cow Milk Co

 

Caring, Kinder, Fairer Dairy

With our community's support, we’ve created our “Milk Factory in a Box”. A low-cost milk processing system that enables “non-experts” to pasteurise milk safely and efficiently.

It’s now easier for the good dairy farmers of the world to provide fresh local milk to customers who want to support more caring, kinder and greener dairy practices.

We’ve proven better dairy is also better business. Farmers who sell direct to customers can earn twice as much for their milk. With less than $1m of seed funding, we’ve made the world’s first milk factory and business in a box. We’ve installed it onto our first farmer’s property and we are generating revenue.

We believe we’re now on the path to sustainable, profitable growth.

We’re launching our second farm in January 2023 and will launch our first international farmer based in California in the same year. We’re aiming for an annual recurring revenue (ARR) of $1,414,870 by 2024 which will be generated from 7 farms and we expect to grow to a total of 19 farms operating in the 2025 year with a ARR of $2,662,410.

Our longer term plans are to grow to 500 farms and $50m ARR over the following years. This investment round will put us in a position to achieve these goals.

Thank you for being part of this journey. We look forward to reaching our dream of being the world leaders in sustainable and ethical dairy.

Glen Herud

Founder

 

The Problem

     

     

             

1.The system rewards the production of bad milk.

We think the current system encourages farmers to produce the highest amount of milk at the lowest possible cost. The result is farmers are incentivised to get more from the cows and more from the land while also trying to spend as little as possible. 

When a farmer chooses to make a change for good, such as reducing stock intensity or increase animal welfare costs. They are financially penalised for doing so. Currently, doing good means making less money.

 

2. Consumers don't get the chance to buy good milk.

 

The milk from good and bad farmers goes into the same tankers. Drinkers have no way of buying milk from just the good farmers.

It’s also really hard for customers to know if they are buying milk from great farmers. In our experience, even the fancy branded milk don’t really say what goes on behind the farm gate. 

Customers want the option to buy milk from just the good farmers and not subsidise poor farming practices.

3. It's really hard for farmers to sell good milk.

 

Good farmers would love to sell their milk to their local communities. They can make a lot more money.  But it’s actually really hard to do.

They have to become milk processors which means they have to become experts in food safety regulations and paperwork. They have to solve milk distribution problems, they have to become salespeople as well as learning how to market their milk too.

It’s often too hard, too expensive and too risky for a farmer to even try.

 

The Solution

A system that makes it easy for good farmers to sell good milk direct to good people.

 

We’ve built the technology, pioneered the model and proven the economics. Now we’re ready to take the idea to the world.

 

 

How Happy Cow Milk Works?

 

Happy Cow Milk Co is a hardware and software company with a SaaS and franchise system model.
Farmers pay a royalty for ongoing use of the technology, platform and brand.

Farmers purchase our equipment Farmers start selling milk Happy Cow Milk earns a royalty on milk sold

                           

 

 

Where we are today

 

World first tech

Paying farmer 

who is selling milk

Built out onboarding &
franchise system

Two farms ready to go

 

Raising to convert demand

 

Built the system

Onboarded customer Proven the model Generated pipeline Now raising to convert

 

We are generating a lot of interest from farmers around the world. Our plan is to turn these farmers into customers, generating $2.6m of annual revenue.

We have the technology, team, customers, and systems - all ready to go.

 

 

Our Plan- $50m annual revenue from 500 farmers

We can build a big business with a small number of farmers & small number of cows. 

 

 

 

Leadership to change dairy

 

Glen Herud
Founder
David Trought
CTO
Sam Webber
Software Engineer
Sarah Young
CFO

 

Why we are crowdfunding

Happy Cow Milk has always been supported by our passionate crowd.

 

People like you who were willing to invest in a belief that there is a better way. This is why, when it came time to fund Happy Cow Milk, we turned to the people who supported and believed in this idea from the beginning.

 

The first round of equity crowdfunding took place in November 2019 and sold out in just eight hours with many keen investors missing out.

 

Our crowd invested a further $566,000 in August 2021 and now we're coming back to the crowd for a third time to raise funds for the next phase - become profitable and start scaling.

 

We've got big plans for caring, kinder, fairer dairy and we can't do it alone.

 

Together, we're transforming a business into a movement!

 

 

 

Our share offer

 

We are offering up to 250,000 shares at $4.00 each. The minimum total amount required to be raised under this offer is $200,000 (50,000 shares).

 

Shares issued will be non-voting ordinary shares, ranking equally with all other existing non-voting ordinary shares and carrying the following rights:

  • The right to an equal share in dividends and other distributions made by Happy Herd Milk Company Limited (subject to the rights of any other class of share)
     
  • The right to an equal share in the distribution of surplus assets of Happy Herd Milk Company Limited. You can read more about the rights attached to shares in our Constitution.

