Dunedin's chocolate company crowd funding hits $2m pledge

There's sweet news for a Dunedin craft chocolate company with a crowd-funding campaign hitting its first target.

More than 3500 people have pledged to buy shares in OCHO collectively investing the $2m within 48 hours which is the maximum that can be raised via crowd-funding in a year.

OCHO plans to go to institutional investors for additional funding.  Funds raised will go towards setting up a new chocolate factory on Dunedin's waterfront, buying in equipment from Italy, and expanding production.

The business will manufacture premium craft chocolate for the local market, along with exporting product into Asia with an initial focus on China and Japan.

The company plans to set up a new chocolate factory on Dunedin's Steamer Basin early next year.

Newshub.