Spirity Cocktails

Spirity Cocktails

Closed: Sep. 2022

About this raise

Spirity Cocktails, with a valuation of $4 million, is raising funds on SeedInvest. The company makes non-alcoholic cocktails using spirits distilled from tea. The cocktails are traditionally crafted and provide an adult-like sipping experience. Spirity Cocktails drinks are designed to be sold and consumed on the same occasions as hard seltzers and canned RTD cocktails. The business has generated $630,000 in lifetime sales, with 53% of the revenue from repeat customers. Eric Knight and Joseph Rosa founded Spirity Cocktails in July 2019. The current crowdfunding campaign has a minimum RegCF target of $25,000, a minimum raise target of $400,000, and a maximum target of $1,000,000. The campaign proceeds will be used for the team, marketing, product, and working capital.

Expand

Investment Overview

Invested this round:
$72,000 - RegCF
$207,000 - Total

Deal Terms

Total Commitments

Platform
SeedInvest
Start Date
08/12/2022
Close Date
09/30/2022
Min. Goal
$25,000
Max Goal
$1,000,000
Min. Investment

$1,000

Security Type

Convertible Note

Series

Pre-Seed

SEC Filing Type

RegCF / RegD 506(c)    Open SEC Filing

Valuation Cap

$4,000,000

Discount

20%

Company & Team

Company

Year Founded
2019
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
Location
Modesto, California
Business Type
Growth
Company Website
Visit Website

Team

Employees
4
Prior Founder Exits?
No
Founder Name
Eric Knight
Title
Master Distiller
Founder Name
Joseph Rosa
Title
Creative Director

Financials

 Revenue
$349,901
 Monthly Burn
$3,850
 Runway
8.1 months
Gross Margin
16%

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$349,901

$0

COGS

$293,588

$0

Tax

$0

$0

 

 

Net Income

$-46,201

$-108,550

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$31,248

$49,256

Accounts Receivable

$6,320

$0

Total Assets

$143,487

$100,842

Short-Term Debt

$17,939

$4,651

Long-Term Debt

$0

$0

Total Liabilities

$17,939

$4,651

Create a free account today to gain access to Kingscrowd analytics and financials.

Upgrade to gain access

Pay Monthly
Annually (2 months free)

Edge

$12.50 /month
billed annually
Free portfolio tracking, data-driven ratings, AI analysis and reports
Plan Includes:
Everything in Free, plus
Company specific Kingscrowd ratings and analyst reports
Deal explorer and side-by-side comparison
Startup exit and failure tracking
Startup market filters and historical industry data
Advanced company search ( with ratings)
Get Edge Annual
Already a member? Log in here.

Ratings Kingscrowd Startup Rating Methodology Article

Blurred Ratings Bars Blurred Ratings Bars

Company Funding & Growth

Funding history

Total Prior Capital Raised
$0
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
09/30/2022 SeedInvest $4,000,000 $207,000 Convertible Note Funded RegCF / RegD 506(c)
Create a free account today to gain access to Kingscrowd analytics.
Founders: enhance your startup's credibility on Kingscrowd. Create an account to claim this raise page.
Add to portfolio
Spirity Cocktails on SeedInvest 2022
Platform: SeedInvest
Security Type: Convertible Note
Valuation: $4,000,000

Follow company

Follow Spirity Cocktails on SeedInvest 2022

Buy Spirity Cocktails's Deal Report

Warning: according to the close date for this deal, Spirity Cocktails may no longer be accepting investments.

Spirity Cocktails Deal Report

Get Kingscrowd's comprehensive report on Spirity Cocktails including:

  • How our proprietary algorithm rates their current capital raise (1-5 stars)
  • Detailed price, market, team, differentiators, performance, and risk ratings
  • Whether Spirity Cocktails is undervalued or overvalued
  • Scores on the founding team and key personnel's background and expertise

Buy the Spirity Cocktails deal report for only $10!

Email address:
Looking to buy more than one deal report? Get unlimited reports by upgrading to Edge