VitaBowl

VitaBowl

Early Stage

Nutritionist Designed, Chef Refined Superfood Meals

Nutritionist Designed, Chef Refined Superfood Meals

Overview

Raised to Date: Raised: $80,831

Total Commitments ($USD)

Platform

StartEngine

Start Date

02/29/2024

Close Date

04/29/2024

Min. Goal
$15,000
Max. Goal
$1,234,999
Min. Investment

$199

Security Type

Equity - Common

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.26

Pre-Money Valuation

$9,990,303

Rolling Commitments ($USD)

Status
Funded
Reporting Date

05/04/2024

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$1,370

# of Investors

115

Momentum
Funded
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Year Founded

2019

Industry

Food, Beverage, & Restaurants

Tech Sector

Foodtech

Distribution Model

B2B/B2C

Margin

Low

Capital Intensity

Low

Location

LOS ANGELES, California

Business Type

Growth

VitaBowl, with a valuation of $9.99 million, is raising funds on StartEngine. The company offers nutritionist-designed and chef-refined superfood meals. VitaBowl meals are personalized and health-focused and are guided by a 3-star Michelin Chef to help people heal their bodies from the inside out. The business also offers a telehealth service that connects users with nutritionists and provides them with tailored meals. VitaBowl has key B2B clients, including Cedars Sinai and UCLA Health, and has shipped over 200,000 meals. Dominique Crenn, Charles Yim, Miko Lorenzo, and Sarah Brandow founded VitaBowl in November 2019. The current crowdfunding campaign has a minimum target of $15,000 and a maximum target of $1.23 million. The campaign proceeds will be used for research and development, sales and marketing, software engineering, working capital, and marketing.

Summary Profit and Loss Statement

FY 2023 FY 2022

Revenue

$859,342

$213,858

COGS

$698,792

$211,457

Tax

$0

$0

 

 

Net Income

$-722,890

$-1,356,219

Summary Balance Sheet

FY 2023 FY 2022

Cash

$146,837

$150,526

Accounts Receivable

$71,234

$61,218

Total Assets

$798,791

$508,907

Short-Term Debt

$398,705

$68,529

Long-Term Debt

$3,287,296

$2,759,000

Total Liabilities

$3,686,001

$2,827,529

Financials as of: 02/29/2024
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
VitaBowl 04/28/2024 StartEngine $9,990,303 $80,831 Equity - Common Funded RegCF
VitaBowl 09/15/2023 Republic $15,000,000 $0 SAFE Not Funded RegCF
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Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Valuation History

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Employee History

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Analyst Report

Synopsis

The US health and wellness food market is rapidly growing, catering to an increasingly health-conscious consumer base seeking nutritious options that support a healthy lifestyle. Amidst this burgeoning demand, VitaBowl has carved out a niche by offering nutritionist-designed, chef-refined superfood meals that are personalized and health-focused and created under the guidance of a 3-star Michelin Chef. This unique approach ensures that VitaBowl's offerings are beneficial for health and refined in taste, making healthy eating a delightful experience.

Understanding the importance of personalized nutrition, VitaBowl extends its services beyond just meals. The company has integrated a telehealth service that connects users with nutritionists, providing them with tailored meal plans designed to heal their bodies from the inside out. This innovative approach positions VitaBowl at the intersection of food and medicine, pioneering a concept where meals are meant to satiate hunger and serve as a tool for physical well-being and recovery.

VitaBowl's impact is further underscored by its impressive clientele, which includes key B2B clients like Cedars Sinai and UCLA Health. Having shipped over 200,000 meals, the company has demonstrated its capacity to meet the demands of both individual consumers and large healthcare institutions. This achievement speaks to the scalability of VitaBowl's business model and the trust and credibility it has built within the industry.

With a mission to bring nutritionally designed and medically tailored meals to the mainstream market, VitaBowl stands at the forefront of the "Food as Medicine" movement. The company's commitment to sustainability and conscious consumption and its innovative approach to combining nutritious meals with personalized dietary guidance positions VitaBowl as a transformative force in the health and wellness food market. As it embarks on its next phase of growth, fueled by the proceeds from its crowdfunding campaign aimed at research and development, sales and marketing, software engineering, and working capital, VitaBowl is poised to expand its reach and impact, making nutritious, delicious, and sustainable meals accessible to a wider audience.

