Hooray Foods

Growth Stage

Delicious, plant-based meats that sizzle, like bacon!

Overview

Raised to Date: 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
unlikely
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

Business Type

Growth

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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Hooray Foods on Wefunder 2023
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Platform: Wefunder
Security Type: SAFE
Valuation: $12,500,000

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