Hooray Foods
Growth Stage
Delicious, plant-based meats that sizzle, like bacon!
Overview
Raised: $0
Total Commitments ($USD)
Platform
Wefunder
Start Date
01/17/2023
Close Date
03/29/2023
Min. Goal
$100,000
Max. Goal
$1,235,000
Min. Investment
$100
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$12,500,000
Discount
20%
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
03/29/2023
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$0
Momentum
Not Funded
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Year Founded
2019
Industry
Food, Beverage, & Restaurants
Tech Sector
Foodtech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
Low
Hooray Foods, with a valuation of $12.5 million, is raising funds on Wefunder. The company makes delicious and plant-based meats that sizzle like bacon. The food company uses simple ingredients, including rice, pea starch, tapioca, coconut oil, purple potato powder, and beet juice, and uses a patent-protected technology for making fatty meats. Hooray Foods products are sold in over 1,000 grocery stores and aim to protect the planet and pigs. Sri Artham founded Hooray Foods in March 2019. The current crowdfunding campaign has a minimum target of $100,000 and a maximum target of $1.24 million. The campaign proceeds will be used for supply-chain operations, acquiring new customers, research and development, marketing, and production optimization.
Summary Profit and Loss Statement
| FY 2021 | FY 2020 | |
|---|---|---|
|
Revenue |
$755,451 |
$85,430 |
|
COGS |
$682,404 |
$326,396 |
|
Tax |
$2,591 |
$1,143 |
| ||
| ||
|
Net Income |
$-3,048,698 |
$-998,654 |
Summary Balance Sheet
| FY 2021 | FY 2020 | |
|---|---|---|
|
Cash |
$1,392,693 |
$189,982 |
|
Accounts Receivable |
$96,216 |
$56,601 |
|
Total Assets |
$2,497,633 |
$821,891 |
|
Short-Term Debt |
$91,604 |
$18,720 |
|
Long-Term Debt |
$2,660,282 |
$1,926,192 |
|
Total Liabilities |
$2,751,886 |
$1,944,912 |
Financials as of: 01/17/2023
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