Next Section: Price

Price

VitaBowl is entering crowdfunding with a pre-money valuation of approximately $10 million. This valuation is set against a backdrop of $859,342 in annual revenue, which reflects a revenue multiple of 11.63x. For a company in the Food, Beverage, & Restaurant industry, especially one that is pre-profit and in its early stage, this multiple is on the higher end but not uncommon for growth-oriented startups with a unique value proposition and high growth potential.

 

Next Section: Market

Market

The US health and wellness food market, where VitaBowl operates, is a rapidly growing sector within the broader food industry. With an addressable market size valued at $841 billion, the potential for growth and expansion is substantial. The health and wellness trend has gained significant momentum over the past few years, driven by increasing consumer awareness about the importance of healthy eating habits and the desire for more nutritious food choices. This growing consumer demand for health-focused meals presents a lucrative opportunity for VitaBowl, specializing in nutritionist-designed and chef-refined superfood meals.

VitaBowl differentiates itself by offering personalized, health-focused meals guided by a 3-star Michelin Chef and aiming to heal bodies from the inside out. The company's approach to integrating food with medicine and providing medically tailored meals is innovative in the food industry. Furthermore, VitaBowl’s telehealth service, which connects users with nutritionists and provides tailored meal plans, positions the company at the intersection of health, wellness, and technology. This unique value proposition could significantly enhance VitaBowl’s market acceptance and competitive edge.

Despite the high market potential and growing consumer demand, the health and wellness food sector is extremely competitive, with numerous players vying for market share. To succeed, VitaBowl will need to continue leveraging its unique offerings and potentially explore strategic partnerships with healthcare providers and insurance companies, especially given its existing relationships with notable B2B clients such as Cedars Sinai and UCLA Health. Additionally, the company’s efforts to tie insurance reimbursement to medically tailored meals could pave the way for new revenue streams and further differentiate VitaBowl in a crowded market.

In conclusion, VitaBowl is well-positioned to capitalize on the expanding health and wellness food market. The company's commitment to providing nutritious, delicious, and sustainable meals and its innovative telehealth services sets a solid foundation for growth. However, navigating the highly competitive landscape will require strategic focus, continuous innovation, and effective marketing strategies to enhance brand visibility and consumer engagement.

Next Section: Team

Team

VitaBowl, a company at the forefront of the health and wellness food market, is led by a team that combines culinary excellence with nutritional expertise. Dominique Crenn, serving as the Head of Culinary, brings a wealth of experience from the culinary world. Known for her role as a 3-star Michelin Chef, Crenn's involvement in VitaBowl underscores the company's commitment to offering nutritionist-designed and chef-refined superfood meals. Her culinary vision is instrumental in guiding VitaBowl's mission to heal bodies from the inside out through food. Crenn's leadership in the kitchen ensures that VitaBowl's meals are health-focused and refined to meet high culinary standards.

Complementing Crenn's culinary expertise is Sarah Brandow, the Chief Nutritionist at VitaBowl. With ten years of experience in nutrition, Brandow plays a crucial role in ensuring that VitaBowl's offerings are scientifically backed and tailored to meet the nutritional needs of its customers. Her expertise is vital in developing VitaBowl's telehealth service, which connects users with nutritionists and provides them with personalized meal plans. Crenn and Brandow embody the fusion of culinary art and nutritional science that defines VitaBowl's approach to health and wellness.

 

Next Section: Differentiation

Differentiation

VitaBowl has carved out a unique position in the highly competitive health and wellness food market by offering nutritionist-designed, chef-refined superfood meals. This approach ensures that the meals are health-focused and guarantees a high level of culinary quality, guided by a 3-star Michelin Chef. The combination of nutritional science and haute cuisine sets VitaBowl apart from other companies in the space, which may focus on one aspect but not both.

Another significant differentiator for VitaBowl is its integration of telehealth services, making it one of the first in the industry to offer a comprehensive wellness solution. By connecting users with nutritionists and dieticians, VitaBowl provides personalized meal plans that are healthy and tailored to each individual's specific dietary needs. This holistic approach to health and nutrition is a forward-thinking strategy that leverages the growing trend toward personalized healthcare.