 

 

 

 

Use of funds

 

If our minimum raise of $200K is achieved we intend to revert to a more conservative business plan.

 

This plan aims to enable us to reach profitability but we won’t have the resources to scale and continue R&D spending.

 

$1m will allow us to continue R&D development and grow the team to build the systems enabling us to grow.

 

We need to spend more on R&D to get our dispenser and app better suited to multiple customer types. The aim is to make it easier for customers to buy our milk and therefore easier for farmers to sell milk.

 

 

   

 

 

 

 

Risks

What if people don’t buy enough milk?

Happy Cow Milk traded for 3 years between 2014 to 2018. Demand for our milk was never an issue. We are currently receiving customer enquiries almost daily without any marketing effort. We have a waiting list of customers in different cities.

 

What if the technology doesn’t work?

Our plan is to start small, running the first system with our own in-house team. This helps us to work through any bugs or technical problems before we expand to include outside farms.

 

What if we can’t get farmers on board?

We’ve already got 130 farmers across the country who have signed up to our email updates and 14 who have expressed their interest in joining Happy Cow Milk and two farmers ready to join in 2023.

We aim to start our in-house farm in 2023, we expect to be able to demonstrate the ease and profitability of the system to bring more farmers onboard. Happy Cow Milk intends to find retailers and customers for farmers before they come onboard. This eases the difficulty and risk for coming on board.

 

What about trademark infringement?

There is another brand in the dairy category which has “Happy Cow” in their name, of which they have trademarked. For this reason, it is unlikely we will be able to trademark the Happy Cow Milk Company name.

 

We do have a trademark for our logo. The official name of our entity is Happy Herd Milk Company Ltd. In the event that a challenge was raised, we would revert to Happy Herd Milk Company Ltd.

 

What if someone else copies our idea?

We’ve taken steps to protect our “Milk Factory in a Box“ by filing a provisional patent. Ultimately, an idea is not as valuable as execution, so getting to market is the best protection for Happy Cow Milk. As we build relationships between individual farmers and consumers, this trust creates another layer of security for the company.

 

What if we run out of money?

Our conservative plan starts with a small raise now that enables us to launch our in-house farm. Our goal is for this farm to get us to break even. We intend to have two farms running, a working system with solid market validation will likely be an attractive investment for a wide range of investors.

 

 

 

A warning about crowdfunding

PledgeMe is licensed and regulated by the Financial Markets Authority, and the share offer made by Happy Cow Milk will only be available for acceptance through the PledgeMe website.

 

Equity crowdfunding is risky. Issuers using this facility include new or rapidly growing ventures. Investment in these types of business is very speculative and carries high risks. You may lose your entire investment, and must be in a position to bear this risk without undue hardship. New Zealand law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision.

 

The usual rules do not apply to offers by issuers using this facility. As a result, you may not be given all the information usually required. You will also have fewer other legal protections for this investment. Ask questions, read all information given carefully, and seek independent financial advice before committing yourself.

 

Warning statement for wholesale investors including those investing NZD $750,000 or more:

New Zealand law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision.

 

The usual rules do not apply to wholesale offers because there is an exclusion for offers made to wholesale investors (within the meaning of that term in the Financial Markets Conduct Act 2013), including where the amount invested upfront by the investor (plus any other investments the investor has already made in the financial products) is $750,000 or more.

 

Please ensure you have read and understood the Wholesale Investor warning statement provided by the Issuer in the Investment Memorandum.

 

 

 

A note from PledgeMe

We have completed checks on Happy Herd Milk Co. Ltd and its directors, as set out in our Disclosure Statement. These checks are limited in scope - for further information on what they cover, please see our Disclosure Statement. There were no adverse findings.

Updates 6

An update from PledgeMe - Happy Cow Milk

16/12/2022 at 1:16 PM

Kia ora koutou!

 

We are working to verify all new shareholders of Happy Herd Milk Co and collect funds.

 

We have completed approximately 98% of this work.

 

Thanks again, for supporting the things that Kiwis care about.

 

Ngā mihi,

 

The PledgeMe team

An update from PledgeMe - Happy Cow Milk

02/12/2022 at 8:29 AM

Kia ora koutou!

 

We are working to verify all new shareholders of Happy Cow Milk, and collect funds.

 

We have completed approximately 90% of this work.

 

Thanks again, for supporting the things that Kiwis care about.

 

Ngā mihi,

 

The PledgeMe team

Heading North - Opening outlets in Hamilton & Auckland

15/11/2022 at 10:12 PM

Hi All

Since we have hit our minimum target, Angelica and I are wasting no time. We are heading to the North Island to open new outlets in Hamilton and Auckland.

