By: Staff Writer
November 2, 2021
The Bahamian crowd-funding platform ArawakX listed another company on its exchange, this time a US Federal and Drug Administration (FDA) certified food processor looking to export and expand throughout the Caribbean.
Grow Bahamas Limited launched on the ArawakX crowd-funding platform with aims to raise $1.8m in capital in the next 9 days to facilitate building out their agro-processing plant for people in the agricultural business from growers to food retailers to exporters in agricultural products all the way down to chefs.
Regina Smith, chief executive officer and co-founder of Grow, said that while her and her partner are both agro-processors in their own right, they decided to come together to create Grow Bahamas to “allow food entrepreneurs and culinary professionals a chance to come to a safe space where they can now produce their consumables in a commercial space that allows for export and also safer consumption.”
Grow Bahamas Ltd is FDA certified and gets most of its produce locally particularly from farmers that have “challenges with food wastage,” said Ms Ward. She added: “We intend to go throughout The Bahamas to some of the main producing islands and then eventually throughout the Caribbean.”
Ms Smith added: “We are definitely looking at exploring partnerships with other companies as well as other countries to allow for that easier export and the ability to do business globally.”
Grow Bahamas is looking to raise $1.8m through ArawakX. The shares are selling at $16 per share and will close within the next 90 days.
Grow provides the first and only FDA certified commercial kitchen in The Bahamas. Now for the first time, farmers, chefs and producers can manufacture, process, and prepare on a commercial scale for distribution and export.
Kentisha Ward, co-founder of Grow, added that while it has not been easy in the food processing business she finally feels that her and her partner have found a solution to expand their business through the ArawakX platform.
Ms Ward also said about the Grow Lab facility that it will be the “first of its kind in this region and also addresses the core needs of food security and sustainability. We are thankful to a partner with international universities and agencies and look forward to extending our network to include additional local and regional supporters.”
She added: “It is now more important than ever, to invest in food sustainability and security. Grow is the future of food in The Bahamas. Our vision is one that includes sustainability, food security, employment, business development, and access to entrepreneurial opportunities, especially for young Bahamians.
D’Arcy Rahming Sr, chief executive officer of ArawakX, said that he is thrilled to have Grow Bahamas Ltd listed on the platform and he expects lots more companies like them to come down the pike in the near future.
ArawakX is for anyone in the Caribbean to invest in companies through its crowd-funding platform. A one of a kind revolution in Small and Medium Sized Enterprise financing.