VitaBowl's strategic partnerships with key B2B clients like Cedars Sinai and UCLA Health underscore its credibility and the trust it has garnered within the healthcare community. Shipping over 200,000 meals is a testament to its operational success and market acceptance. These partnerships provide a steady revenue stream and validate VitaBowl's concept of medically tailored meals, potentially opening doors for insurance reimbursement in the future.

In an extremely competitive market, VitaBowl's high-quality differentiation, innovative approach to combining food with telehealth services, and strategic partnerships position it as a health and wellness food sector leader. Despite the absence of patents, VitaBowl's unique value proposition and execution excellence make it a compelling player in the industry.

Next Section: Performance

Performance

Since its inception, VitaBowl has demonstrated significant traction in the health and wellness food market. The company, operating at the intersection of nutrition and technology, offers nutritionist-designed, chef-refined superfood meals to promote health and wellness. With a unique value proposition that includes a telehealth service connecting users with nutritionists for personalized meal planning, VitaBowl has positioned itself as a pioneer in the "Food as Medicine" movement.

Financially, VitaBowl has shown impressive growth. The company reported annual revenue of approximately $859,342, a staggering 301.83% growth. This revenue growth is particularly noteworthy in the highly competitive food, beverage, and restaurant industry, indicating strong market demand for VitaBowl's offerings. The company's ability to secure key B2B clients such as Cedars Sinai and UCLA Health further underscores its value proposition and market acceptance. Shipping over 200,000 meals is a testament to its operational capability and market reach.

Despite being in the pre-profit phase, VitaBowl has successfully raised $3.17 million in prior funding rounds, showcasing investor confidence in its business model and growth potential. The company's cash position, with $146,837 in cash and cash equivalents at the end of the most recent fiscal year, alongside a monthly burn rate of approximately $60,241, suggests a runway that requires careful financial management and potentially further capital infusion to sustain growth and expansion efforts.

VitaBowl's performance highlights its innovative approach to the food and wellness industry, backed by significant revenue growth and strategic B2B partnerships. However, as the company progresses, careful attention to financial management and continued innovation will be crucial to maintaining its growth trajectory and achieving profitability in the highly competitive and evolving market.

Next Section: Risk

Risk

VitaBowl operates in the highly competitive health and wellness food market, which is characterized by rapid innovation and many entrants. Despite its unique value proposition of nutritionist-designed and chef-refined superfood meals, the company faces significant competition from direct and indirect competitors. This crowded marketplace could make customer acquisition and retention more challenging, affecting VitaBowl's ability to grow and capture market share.

VitaBowl's ambitious growth is also underscored by its heavy reliance on partnerships with key B2B clients, including Cedars Sinai and UCLA Health. While these relationships are undoubtedly valuable, they also introduce risk. Any changes in these partnerships, whether through renegotiation, termination, or shifts in the client's strategic priorities, could impact VitaBowl's revenue and growth trajectory.

Another point of concern is VitaBowl's financial health. The company has a substantial amount of long-term debt ($3,287,296.00) relative to its current cash reserves ($146,837.00) and annual revenue ($859,342.00), which poses a financial stability risk. The company's ability to service this debt, continue its operations, and invest in growth initiatives may be strained, especially if it encounters unexpected challenges or revenue growth does not meet projections.

Finally, while promising, VitaBowl's innovative approach, combining telehealth services with tailored meal solutions, may also present operational challenges. Scaling such a model requires producing and distributing meals and successfully integrating technology and healthcare services. This complexity adds layers of operational risk, from quality control in meal production to its telehealth services' effectiveness and user adoption.

Next Section: Bullish Outlook

Bullish Outlook

VitaBowl's innovative approach to merging health and convenience through its nutritionist-designed and chef-refined superfood meals positions it strongly in the burgeoning US health and wellness food market. The company's impressive collaboration with prestigious clients such as Cedars Sinai and UCLA Health validates its business model and provides a significant growth avenue through B2B channels. With over 200,000 meals shipped, VitaBowl has demonstrated its operational capabilities and product demand.

The exceptional annual revenue growth rate of 301.83% indicates a rapidly expanding customer base and a strong product-market fit. This surge underscores the increasing consumer shift towards health-focused meal options and VitaBowl's ability to capitalize on this trend. The involvement of a 3-star Michelin Chef in meal design enhances the brand's appeal by promising gourmet quality alongside nutritional benefits.