We'll be posting regularly to our social media channels and we will be adding a "where to buy" page to our website so it's easy for people to find their nearest Happy Cow Milk retailer.

Thank you all for your investment which is enabling this growth.

Cheers,

Glen

We've hit our minimum!

01/11/2022 at 1:13 PM

Over the weekend we reached our minimum goal of $200,000.

Thank you to all of you who have made a pledge and I appreciate all those who have invested for a second or third time.

It's very encouraging to me to read the comments you make when you pledge. Thank you all for your words of encouragement.

We're not waiting for the campaign to finish before we take action. We're full steam ahead with our plans.

We have a short window before the Christmas break and I plan to make the most of that time and hit the new year at full steam.

I'll be announcing some new outlets in the Auckland and Hamilton regions in the weeks to come.

Cheers

Glen

Warm welcome to the Happy Cow family :)

27/10/2022 at 2:35 PM

Hey everyone,

A quick message to say hello and a warm welcome to the Happy Cow family. I am so grateful to have all of you onboard!

We are all enjoying reading your kind messages, thank you. It inspires us to keep going 😊

The campaign has started with great success and at day two, we are so close to reach our goal of $200k and that’s fantastic.

Also, it’s been great to see so many existing shareholders investing again! Thank you for your ongoing support. At the end of the campaign, you will be able to see all your shares in the Orchestra shareholder management system. If you have not been setup in Orchestra, please email me.

On another note, I did an interview with Business Desk which was published yesterday. I talked about our third crowdfunding campaign and our plans to turn a kinder, fairer, greener dairy into a reality for New Zealand and the World!

In case you want to read it, this is the link of the article:

https://businessdesk.co.nz/article/primary-sector/happy-cow-milk-launches-third-round-to-pave-the-way-to-profitability.

If you have any questions, feel free to message me at [email protected]

Cheers,

Glen

Investment Memorandum Walkthrough Video

25/10/2022 at 8:51 AM

In this video, I walk through our investment Memorandum and explain in more detail how the Happy Cow Milk business model works.

I discuss the financial projections and how we plan to expand globally.

If you have any questions, feel free to post them here on the PledgeMe site or email me [email protected]

Thanks

Glen

    Details

    Offer Details

    Current Valuation 7,763,868
    Raise Minimum 200,000
    Raise Maximum 1,000,000
    Share Price 4.00
    Minimum Pledge 100.00
    Maximum Shares Offered 250,000
    Explanation of valuation:

    Our pre-raise valuation of $7,763,868.00 has been created with the help of our advisors. It is based on the Berkus method of valuation, which is commonly used by venture capitalists to create valuations for pre-revenue start-ups.

    Financial Summary

    Prev Year Current Year Est. FY 2026 Est. FY 2027
    Revenue NZ $24,505 NZ $231,264 NZ $2,371,870 NZ $4,576,410
    Operating Expenses NZ $325,700 NZ $705,150 NZ $2,620,765 NZ $4,068,765
    EBITDA NZ $ NZ $ NZ $ NZ $
    Net Profit -NZ $301,195 -NZ $473,886 -NZ $248,895 NZ $507,645

    Company Details

    Company Name: Happy Herd Milk Company Limited

    Company Number: 7038037

    Company Documents

    Documents no longer available to download, as this campaign has closed

    Director Details

    Name Role Profile URL Invested?
    Glen Herud Director, Founder https://www.linkedin.com/in/glen-herud-7abb192b/

    Questions 3


    Hi Glen.
    Why not just call the company Happy Herd now before the company grows bigger and not have the cost of a name change later?

    Posted on 29-10-2022 by Geoffrey Reed

    Hi Geoffrey
    Yes, good point. The important part is that our logo has been traded marked. The logo is the distinctive aspect of the brand. Whether we are called Happy Cow or Happy Herd is probably less important.
    I do plan to do a full brand review with a professional agency and this topic will be addressed.
    The other thing to consider is we are also co-branding with the farmers.

    There needs to be some thought into how we do this. I.e is the main brand Happy Cow Milk including XYZ farmer or is the XYZ farmer the main brand supported by Happy Cow Milk?
    We'll solve this problem once we are profitable.
    Cheers
    Glen

    Answered on 29-10-2022 by Glen Herud


    Any reason the previous campaign on pledgeme is no longer available to view? I can see the first one, however the second one goes to an error page.

