Otherworld

Early Stage

Plant-based baking mixes reimagined with hidden fruits and veggies

Overview

Raised to Date: 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
unlikely
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

Business Type

Growth

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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Otherworld on Republic 2022
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Platform: Republic
Security Type: SAFE
Valuation: $8,000,000

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