Otherworld
Early Stage
Plant-based baking mixes reimagined with hidden fruits and veggies
Overview
Raised: $45,351
Total Commitments ($USD)
Platform
Republic
Start Date
12/12/2022
Close Date
02/10/2023
Min. Goal
$25,000
Max. Goal
$1,235,000
Min. Investment
$250
Security Type
SAFE
Series
Seed
Funding Type
RegCF
Valuation Cap
$8,000,000
Discount Rate
0%
Rolling Commitments ($USD)
Status
Active
Reporting Date
02/02/2023
Days Remaining
8
% of Min. Goal
181%
% of Max. Goal
4%
Likelihood of Max
Avg. Daily Raise
$872
# of Investors
34
Momentum
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Location
New York, New York
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
Low
Otherworld, with a valuation of $8 million, is raising funds on Republic. The company makes plant-based baking mixes using hidden fruits and vegetables. It is a healthy and vegan pancake and waffle mix brand that contains upcycled superfoods, including whole grains, fruits, and vegetables, without sugar nuts, soy, dairy, or artificial ingredients. Otherworld has over 12,000 customers with 99% 5-star reviews and a $900,000 revenue run rate. Jen Ballen and Joe Magliano founded Otherworld in January 2021. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1.24 million. The campaign proceeds will be used to add more SKUs, grow, and expand.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$72,260 |
$0 |
|
COGS |
$29,928 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-282,189 |
$0 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$394,665 |
$0 |
|
Accounts Receivable |
$393 |
$0 |
|
Total Assets |
$646,274 |
$0 |
|
Short-Term Debt |
$57,523 |
$0 |
|
Long-Term Debt |
$870,000 |
$0 |
|
Total Liabilities |
$927,523 |
$0 |
Financials as of: 12/12/2022
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