    Posted on 26-10-2022 by Steve

    Hi Steve.
    It gave me an error message when I tried to access it via Chrome. I swapped browsers to Safari and it's displaying fine.
    Try a different browser.
    Cheers
    Glen

    Answered on 26-10-2022 by Glen Herud


    Sorry to have missed all the information sessions.
    Keen to continue to support your awesome mahi. Would like to know the valuation of shares has been done. Essentially, understandably $1 a share initially, on what basis is it now $4 when still building momentum and share values around the world are down 20% over past 9 months? What might a dividend payout look like in the future?
    Thanks and aroha mai again for the last minute question
    Andrew

    Posted on 25-10-2022 by Andrew Curtis

    Hi Andrew

    This is a good question and one many people wonder.

    I consider ourselves a global technology company that can scale our platform around the world easily.

    As I noted in the IM our initial (big) goal is 500 farmers and $50 million in revenue.

    As such I’ve used the valuation metrics that are common within the venture capital business.

    A good explanation of valuation and stage of business can be found at https://hillfarrance.com/resources/ Download the “startup fundraising checklist”.

    I feel Happy Cow Milk is roughly in between the "Angel" and "Seed stage" that is outlined in the above document.

    The other point I'll make is that it is becoming clear to many farmers around the world that they need to reduce their cow numbers to meet regulations but also increase revenue to stay viable.

    This is exactly what Happy Cow Milk offers to farmers. This is very good timing for us.

    Our projections show that we become quite a profitable business once we have 19 farmers using our system.

    At that stage, we will consider paying dividends.

    But it may be better to reinvest all the profits into further growth which will increase the share value. But we will likely survey our shareholders at that time and see what the majority would like to do.

    Cheers
    Glen

    Answered on 25-10-2022 by Glen Herud

    Pledgers 258

    Judith McConnell
    26/10/2022 at 12:51pm
    C Faithfull
    26/10/2022 at 12:00pm
    Carolyn
    26/10/2022 at 11:30am

    "I’ve already pledged in the past. I’m hoping this will be added to the amount and I will be able to see where it’s sitting. Hopefully via e mail from you. I can’t find my original purchase details. Thanks. "

    Georgia Gilchrist
    26/10/2022 at 11:20am
    Nadine Martin
    26/10/2022 at 11:20am
    Sue Manby-Clarke
    26/10/2022 at 11:13am
    Andrew W Tompkin
    26/10/2022 at 11:08am
    Pip
    26/10/2022 at 10:54am
    Denis McDonald
    26/10/2022 at 10:50am

    "Hi Glen I reckon Fruit World Richmond Road Ponsonby would be a good site for a Milk Dispenser https://www.google.com/search?client=firefox-b-d&q=fruit+world+richmond+road or Farro Fresh https://www.google.com/search?client=firefox-b-d&q=farro+fresh+westmoreland+ponsonby cheers Denis"

    Gerhard
    26/10/2022 at 10:38am
    Gillian Storry
    26/10/2022 at 10:30am
    Dave Evans
    26/10/2022 at 10:29am

    "Go you good thing!!!"

    Leigh Coleman
    26/10/2022 at 9:47am
    Denise O'Malley
    26/10/2022 at 9:43am
    Phil Holland
    26/10/2022 at 9:36am
    Sam
    26/10/2022 at 9:26am
    Geoffrey Khoo
    26/10/2022 at 9:26am
    Trevor Best
    26/10/2022 at 9:15am
    Kathy Hughes
    26/10/2022 at 9:01am

    "Great Work Glen & Team"

    Claire McGowan
    26/10/2022 at 8:18am
    Marilyn Mrkusich
    26/10/2022 at 8:07am
    Geoffrey Reed
    26/10/2022 at 6:22am

    "Look forward to being a part of this amazing enterprise."

    Sally Raine
    26/10/2022 at 5:46am
    Perri
    26/10/2022 at 5:35am
    Bryan
    26/10/2022 at 4:56am

    "Wishing the team all the best! Please bring Happy Cow Milk to Singapore!"

    Georgina Preston
    26/10/2022 at 3:07am
    Philip Brock
    26/10/2022 at 2:27am
    Moray Guise
    26/10/2022 at 12:31am
    Jeremy Minton
    25/10/2022 at 11:45pm
    Tanja Woodmass
    25/10/2022 at 11:36pm

    Followers 35

    T/A Happy Cow Milk Co

     

    Caring, Kinder, Fairer Dairy

    With our community's support, we’ve created our “Milk Factory in a Box”. A low-cost milk processing system that enables “non-experts” to pasteurise milk safely and efficiently.

    It’s now easier for the good dairy farmers of the world to provide fresh local milk to customers who want to support more caring, kinder and greener dairy practices.

    We’ve proven better dairy is also better business. Farmers who sell direct to customers can earn twice as much for their milk. With less than $1m of seed funding, we’ve made the world’s first milk factory and business in a box. We’ve installed it onto our first farmer’s property and we are generating revenue.

