Cool Beans

Cool Beans

Early Stage

Plant-based goodness from whole food ingredients—great for people & the planet

Plant-based goodness from whole food ingredients—great for people & the planet

Overview

Raised to Date: Raised: $64,261

Total Commitments ($USD)

Platform

Republic

Start Date

07/11/2022

Close Date

12/28/2022

Min. Goal
$25,000
Max. Goal
$400,000
Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$6,000,000

Discount

15%

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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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

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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Analyst Report Analyst Report Methodology Article

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

Founder Profile

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

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Cool Beans on Republic 2022
Platform: Republic
Security Type: SAFE
Valuation: $6,000,000

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Follow Cool Beans on Republic 2022

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Warning: according to the close date for this deal, Cool Beans may no longer be accepting investments.

Cool Beans Deal Report

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