Sweetberry

Sweetberry

Growth Stage

Superfood made with good vibes

Superfood made with good vibes

Overview

Raised this Round: Raised: $372,716

Total Commitments ($USD)

Platform

Republic

Start Date

11/10/2019

Close Date

03/06/2020

Min. Goal
$100,000
Max. Goal
$1,070,000
Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$9,000,000

Discount

20%

Year Founded

2017

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

Low

Capital Intensity

Low

Location

West New York,

Business Type

Life Style

Sweetberry, with a valuation cap of $9 million, is raising funds on Republic. The company is known for its healthy superfood concept that brings fresh food and good vibes to the local community. The products include healthy and customized Acai Bowls, Poke Bowls, salads, wraps, smoothies, and vegan ice-cream. Sweetberry was founded in September 2017 by Desi Saran and has raised more than $1 million in previous rounds of funding. The proceeds of the current crowdfunding round, with a minimum goal of $100,000 and a maximum goal of $1,070,000, will be used to hire more talent, to fund corporate build-outs, and for franchise growth and development. Sweetberry already has 19 locations nationwide and plans to grow to 30 locations by 2020. The company generated over $2 million in revenues in 2018 and expects to generate more than $4 million in 2019.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$2,089,477

$15,896

COGS

$800,876

$10,475

Tax

$0

$0

 

 

Net Income

$-533,008

$-65,053

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$8,251

$6,168

Accounts Receivable

$20,965

$0

Total Assets

$1,385,240

$82,642

Short-Term Debt

$336,801

$19,518

Long-Term Debt

$228,636

$0

Total Liabilities

$565,437

$19,518

Financials as of: 11/10/2019
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Sweetberry on Republic
Platform: Republic
Security Type: SAFE
Valuation: $9,000,000

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