Palm & Bean

Early Stage

Palm & Bean blends coffee with coconuts for natural sweetness and balanced taste.

Overview

Raised to Date: Raised: $66,461

Total Commitments ($USD)

Platform

Microventures

Start Date

11/10/2017

Close Date

12/16/2017

Min. Goal
$50,000
Max. Goal
$107,000
Min. Investment

$100

Security Type

SAFE

SEC Filing Type

RegCF    Open SEC Filing

Rolling Commitments ($USD)

Status
Funded
Reporting Date

12/31/2017

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$1,846

# of Investors

111

Momentum
Funded
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Year Founded

2015

Industry

Food, Beverage, & Restaurants

Tech Sector

Location

Hermosa Beach, California

Coffee is the ultimate morning beverage. Coconut milk is the ultimate tropical treat. Just imagine the two together…

...which is exactly what Palm & Bean has done! Palm & Bean blends Fair Trade coffee beans with coconut milk for a refreshing and balanced cold brewed coffee beverage -- and it comes ready-to-drink (RTD) style. They currently offer two flavors, Kona Mocha and Tahitian Vanilla, and all of their products are dairy-free and vegan. Each Tetra Pak container is 120 calories, contains 85mg of caffeine, and is flash-pasteurized, which allows it to be shelf-stable for up to 15 months without using artificial preservatives. It’s the ultimate tropical coffee indulgence!

After all, Americans love coffee, and they’re quickly falling for RTD beverages. Sixty-two percent of Americans drink coffee daily, and the RTD coffee market is expected to reach almost $2.5 billion by 2018 in North America. Although cold brew is less than 1% of the RTD industry, it’s shown substantial growth in the past few years and is expected to hit $38.1 million in 2017, which shows a 460% growth in retail sales since 2015. Twenty-one percent of current coffee drinkers choose cold brew, and with millennials’ increasing desire for convenience and quality, the demand for specialized RTD beverages -- like Palm & Bean -- will also increase.

Right now, Palm & Bean is available online through the company’s website and Thrive Market, as well as in independent grocers and small-chain retailers in Southern California such as Sprouts Market and Bristol Farms. Palm & Bean were also recently accepted into all of Albertsons’ Southern California locations, including Pavilions, for a total of more than 320 additional stores. As of September 2017, they’ve generated over $19,000 in sales.
Their products are bottled at California Natural Products, a state-of-the-art production facility specializing in the production of high-quality natural and organic beverages, as well as the flash pasteurization process.

The bottom line is that Palm & Bean thinks about coffee differently, and they want you to, too. They’re bringing tropical flavors to cold brew coffee. They want you to fully enjoy and experience their coconutty-yet-caffeinated beverages....and see where their RTD coffee can take you.

“Who Should Be Interested in This Offer:”
If you’re a grocer with clients who love caffeine, a specialized coffee lover, or someone who needs their daily caffeine fix to be RTD, then Palm & Bean could be the investment you’ve been looking for. They want to offer their cold-brew coconut-coffee beverage to more people, and with them, you might just be able to get your coffee fix in a new way -- one that’s ready-to-go, dairy-free, vegan...and delicious.
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Palm & Bean on Microventures
Platform: Microventures
Security Type: SAFE

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Warning: according to the close date for this deal, Palm & Bean may no longer be accepting investments.

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