First Crop

First Crop

Closed: Sep. 2021

About this raise

First Crop, with a pre-money valuation of $13.44 million, is raising funds on MicroVentures. The company makes and sells its branded CBD-based products in the consumer health and wellness space. It also offers CBD oil extraction and hemp processing services for a fee. David Weir, Jane Pinto, and David Armstrong founded First Crop in March 2019. The proceeds of the current crowdfunding campaign, with a minimum goal of $50,000 and a maximum goal of $1,070,000, will be used towards marketing, R&D, manufacturing, and general & administrative expenses. First Crop reported a 508% growth in monthly net revenue from September 2020 to February 2021. The company brought 24 new products to the market in the third and fourth quarters of 2020.

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Investment Overview

Invested this round: $176,142

Deal Terms

Total Commitments

Platform
Microventures
Start Date
04/13/2021
Close Date
09/13/2021
Min. Goal
$50,000
Max Goal
$1,070,000
Min. Investment

$100

Security Type

Equity - Preferred

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.00

Early Bird Valuation

$10,755,456

Pre-Money Valuation

$13,444,320

Company & Team

Company

Year Founded
2019
Industry
Healthcare & Pharmaceuticals
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
High
Location
Santa Fe, New Mexico
Business Type
Growth
Company Website
Visit Website

Team

Employees
7
Prior Founder Exits?
No
Founder Name
Jane Pinto
Title
Founder
Founder Name
David Weir
Title
CEO

Financials

 Revenue
$331,362
 Monthly Burn
$122,719
 Runway
2.6 months

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$331,362

$0

COGS

$341,320

$0

Tax

$0

$0

 

 

Net Income

$-1,472,629

$-1,549,170

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$323,401

$199,692

Accounts Receivable

$10,877

$0

Total Assets

$2,587,352

$1,925,609

Short-Term Debt

$394,908

$4,108

Long-Term Debt

$551,127

$647,459

Total Liabilities

$946,035

$651,567

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
09/13/2021 Microventures $13,444,320 $176,142 Equity - Preferred Funded RegCF
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Add to portfolio
First Crop on MicroVentures
Platform: Microventures
Security Type: Equity - Preferred
Valuation: $13,444,320
Price per Share: $1.00

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

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