Sweetberry

Sweetberry

Closed: Mar. 2020

About this raise

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.

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Investment Overview

Invested this round: $372,716

Deal Terms

Total Commitments ($USD)

Platform
Republic
Start Date
11/11/2019
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%

Company & Team

Company

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
Company Website
Visit Website

Team

Employees
5
Founder Name
Desi Saran
Title
CEO

Financials

 Revenue
$2,089,477
 Monthly Burn
$44,417
 Runway
0.2 months
Gross Margin
62%

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

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
03/06/2020 Republic $9,000,000 $372,716 SAFE Funded RegCF
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Add to portfolio
Sweetberry on Republic
Platform: Republic
Security Type: SAFE
Valuation: $9,000,000

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

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