Modern Picnic
About this raise: Modern Picnic, with a valuation of $10 million, is raising funds on Republic. The company makes stylish and insulated lunch boxes for women. The lunch boxes are made using vegan leather and provide a functional and sustainable alternative to the traditional lunchboxes. Modern Picnic has doubled and tripled its revenue each year since its launch to reach almost $3 million in revenue and is planning wholesale expansion to Saks Fifth Avenue in 2022. Ali Kaminetsky founded Modern Picnic in December 2020. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $1,070,000. The campaign proceeds will be used to launch new products, develop new partnerships, and develop new distribution deals.
Investment Overview
Invested : $102,250
Deal Terms
Total Commitments ($USD)
- Platform
- Republic
- Start Date
- 06/29/2022
- Close Date
- 10/18/2022
$25,000
$1,070,000
$150
SAFE
Seed
RegCF
$10,000,000
20%
Company & Team
Company
- Year Founded
- 2020
- Industry
- Apparel & Fashion
- Tech Sector
- Distribution Model
- B2C
- Margin
- Medium
- Capital Intensity
- Low
Financials
- Revenue +209% YoY
- $1,459,574
- Monthly Burn
- $62,082
-
Runway
- 1.5 months
- Gross Margin
- 56%
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Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $900,000
- VC Backed?
- No
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 10/18/2022 | Republic | $10,000,000 | $102,250 | SAFE | Funded | RegCF |