FYR
About this raise
FYR, with a valuation of $10 million, is raising funds on Wefunder. It is a live fire cooking brand that makes hot sauce and BBQ sauce. FYR sauces have been created by influential chefs, pitmasters, and foodies and come bursting with flavor and the right amount of heat. The business has strong pre-order results with minimal marketing and plans to launch new products, including grills, soon. Derek Wolf and Pete Taylor founded FYR in July 2021. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $470,000. The campaign proceeds will be used for research and development, funding the provisional product pipeline, customer research, market testing, and working capital.
Investment Overview
Invested : $511,938
Deal Terms
Total Commitments
- Platform
- Wefunder
- Start Date
- 01/22/2024
- Close Date
- 05/19/2024
$50,000
$470,000
$300
Equity - Preferred
Early Stage
RegCF
$0.88
$7,970,000
$10,000,000
Company & Team
Company
- Year Founded
- 2021
- Industry
- Food, Beverage, & Restaurants
- Tech Sector
- Distribution Model
- B2B/B2C
- Margin
- Medium
- Capital Intensity
- Low
Financials
-
Revenue
-
$0
as of FY2022
- Monthly Burn
-
$3,333
as of FY2022
-
Runway
-
10.8 months
as of
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Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $315,000
- VC Backed?
- No
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 05/19/2024 | Wefunder | $10,000,000 | $511,938 | Equity - Preferred | Funded | RegCF |