Meridian Hive
About this raise
Meridian Hive is bringing you the next big thing in mead. Mead is gluten-free, made out of fermented honey, and is used in craft beverages. Since their start in 2013, Meridian Hive is now being distributed in seven states and is sold in over 1200 restaurants, bars, and grocery stores. They have 15 products, and they’ve won 18 awards from prestigious mead competitions since their founding. Plus, they’ve earned over $730,000 in revenue in 2017 with 94% YoY annual growth since 2013. Meridian is among H-E-B’s fastest growing Texas Craft Brands in 2018, and co-founder Mike Simmons is the only person to ever win four gold medals in a single year at the largest mead competition, The Mazer Cup.
Investment Overview
Invested : $244,500
Deal Terms
Total Commitments
- Platform
- Wefunder
- Start Date
- 10/05/2018
- Close Date
- 03/26/2019
$200,000
$1,000,000
$500
Convertible Note
Early Stage
RegCF
$7,500,000
0%
Company & Team
Company
- Year Founded
- 2016
- Industry
- Alcohol, Tobacco, & Recreational Drugs
- Tech Sector
- Distribution Model
- B2C
- Margin
- Capital Intensity
- Location
- Austin, Texas
- Company Website
-
Visit Website
Team
- Employees
- 5
Financials
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Company Funding & Growth
Funding history
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 03/26/2019 | Wefunder | $7,500,000 | $244,500 | Convertible Note | Funded | RegCF |