Honeydrop

Honeydrop

Closed: Nov. 2021

About this raise

Honeydrop, with a pre-money valuation of $17.3 million, is raising funds on StartEngine. The company makes premium cold-pressed lemonades with a drop of raw honey. The lemonades of Honeydrop are made with superior ingredients, never heated, and contain only 4 grams of sugar and 16 calories per bottle. Andrew Lorig and David Luks founded Honeydrop in 2006. The current round of crowdfunding has a minimum goal of $9,999.50 and a maximum goal of $1,069,999.70, and the funds will be used for growth and expansion. Honeydrop is not only a fun and active lifestyle brand but also contributes to important causes, like Colony Collapse Disorder, a disease that has decreased the bee population manifold.

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Investment Overview

Invested this round: $368,215

Deal Terms

Total Commitments

Platform
StartEngine
Start Date
11/30/2020
Close Date
11/26/2021
Min. Goal
$10,000
Max Goal
$1,070,000
Min. Investment

$250

Security Type

Equity - Common

Company Stage

Growth Stage

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$0.70

Pre-Money Valuation

$17,269,896

Company & Team

Company

Year Founded
2006
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
High
Location
Malibu, California
Business Type
Growth
Company Website
Visit Website

Team

Employees
3
Prior Founder Exits?
No
Founder Name
David Luks
Title
Board Director

Financials

 Revenue +33% YoY
$1,100,000
 Monthly Burn
$30,142
 Runway
1.5 months
 Gross Margin
47%

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$829,515

$770,818

COGS

$441,620

$320,932

Tax

$0

$0

 

 

Net Income

$-361,709

$-547,318

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$44,281

$30,814

Accounts Receivable

$107,277

$183,754

Total Assets

$641,654

$728,949

Short-Term Debt

$12,158

$7,289

Long-Term Debt

$0

$0

Total Liabilities

$12,158

$7,289

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
11/26/2021 StartEngine $17,269,896 $368,215 Equity - Common Funded RegCF
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Add to portfolio
Honeydrop on StartEngine
Platform: StartEngine
Security Type: Equity - Common
Valuation: $17,269,896
Price per Share: $0.70

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

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