Moreover, VitaBowl's pioneering telehealth service, which connects users with nutritionists for tailored meal plans, represents a unique selling proposition in the health and wellness sector. Integrating technology with personalized nutrition advice could disrupt the traditional meal delivery service model and set VitaBowl apart from its competitors.

Prominent VC investors such as Gaingels, Murano Capital, and LA Fund have backed VitaBowl, adding credibility to its business strategy and future growth potential. These partnerships provide financial support and access to strategic advice and networks that can accelerate expansion.

Next Section: Bearish Outlook

Bearish Outlook

VitaBowl operates in the highly competitive U.S. health and wellness food market, characterized by intense competition and rapidly changing consumer preferences. The company's valuation of $9.99 million, with a revenue multiple of 11.63x, seems optimistic given its pre-profit status and the challenges it faces in scaling its unique value proposition of nutritionist-designed, chef-refined superfood meals. Despite impressive revenue growth and the shipment of over 200,000 meals, VitaBowl's financial sustainability is questionable, with a reported annual net loss of -722,890.00 dollars.

The food, beverage, and restaurant industry is notorious for low barriers to entry, which compounds VitaBowl's risk. New entrants can easily emerge, potentially offering similar or better value propositions. While VitaBowl has established key B2B clients, such as Cedars Sinai and UCLA Health, maintaining and expanding such partnerships in a sector where customer loyalty is hard to secure presents significant challenges. The absence of patents further exacerbates this issue, leaving VitaBowl vulnerable to competition that can replicate its business model or product offerings.

Moreover, although innovative, VitaBowl's strategy of integrating telehealth services to connect users with nutritionists for tailored meal recommendations adds another layer of operational complexity and cost. The efficacy of this model in driving significant revenue growth remains to be proven, especially considering the monthly burn rate of $60,240.83 and cash reserves reported at the end of the most recent fiscal year being relatively low at 146,837.00 dollars. This cash position, juxtaposed with the company's burn rate, raises concerns about VitaBowl's runway and its ability to sustain operations without securing additional financing soon.

In summary, while VitaBowl presents an innovative approach to the health and wellness food market, its high valuation in the face of substantial operational losses, intense competition, and the challenges of scaling its business model presents significant risks for investors. The company's future success will heavily depend on its ability to manage these risks while innovating and capturing a larger market share in a highly competitive environment.

Next Section: Executive Summary

Executive Summary

VitaBowl positions itself at the intersection of nutrition, convenience, and technology, offering nutritionist-designed and chef-refined superfood meals. This innovative approach to meal preparation caters to the growing demand for healthy eating options. It leverages the expertise of a 3-star Michelin Chef to ensure that health-focused meals do not compromise on taste. The company has distinguished itself in the highly competitive food, beverage, and restaurant industry by focusing on meals designed to heal the body from the inside out.

With a significant increase in health consciousness among consumers, VitaBowl taps into the US Health and Wellness Food Market, which has shown robust growth. The company's unique value proposition is further enhanced by its telehealth service, which connects users with nutritionists and provides a personalized meal-planning experience. This holistic approach to nutrition, combined with the backing of key B2B clients such as Cedars Sinai and UCLA Health, underscores VitaBowl's potential to carve out a significant niche in the market.

VitaBowl has demonstrated impressive growth, with annual revenue growth reported at 301.83%. This growth indicates the strong market demand for its offerings and the effectiveness of its business strategy. Despite being in the growth stage and facing the challenges of a pre-profit company, VitaBowl has successfully shipped over 200,000 meals, showcasing its operational capabilities and market acceptance.

The company's strategic use of funds for research and development, sales and marketing, software engineering, and working capital indicates a forward-looking approach to sustaining growth and expanding its market footprint. VitaBowl's commitment to innovation and quality, backed by venture capital investment from notable investors such as Gaingels, Murano Capital, and LA Fund, positions it well for future success.

However, the food and beverage industry is known for its low barriers to entry and intense competition. VitaBowl must continue to innovate and differentiate its offerings to maintain its competitive edge. The company's focus on sustainability and its mission to bring nutritionally designed and medically tailored meals to the mainstream market align with current consumer trends and preferences, potentially aiding its continued growth and success.

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VitaBowl on StartEngine 2024
Platform: StartEngine
Security Type: Equity - Common
Valuation: $9,990,303
Price per Share: $1.26

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