Hooray Foods
Growth Stage
Delicious, plant-based meats that sizzle, like bacon!
Overview
Raised: $38,300
Total Commitments ($USD)
Platform
Wefunder
Start Date
01/18/2023
Close Date
04/30/2023
Min. Goal
$100,000
Max. Goal
$1,235,000
Min. Investment
$100
Security Type
SAFE
Series
Seed
Funding Type
RegCF
Valuation Cap
$12,500,000
Discount Rate
20%
Rolling Commitments ($USD)
Status
Active
Reporting Date
02/01/2023
Days Remaining
88
% of Min. Goal
38%
% of Max. Goal
3%
Likelihood of Max
Avg. Daily Raise
$2,736
Momentum
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Location
San Francisco, California
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
| Most Recent Year | Prior Year | |
|---|---|---|
|
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
| Most Recent Year | Prior Year | |
|---|---|---|
|
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: 01/18/2023
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