    We believe we’re now on the path to sustainable, profitable growth.

    We’re launching our second farm in January 2023 and will launch our first international farmer based in California in the same year. We’re aiming for an annual recurring revenue (ARR) of $1,414,870 by 2024 which will be generated from 7 farms and we expect to grow to a total of 19 farms operating in the 2025 year with a ARR of $2,662,410.

    Our longer term plans are to grow to 500 farms and $50m ARR over the following years. This investment round will put us in a position to achieve these goals.

    Thank you for being part of this journey. We look forward to reaching our dream of being the world leaders in sustainable and ethical dairy.

    Glen Herud

    Founder

     

    The Problem

         

         

                 

    1.The system rewards the production of bad milk.

    We think the current system encourages farmers to produce the highest amount of milk at the lowest possible cost. The result is farmers are incentivised to get more from the cows and more from the land while also trying to spend as little as possible. 

    When a farmer chooses to make a change for good, such as reducing stock intensity or increase animal welfare costs. They are financially penalised for doing so. Currently, doing good means making less money.

     

    2. Consumers don't get the chance to buy good milk.

     

    The milk from good and bad farmers goes into the same tankers. Drinkers have no way of buying milk from just the good farmers.

    It’s also really hard for customers to know if they are buying milk from great farmers. In our experience, even the fancy branded milk don’t really say what goes on behind the farm gate. 

    Customers want the option to buy milk from just the good farmers and not subsidise poor farming practices.

    3. It's really hard for farmers to sell good milk.

     

    Good farmers would love to sell their milk to their local communities. They can make a lot more money.  But it’s actually really hard to do.

    They have to become milk processors which means they have to become experts in food safety regulations and paperwork. They have to solve milk distribution problems, they have to become salespeople as well as learning how to market their milk too.

    It’s often too hard, too expensive and too risky for a farmer to even try.

     

    The Solution

    A system that makes it easy for good farmers to sell good milk direct to good people.

     

    We’ve built the technology, pioneered the model and proven the economics. Now we’re ready to take the idea to the world.

     

     

    How Happy Cow Milk Works?

     

    Happy Cow Milk Co is a hardware and software company with a SaaS and franchise system model.
    Farmers pay a royalty for ongoing use of the technology, platform and brand.

    Farmers purchase our equipment Farmers start selling milk Happy Cow Milk earns a royalty on milk sold

                               

     

     

    Where we are today

     

    World first tech

    Paying farmer 

    who is selling milk

    Built out onboarding &
    franchise system

    Two farms ready to go

     

    Raising to convert demand

     

    Built the system

    Onboarded customer Proven the model Generated pipeline Now raising to convert

     

    We are generating a lot of interest from farmers around the world. Our plan is to turn these farmers into customers, generating $2.6m of annual revenue.

    We have the technology, team, customers, and systems - all ready to go.

     

     

    Our Plan- $50m annual revenue from 500 farmers

    We can build a big business with a small number of farmers & small number of cows. 

     

     

     

    Leadership to change dairy

     

    Glen Herud
    Founder
    David Trought
    CTO
    Sam Webber
    Software Engineer
    Sarah Young
    CFO

     

    Why we are crowdfunding

    Happy Cow Milk has always been supported by our passionate crowd.

     

    People like you who were willing to invest in a belief that there is a better way. This is why, when it came time to fund Happy Cow Milk, we turned to the people who supported and believed in this idea from the beginning.

     

    The first round of equity crowdfunding took place in November 2019 and sold out in just eight hours with many keen investors missing out.

     

    Our crowd invested a further $566,000 in August 2021 and now we're coming back to the crowd for a third time to raise funds for the next phase - become profitable and start scaling.

     

    We've got big plans for caring, kinder, fairer dairy and we can't do it alone.

     

    Together, we're transforming a business into a movement!

     

     

     

    Our share offer

     

    We are offering up to 250,000 shares at $4.00 each. The minimum total amount required to be raised under this offer is $200,000 (50,000 shares).

     

    Shares issued will be non-voting ordinary shares, ranking equally with all other existing non-voting ordinary shares and carrying the following rights:

    • The right to an equal share in dividends and other distributions made by Happy Herd Milk Company Limited (subject to the rights of any other class of share)
       
    • The right to an equal share in the distribution of surplus assets of Happy Herd Milk Company Limited. You can read more about the rights attached to shares in our Constitution.

     

     

     

     

    Use of funds

     

    If our minimum raise of $200K is achieved we intend to revert to a more conservative business plan.

     

    This plan aims to enable us to reach profitability but we won’t have the resources to scale and continue R&D spending.

     

    $1m will allow us to continue R&D development and grow the team to build the systems enabling us to grow.

