Happi
Early Stage
Meet Happi, now selling cannabis beverages in 32 states and scaling rapidly
Overview
Raised: $127,818
Total Commitments ($USD)
Platform
Wefunder
Start Date
03/27/2023
Close Date
07/31/2023
Min. Goal
$50,000
Max. Goal
$1,235,000
Min. Investment
$250
Security Type
SAFE
Series
Series A
SEC Filing Type
RegCF
Valuation Cap
$12,000,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
08/05/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,023
# of Investors
73
Momentum
Funded
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Year Founded
2020
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
Happi, with a valuation of $12 million, is raising funds on Wefunder. The company makes and sells cannabis beverages in 32 states in the US. The beverages of Happi contain 2.5-10 mg of THC derived from hemp or cannabis and help with specific needs like stress and sleep disorders. Happi drinks come in Glow and Nightcap varieties and are sold as a 4-pack online and at retail stores. Happi is led by an experienced team and expects to generate $10 million in revenue in 2023. Joe Reynolds and Lisa Hurwitz founded Happi in May 2020. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1.24 million. The campaign proceeds will be used for marketing, hiring, product development, and operating expenses.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$60,914 |
$13,783 |
|
COGS |
$86,575 |
$68,752 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-1,662,386 |
$-1,367,490 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$215,422 |
$608,804 |
|
Accounts Receivable |
$32,342 |
$0 |
|
Total Assets |
$357,812 |
$1,058,131 |
|
Short-Term Debt |
$53,846 |
$16,780 |
|
Long-Term Debt |
$3,457,418 |
$2,532,418 |
|
Total Liabilities |
$3,511,264 |
$2,549,198 |
Financials as of: 03/27/2023
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