Overview

Raised to Date: Raised: $64,261

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

Total Commitments ($USD)

Platform

Republic

Start Date

07/11/2022

Close Date

12/29/2022

Min. Goal

$25,000

Max. Goal

$400,000

Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    

Valuation Cap

$6,000,000

Discount

15%

Venture Capital Investors:

Consumer Ventures

BeyondBrands

World Finer Foods

Rolling Commitments ($USD)

Status

Funded

Reporting Date

12/31/2022

Days Remaining

Funded

% of Min. Goal

Funded

% of Max. Goal

Funded

Likelihood of Max

Funded

Avg. Daily Raise

$378

# of Investors

156

Momentum

Funded

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Cool Beans

Year Founded

2018

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2B

Margin

Low

Capital Intensity

Low

Location

Lake Forest, Illinois

Business Type

Growth

Company Website

Cool Beans, with a valuation of $6 million, is raising funds on Republic. The company sells minimally-processed beans in the form of snacks. The offerings of Cool Beans include a line of frozen plant-based wraps that bring whole foods into the diet easily. The Cool Beans wraps are loaded with 27 plant-based ingredients with appealing flavors and gut health. Cool Beans is available at over 5,000 PODs, 1,500 stores, and 16 distribution centers and expects to generate $1.2 million in revenue in 2022. Tyler Mayoras, Mike Brennan, Caryn Rowe Africk, and Eric Schnell founded Cool Beans in May 2018. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $400,000. The campaign proceeds will be used for growth and expansion.

Summary Profit and Loss Statement

	Most Recent Year	Prior Year
Revenue	$85,416	$327,080
COGS	$290,500	$345,988
Tax	$0	$0
Net Income	$-1,024,160	$-560,389

Summary Balance Sheet

	Most Recent Year	Prior Year
Cash	$72,342	$580,668
Accounts Receivable	$0	$56,155
Total Assets	$134,827	$702,512
Short-Term Debt	$1,776,003	$1,619,705
Long-Term Debt	$375,473	$83,100
Total Liabilities	$2,151,476	$1,702,805

Financials as of: 07/11/2022

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Cool Beans lets customers enjoy plant-based frozen burritos at home. Although trends are in its favor, the company faces stiff competition.

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Cool Beans Founder Tyler Mayoras Brings VC Knowledge to Plant-Based Food

Walking through the aisles of your local grocery store you are likely to find countless options for quick, handheld, easy-to-make meals. You may not, however, find many options that are made from plant-based whole food ingredients. A growing number of consumers are seeking out plant-based meals, but they still want the convenience of easy-to-prepare frozen foods.

Cool Beans is answering this need with its vegan, gluten-free wraps. The company’s wraps are made primarily from beans while featuring globally-inspired flavors. We reached out to co-founder and co-CEO Tyler Mayoras to learn more about his team, competition, and future goals.

Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.

Read Founder Interview