     

    We need to spend more on R&D to get our dispenser and app better suited to multiple customer types. The aim is to make it easier for customers to buy our milk and therefore easier for farmers to sell milk.

     

     

       

     

     

     

     

    Risks

    What if people don’t buy enough milk?

    Happy Cow Milk traded for 3 years between 2014 to 2018. Demand for our milk was never an issue. We are currently receiving customer enquiries almost daily without any marketing effort. We have a waiting list of customers in different cities.

     

    What if the technology doesn’t work?

    Our plan is to start small, running the first system with our own in-house team. This helps us to work through any bugs or technical problems before we expand to include outside farms.

     

    What if we can’t get farmers on board?

    We’ve already got 130 farmers across the country who have signed up to our email updates and 14 who have expressed their interest in joining Happy Cow Milk and two farmers ready to join in 2023.

    We aim to start our in-house farm in 2023, we expect to be able to demonstrate the ease and profitability of the system to bring more farmers onboard. Happy Cow Milk intends to find retailers and customers for farmers before they come onboard. This eases the difficulty and risk for coming on board.

     

    What about trademark infringement?

    There is another brand in the dairy category which has “Happy Cow” in their name, of which they have trademarked. For this reason, it is unlikely we will be able to trademark the Happy Cow Milk Company name.

     

    We do have a trademark for our logo. The official name of our entity is Happy Herd Milk Company Ltd. In the event that a challenge was raised, we would revert to Happy Herd Milk Company Ltd.

     

    What if someone else copies our idea?

    We’ve taken steps to protect our “Milk Factory in a Box“ by filing a provisional patent. Ultimately, an idea is not as valuable as execution, so getting to market is the best protection for Happy Cow Milk. As we build relationships between individual farmers and consumers, this trust creates another layer of security for the company.

     

    What if we run out of money?

    Our conservative plan starts with a small raise now that enables us to launch our in-house farm. Our goal is for this farm to get us to break even. We intend to have two farms running, a working system with solid market validation will likely be an attractive investment for a wide range of investors.

     

     

     

    A warning about crowdfunding

    PledgeMe is licensed and regulated by the Financial Markets Authority, and the share offer made by Happy Cow Milk will only be available for acceptance through the PledgeMe website.

     

    Equity crowdfunding is risky. Issuers using this facility include new or rapidly growing ventures. Investment in these types of business is very speculative and carries high risks. You may lose your entire investment, and must be in a position to bear this risk without undue hardship. New Zealand law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision.

     

    The usual rules do not apply to offers by issuers using this facility. As a result, you may not be given all the information usually required. You will also have fewer other legal protections for this investment. Ask questions, read all information given carefully, and seek independent financial advice before committing yourself.

     

    Warning statement for wholesale investors including those investing NZD $750,000 or more:

    New Zealand law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision.

     

    The usual rules do not apply to wholesale offers because there is an exclusion for offers made to wholesale investors (within the meaning of that term in the Financial Markets Conduct Act 2013), including where the amount invested upfront by the investor (plus any other investments the investor has already made in the financial products) is $750,000 or more.

     

    Please ensure you have read and understood the Wholesale Investor warning statement provided by the Issuer in the Investment Memorandum.

     

     

     

    A note from PledgeMe

    We have completed checks on Happy Herd Milk Co. Ltd and its directors, as set out in our Disclosure Statement. These checks are limited in scope - for further information on what they cover, please see our Disclosure Statement. There were no adverse findings.

    An update from PledgeMe - Happy Cow Milk

    16/12/2022 at 1:16 PM

    Kia ora koutou!

     

    We are working to verify all new shareholders of Happy Herd Milk Co and collect funds.

     

    We have completed approximately 98% of this work.

     

    Thanks again, for supporting the things that Kiwis care about.

     

    Ngā mihi,

     

    The PledgeMe team

    An update from PledgeMe - Happy Cow Milk

    02/12/2022 at 8:29 AM

    Kia ora koutou!

     

    We are working to verify all new shareholders of Happy Cow Milk, and collect funds.

     

    We have completed approximately 90% of this work.

     

    Thanks again, for supporting the things that Kiwis care about.

     

    Ngā mihi,

     

    The PledgeMe team

    Heading North - Opening outlets in Hamilton & Auckland

    15/11/2022 at 10:12 PM

    Hi All

    Since we have hit our minimum target, Angelica and I are wasting no time. We are heading to the North Island to open new outlets in Hamilton and Auckland.

    We'll be posting regularly to our social media channels and we will be adding a "where to buy" page to our website so it's easy for people to find their nearest Happy Cow Milk retailer.

    Thank you all for your investment which is enabling this growth.

    Cheers,

    Glen

    We've hit our minimum!

