Upright
Early Stage
Instant oatmilk as nutritious as dairy—just add water!
Overview
Raised: $438,337
Total Commitments ($USD)
Platform
Republic
Start Date
04/09/2021
Close Date
01/31/2022
Min. Goal
$25,000
Max. Goal
$1,070,000
Min. Investment
$100
Security Type
SAFE
Series
Pre-Seed
SEC Filing Type
RegCF
Valuation Cap
$5,000,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
02/06/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,476
# of Investors
1,122
Momentum
Funded
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Year Founded
2019
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
High
Capital Intensity
High
Upright, with a $5 million valuation cap, is raising crowdfunding on Republic. The company makes and sells instant oat milk that is ready to use just by adding water. The Upright oat milk is high-protein, allergen-free, creamy, and is available in three delicious flavors. Betty Tang and Thu Ra founded Upright in April 2019. The proceeds of the current crowdfunding round, with a minimum raise of $25,000 and a maximum raise of $1,070,000, will target the launch of commercial production and begin the next stage of growth. Upright estimates the earning to be around $12 per unit, with gross margins of 60%. The company has a projected ARR of $44 million by the end of 2024.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$372 |
$0 |
| ||
| ||
|
Net Income |
$-8,371 |
$5,315 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$7,919 |
$7,611 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$19,944 |
$8,315 |
|
Short-Term Debt |
$23,000 |
$3,000 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$23,000 |
$3,000 |
Financials as of: 04/09/2021
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