Orgfarm

Orgfarm

Early Stage

Makes Organic affordable

Makes Organic affordable

Overview

Raised to Date: Raised: $59,000

Total Commitments ($USD)

Platform

Wefunder

Start Date

11/20/2023

Close Date

02/23/2024

Min. Goal
$50,000
Max. Goal
$124,000
Min. Investment

$100

Security Type

SAFE

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$35,000,000

Discount

0%

Rolling Commitments ($USD)

Status

Active

Reporting Date

11/30/2023

Days Remaining

85

% of Min. Goal

118%

% of Max. Goal

48%

Likelihood of Max
extremely
Avg. Daily Raise

$5,900

# of Investors

18

Momentum
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Year Founded

2019

Industry

Farming & Agriculture

Tech Sector

Retailtech

Location

Santa Clara, California

Orgfarm, with a valuation of $35 million, is raising funds on Wefunder. The business sells affordable organic products by optimizing farmers’ supply and demand sources. Orgfarm uses data technology and its network model to deliver affordable organic products from farmers to consumers within 24 hours from harvest, leading to good revenue for farmers, low wastage, and a short payment cycle for farmers. The company works on a unique B2B and B2C integrated model and has 1,142 farmers, over 1 million orders, and more than 50,000 customers. Sakthi Saravanan, Thirumalaikumaran Ramamoorthy Mukundu, and Vijayakumar Rajamanickam founded Orgfarm in October 2019. 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 marketing to acquire new customers, adding new products and increasing stock, and hiring more resources.

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$1,467,000

$1,339,000

COGS

$1,481,000

$1,013,000

Tax

$0

$0

 

 

Net Income

$-771,000

$-881,000

Summary Balance Sheet

FY 2022 FY 2021

Cash

$47,000

$419,000

Accounts Receivable

$44,000

$60,000

Total Assets

$1,196,000

$1,153,000

Short-Term Debt

$467,000

$139,000

Long-Term Debt

$2,524,000

$2,119,000

Total Liabilities

$2,991,000

$2,258,000

Financials as of: 11/20/2023
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Orgfarm on Wefunder 2023
Platform: Wefunder
Security Type: SAFE
Valuation: $35,000,000

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