    01/11/2022 at 1:13 PM

    Over the weekend we reached our minimum goal of $200,000.

    Thank you to all of you who have made a pledge and I appreciate all those who have invested for a second or third time.

    It's very encouraging to me to read the comments you make when you pledge. Thank you all for your words of encouragement.

    We're not waiting for the campaign to finish before we take action. We're full steam ahead with our plans.

    We have a short window before the Christmas break and I plan to make the most of that time and hit the new year at full steam.

    I'll be announcing some new outlets in the Auckland and Hamilton regions in the weeks to come.

    Cheers

    Glen

    Warm welcome to the Happy Cow family :)

    27/10/2022 at 2:35 PM

    Hey everyone,

    A quick message to say hello and a warm welcome to the Happy Cow family. I am so grateful to have all of you onboard!

    We are all enjoying reading your kind messages, thank you. It inspires us to keep going 😊

    The campaign has started with great success and at day two, we are so close to reach our goal of $200k and that’s fantastic.

    Also, it’s been great to see so many existing shareholders investing again! Thank you for your ongoing support. At the end of the campaign, you will be able to see all your shares in the Orchestra shareholder management system. If you have not been setup in Orchestra, please email me.

    On another note, I did an interview with Business Desk which was published yesterday. I talked about our third crowdfunding campaign and our plans to turn a kinder, fairer, greener dairy into a reality for New Zealand and the World!

    In case you want to read it, this is the link of the article:

    https://businessdesk.co.nz/article/primary-sector/happy-cow-milk-launches-third-round-to-pave-the-way-to-profitability.

    If you have any questions, feel free to message me at [email protected]

    Cheers,

    Glen

    Investment Memorandum Walkthrough Video

    25/10/2022 at 8:51 AM

    In this video, I walk through our investment Memorandum and explain in more detail how the Happy Cow Milk business model works.

    I discuss the financial projections and how we plan to expand globally.

    If you have any questions, feel free to post them here on the PledgeMe site or email me [email protected]

    Thanks

    Glen

      Offer Details

      Current Valuation 7,763,868
      Raise Minimum 200,000
      Raise Maximum 1,000,000
      Share Price 4.00
      Minimum Pledge 100.00
      Maximum Shares Offered 250,000
      Explanation of valuation:

      Our pre-raise valuation of $7,763,868.00 has been created with the help of our advisors. It is based on the Berkus method of valuation, which is commonly used by venture capitalists to create valuations for pre-revenue start-ups.

      Financial Summary

      Prev Year Current Year Est. FY 2026 Est. FY 2027
      Revenue NZ $24,505 NZ $231,264 NZ $2,371,870 NZ $4,576,410
      Operating Expenses NZ $325,700 NZ $705,150 NZ $2,620,765 NZ $4,068,765
      EBITDA NZ $ NZ $ NZ $ NZ $
      Net Profit -NZ $301,195 -NZ $473,886 -NZ $248,895 NZ $507,645

      Company Details

      Company Name: Happy Herd Milk Company Limited

      Company Number: 7038037

      Company Documents

      Documents no longer available to download, as this campaign has closed

      Director Details

      Name Role Profile URL Invested?
      Glen Herud Director, Founder https://www.linkedin.com/in/glen-herud-7abb192b/

      Hi Glen.
      Why not just call the company Happy Herd now before the company grows bigger and not have the cost of a name change later?

      Posted on 29-10-2022 by Geoffrey Reed

      Hi Geoffrey
      Yes, good point. The important part is that our logo has been traded marked. The logo is the distinctive aspect of the brand. Whether we are called Happy Cow or Happy Herd is probably less important.
      I do plan to do a full brand review with a professional agency and this topic will be addressed.
      The other thing to consider is we are also co-branding with the farmers.

      There needs to be some thought into how we do this. I.e is the main brand Happy Cow Milk including XYZ farmer or is the XYZ farmer the main brand supported by Happy Cow Milk?
      We'll solve this problem once we are profitable.
      Cheers
      Glen

      Answered on 29-10-2022 by Glen Herud


      Any reason the previous campaign on pledgeme is no longer available to view? I can see the first one, however the second one goes to an error page.

      Posted on 26-10-2022 by Steve

      Hi Steve.
      It gave me an error message when I tried to access it via Chrome. I swapped browsers to Safari and it's displaying fine.
      Try a different browser.
      Cheers
      Glen

      Answered on 26-10-2022 by Glen Herud


      Sorry to have missed all the information sessions.
      Keen to continue to support your awesome mahi. Would like to know the valuation of shares has been done. Essentially, understandably $1 a share initially, on what basis is it now $4 when still building momentum and share values around the world are down 20% over past 9 months? What might a dividend payout look like in the future?
      Thanks and aroha mai again for the last minute question
      Andrew

      Posted on 25-10-2022 by Andrew Curtis

      Hi Andrew

      This is a good question and one many people wonder.

