SoNo 1420

SoNo 1420

Closed: Oct. 2024

About this raise

SoNo 1420, with a valuation of $24.95 million, is raising funds on StartEngine. It is a craft distillery that produces ultra-premium spirits capturing the essence of coastal climate. SoNo 1420’s coastal New England spirits are infused with innovation and excellence and include its flagship whiskeys, vodkas, and ready-to-mix cocktails. The company has won several awards for its products and generated $1.3 million in revenue in 2023. Theodore E. Dumbauld founded SoNo 1420 in October 2022. The current crowdfunding campaign has a minimum target of $14,999.78 and a maximum target of $1.23 million. The campaign proceeds will be used for sales and marketing, whiskey inventory, and operating expenses.

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Investment Overview

Invested this round: $170,775

Deal Terms

Total Commitments ($USD)

Platform
StartEngine
Start Date
07/30/2024
Close Date
10/28/2024
Min. Goal
$15,000
Max Goal
$1,234,998
Min. Investment

$348

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$2.81

Pre-Money Valuation

$24,950,226

Company & Team

Company

Year Founded
2022
Industry
Alcohol, Tobacco, & Recreational Drugs
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
Low
Location
Norwalk, Connecticut
Business Type
Growth
Company Website
Visit Website

Team

Employees
15
Prior Founder Exits?
No
Founder Name
Ted Dumbauld
Title
Co-CEO, CFO

Financials

as of May 10, 2024
 Revenue +18% YoY
$1,325,208
 Monthly Burn
$65,000
 Runway
3.5 months
Gross Margin
48%

Summary Profit and Loss Statement

FY 2023 FY 2022

Revenue

$1,325,208

$1,100,859

COGS

$687,036

$492,225

Tax

$0

$0

 

 

Net Income

$-1,500,060

$-908,488

Summary Balance Sheet

FY 2023 FY 2022

Cash

$105,503

$1,696,216

Accounts Receivable

$274,379

$165,117

Total Assets

$1,804,295

$3,132,365

Short-Term Debt

$111,371

$98,939

Long-Term Debt

$44,500

$44,500

Total Liabilities

$155,871

$143,439

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$4,541,853
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
10/28/2024 StartEngine $24,950,226 $170,775 Equity - Common Funded RegCF
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Add to portfolio
SoNo 1420 on StartEngine 2024
Platform: StartEngine
Security Type: Equity - Common
Valuation: $24,950,226
Price per Share: $2.81

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