23 May 2019 @ 12:00AM
OnMarket has successfully completed the Solar D equity crowdfunding campaign raising $577,000. Solar D is a company that licences Vitamin D promoting SPF technology. 268 investors became shareholders of Solar D as the minimum subscription was reached with 5 days to go. This was thanks to a significant $292,000 invested in the last week of the offer.
The power of the crowd and OnMarket’s database was highlighted by the number of bids that came in under $1,000. Over half the bids (151) funded were under $1,000, making up a total of $87,000 worth of equity.
Solar D is the first to market with a new technology that aims to tackle the global issue of Vitamin D deficiency. Many traditional sunscreens inhibit Vitamin D production by screening out the UVB light that our bodies use to naturally produce 90% of our Vitamin D requirements. Solar D has the solution to this problem with the world’s first and patented Vitamin D promoting SPF technology.
Solar D has developed the technology that allows some of the good UVB light into our bodies, aimed at reducing the 1 billion people worldwide affected by Vitamin D deficiency. Even in Australia, approximately one third of people are considered Vitamin D deficient. Vitamin D deficiency has been linked to various diseases including osteoporosis, increased risk of cancer, bone and muscular diseases, heart disease and even mental health conditions such as depression.
Already stocked in over 3,000 outlets, including leading pharmacy, chemist and grocery chains such as Amcal, Terry White, Chemist Warehouse and Woolworths, Solar D is now looking to expand its operations globally through white label licencing opportunities.
Solar D entered their equity crowdfunding campaign on the back of signing their first private white label licencing agreement, securing a deal with Spain’s largest pharmaceutical company, Almirall. This will see 100,000 units of sunscreen containing the Solar D technology shipped throughout Spain and Italy for the European summer. The development of private licencing and white label agreements was further built upon during the offer period as Solar D signed a Memorandum of Understanding (MOU) with the Philippines’ largest pharmaceutical company, Unilab – an agreement that is seen as a gateway to the lucrative Chinese market.
Solar D will utilise the funds for working capital to ultimately finalise the purchase of the IP for the Vitamin D promoting technology. The additional working capital will also allow Solar D to continue to pursue private white label licensing agreements, globally. The Solar D technology can be utilised in any product containing an SPF making it viable for sunscreens, moisturisers and other cosmetics, opening the doors to the $500 billion skin care industry.
They are currently in discussion with several cosmetic and pharmaceutical companies for additional private white label licencing opportunities in Australia, Korea and Brazil.