PhycoHealth raises A$2.4 million from over 1,000 investors on OnMarket

Australian seaweed biotechnology company PhycoHealth has raised A$2.4 million from more than 1,000 investors in an equity crowdfunding campaign hosted on OnMarket, with no cornerstone investor. Startup Researcher reported the raise, which is being undertaken by parent company Phyco Life. Founder Dr. Pia Winberg is seeking community investment to support the company's next phase of growth.

PhycoHealth's Crowd-Funded Campaign on OnMarket

The campaign has drawn more than 4,500 expressions of interest worth an estimated A$12.4 million. During an initial private investment phase, the raise reached just under A$2 million from more than 800 investors. If the campaign surpasses A$2.9 million, it will become Australia's largest crowd-equity raise of the year.

Winberg said the company has believed a business can be commercially successful without losing sight of its purpose, and its funding approach has been driven by the crowd rather than anchored by a major investor. The investor base now extends into academia, with some researchers, including research students and eminent professors, holding shares. Winberg said a number of universities are involved in the company's research.

In the year to June 2026, PhycoHealth reported A$8.85 million of revenue, a 5.8 times increase on the prior year, across nearly 93,000 orders from more than 56,000 new customers. Gross profit shifted from a loss of A$277,152 to a positive A$4.21 million, a 47.6% margin. The company noted that it lost money on every product sold the previous year but did not do so in the latest period.

Founded in 2014 in Huskisson by marine scientist Dr. Pia Winberg, PhycoHealth cultivates and manufactures seaweed-based products for human health. It develops, clinically tests, and sells functional foods, nutritional supplements, and skincare products made from a sustainably farmed species of Australian green seaweed, designed to address trace element deficiencies, improve gut health, and reduce chronic inflammation. The company draws on more than 20 years of Winberg's clinical research into Australian seaweed.

The latest raise follows a strong financial year and a A$2 million government grant to expand processing facilities. In July last year, PhycoHealth raised more than A$1.85 million from 790 investors on OnMarket to fund new farm sites, processing, refining, and research and development. The company plans to combine crowd capital with government support to accelerate the next stage of Australian seaweed production, with products built around Phyaluronic, a sulfated seaweed glycan from farmed Australian seaweed.

OnMarket has hosted other completed raises, including a $1.4 million crowd-sourced funding campaign for ready-to-drink cocktail company Curatif, supported by 613 investors, Food & Drink Business reported.

PhycoHealth's Plans for Processing and Farm Sites

PhycoHealth plans to use the funds to expand processing and farm sites. The company intends to combine crowd capital with government support to accelerate the next stage of Australian seaweed production.