Midnight Harvest

Midnight Harvest

Closed: Apr. 2023

About this raise

Midnight Harvest, with a valuation of $3.5 million, is raising funds on Wefunder. The company is engaged in morel mushroom farming indoors under a controlled environment. The business grows about 50-60 pounds of shiitake mushrooms every week and sells them to retail outlets and local restaurants. Midnight Harvest is based on repeatable scientific proof and process and has been featured in publications like Grow-Bio, Northern Express, and Edible Grand Traverse. Matthew Hall founded Midnight Harvest in March 2014. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $124,000. The campaign proceeds will be used for equipment, building rental and modifications, custom morel growing containers, working capital, and COGS.

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Investment Overview

Invested this round: $79,001

Deal Terms

Total Commitments

Platform
Wefunder
Start Date
03/01/2023
Close Date
04/30/2023
Min. Goal
$50,000
Max Goal
$124,000
Min. Investment

$100

Security Type

SAFE

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$3,500,000

Discount

0%

Company & Team

Company

Year Founded
2014
Industry
Farming & Agriculture
Tech Sector
AgriTech
Distribution Model
B2B
Margin
Medium
Capital Intensity
Low
Location
Interlochen, Michigan
Business Type
Growth
Company Website
Visit Website

Team

Employees
1
Prior Founder Exits?
No
Founder Name
Matthew Hall
Title
CEO, Grower

Financials

 Revenue
$23,231
as of FY2021
 Cash on Hand
$8,042
as of FY2021
 Gross Margin
77%
as of FY2021

Summary Profit and Loss Statement

FY 2021 FY 2020

Revenue

$23,231

$13,541

COGS

$5,284

$2,341

Tax

$0

$0

 

 

Net Income

$7,383

$2,943

Summary Balance Sheet

FY 2021 FY 2020

Cash

$8,042

$2,971

Accounts Receivable

$474

$474

Total Assets

$8,840

$3,445

Short-Term Debt

$22,977

$24,546

Long-Term Debt

$0

$0

Total Liabilities

$22,977

$24,546

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$175,100
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
04/30/2023 Wefunder $3,500,000 $79,001 SAFE Funded RegCF
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Add to portfolio
Midnight Harvest on Wefunder 2023
Platform: Wefunder
Security Type: SAFE
Valuation: $3,500,000

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

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