      I consider ourselves a global technology company that can scale our platform around the world easily.

      As I noted in the IM our initial (big) goal is 500 farmers and $50 million in revenue.

      As such I’ve used the valuation metrics that are common within the venture capital business.

      A good explanation of valuation and stage of business can be found at https://hillfarrance.com/resources/ Download the “startup fundraising checklist”.

      I feel Happy Cow Milk is roughly in between the "Angel" and "Seed stage" that is outlined in the above document.

      The other point I'll make is that it is becoming clear to many farmers around the world that they need to reduce their cow numbers to meet regulations but also increase revenue to stay viable.

      This is exactly what Happy Cow Milk offers to farmers. This is very good timing for us.

      Our projections show that we become quite a profitable business once we have 19 farmers using our system.

      At that stage, we will consider paying dividends.

      But it may be better to reinvest all the profits into further growth which will increase the share value. But we will likely survey our shareholders at that time and see what the majority would like to do.

      Cheers
      Glen

      Answered on 25-10-2022 by Glen Herud

      Judith McConnell
      26/10/2022 at 12:51pm
      C Faithfull
      26/10/2022 at 12:00pm
      Carolyn
      26/10/2022 at 11:30am

      "I’ve already pledged in the past. I’m hoping this will be added to the amount and I will be able to see where it’s sitting. Hopefully via e mail from you. I can’t find my original purchase details. Thanks. "

      Georgia Gilchrist
      26/10/2022 at 11:20am
      Nadine Martin
      26/10/2022 at 11:20am
      Sue Manby-Clarke
      26/10/2022 at 11:13am
      Andrew W Tompkin
      26/10/2022 at 11:08am
      Pip
      26/10/2022 at 10:54am
      Denis McDonald
      26/10/2022 at 10:50am

      "Hi Glen I reckon Fruit World Richmond Road Ponsonby would be a good site for a Milk Dispenser https://www.google.com/search?client=firefox-b-d&q=fruit+world+richmond+road or Farro Fresh https://www.google.com/search?client=firefox-b-d&q=farro+fresh+westmoreland+ponsonby cheers Denis"

      Gerhard
      26/10/2022 at 10:38am
      Gillian Storry
      26/10/2022 at 10:30am
      Dave Evans
      26/10/2022 at 10:29am

      "Go you good thing!!!"

      Leigh Coleman
      26/10/2022 at 9:47am
      Denise O'Malley
      26/10/2022 at 9:43am
      Phil Holland
      26/10/2022 at 9:36am
      Sam
      26/10/2022 at 9:26am
      Geoffrey Khoo
      26/10/2022 at 9:26am
      Trevor Best
      26/10/2022 at 9:15am
      Kathy Hughes
      26/10/2022 at 9:01am

      "Great Work Glen & Team"

      Claire McGowan
      26/10/2022 at 8:18am
      Marilyn Mrkusich
      26/10/2022 at 8:07am
      Geoffrey Reed
      26/10/2022 at 6:22am

      "Look forward to being a part of this amazing enterprise."

      Sally Raine
      26/10/2022 at 5:46am
      Perri
      26/10/2022 at 5:35am
      Bryan
      26/10/2022 at 4:56am

      "Wishing the team all the best! Please bring Happy Cow Milk to Singapore!"

      Georgina Preston
      26/10/2022 at 3:07am
      Philip Brock
      26/10/2022 at 2:27am
      Moray Guise
      26/10/2022 at 12:31am
      Jeremy Minton
      25/10/2022 at 11:45pm
      Tanja Woodmass
      25/10/2022 at 11:36pm
      This campaign was successful and got its funding on 27/11/2022 at 7:00 PM.

      This campaign has closed, but this company may choose to do more equity raises on PledgeMe in the future. If you're interested in investing in T/A Happy Cow Milk Co, you can sign up to be notified when a new equity campaign from this company is published.

      Notify Me

      Investor Perks

      Shares In Happy Herd Milk Co.

      NZ $100.00+

      Non-voting shares in Happy Herd Milk Co. trading as Happy Cow Milk Co.

      Warning statement about equity crowdfunding

      Equity crowdfunding is risky.

      Issuers using this facility include new or rapidly growing ventures. Investment in these types of business is very speculative and carries high risks.

      You may lose your entire investment, and must be in a position to bear this risk without undue hardship.

      New Zealand law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision.

      The usual rules do not apply to offers by issuers using this facility. As a result, you may not be given all the information usually required. You will also have fewer other legal protections for this investment.

      Ask questions, read all information given carefully, and seek independent financial advice before committing yourself.