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Article: Inside Montu, the Aussie medicinal cannabis company that broke a crowdfunding record by raising $1 million in 36 hours

Business Insider Australia write…

  • Australian medicinal cannabis company Montu broke two crowdfunding records.
  • Montu reached $300,000 in 59 minutes and gained $1 million in just 36 hours through equity crowdfunding company Birchal.
  • The funding will be used to ramp up the company’s expansion in Australia and New Zealand.

Melbourne-based company Montu makes medical cannabis accessible to patients through a nationwide network of doctors.

“Over the last couple of months we’ve built across the country a network of doctors that are familiar with medical cannabis and are competent prescribers, and now have the capacity to serve over half a million patients across the country,” Montu Managing Director Christopher Strauch told Business Insider Australia.

Montu’s network includes healthcare providers MyHealth, IPN, MyClinic and Ochre Health.

Founded in 2019, the company collaborates with extraction companies and cultivators who formulate the products on Montu’s behalf.

Strauch explained that Montu gives doctors the information and tools they need to be comfortable prescribing cannabis. It then walks them through its selection of products based on which conditions they are used for and from there, the doctors can prescribe it.

Montu has a warehouse near Sydney where it stores its products, which are th

Source: https://www.businessinsider.com.au/medicinal-cannabis-company-montu-broke-a-crowdfunding-record-2020-10

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