Royal Caridea

Royal Caridea

Closed: Apr. 2023

About this raise

Royal Caridea, with a valuation of $8.8 million, is raising funds on Wefunder. It is a shrimp farming company focused on commercializing its transformative shrimp farming technology. The business will use its technology to build its first patented GEN-2, an 8-stacked raceway production system. Royal Caridea produces the Pacific whiteleg shrimp, Penaeus vannamei, and has the capacity to produce them on a continuous and predictable basis. Victoria Goitia and Michael Cunha founded Royal Caridea in June 2009. The current crowdfunding campaign has a minimum target of $75,000 and a maximum target of $1.07 million. The campaign proceeds will be used to prepare the facilities for raceway installation, hire the Marketing Director, increase the marketing budget, and invest in live haul transportation.

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Investment Overview

Invested this round: $82,790

Deal Terms

Total Commitments ($USD)

Platform
Wefunder
Start Date
10/26/2022
Close Date
04/30/2023
Min. Goal
$75,000
Max Goal
$1,065,000
Min. Investment

$100

Security Type

Equity - Preferred

Series

Series B

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.00

Early Bird Valuation

$7,047,856

Pre-Money Valuation

$8,809,820

Company & Team

Company

Year Founded
2009
Industry
Food, Beverage, & Restaurants
Tech Sector
Foodtech
Distribution Model
B2B
Margin
Medium
Capital Intensity
High
Location
Avondale, Arizona
Business Type
Growth
Company Website
Visit Website

Team

Employees
6
Prior Founder Exits?
No
Founder Name
Michael Cunha
Title
CFO
Founder Name
Maurice Kemp
Title
Managing Member / President and Director of Development

Financials

 Revenue
$140,006
 Monthly Burn
$72,264
 Runway
3.9 months
Gross Margin
44%

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$140,006

$1,747

COGS

$78,162

$2,136

Tax

$0

$0

 

 

Net Income

$-867,165

$-899,945

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$281,454

$191,373

Accounts Receivable

$39,548

$285

Total Assets

$3,130,461

$2,775,891

Short-Term Debt

$116,711

$98,364

Long-Term Debt

$4,083,279

$2,701,763

Total Liabilities

$4,199,990

$2,800,127

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$5,724,663
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
04/30/2023 Wefunder $8,809,820 $82,790 Equity - Preferred Funded RegCF
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Add to portfolio
Royal Caridea on Wefunder 2022
Platform: Wefunder
Security Type: Equity - Preferred
Valuation: $8,809,820
Price per Share: $1.00

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