Local Roots Kombucha
Growth Stage
A Brew for a Better Tomorrow
Overview
Raised: $363,907
Total Commitments ($USD)
Platform
StartEngine
Start Date
06/07/2021
Close Date
12/06/2021
Min. Goal
$9,999
Max. Goal
$1,070,000
Min. Investment
$247
Security Type
Equity - Common
Series
Seed
SEC Filing Type
RegCF
Price Per Share
$2.63
Pre-Money Valuation
$42,385,853
Rolling Commitments ($USD)
Status
Funded
Reporting Date
12/30/2021
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$2,011
# of Investors
227
Momentum
Funded
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Year Founded
2017
Industry
Alcohol, Tobacco, & Recreational Drugs
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
High
Local Roots Kombucha, with a pre-money valuation of $42.4 million, is raising funds on StartEngine. The business makes bold hard kombucha which pushes the boundaries for the next-gen, better-for-you alcohol. The hard kombucha of Local Roots Kombucha is all-organic, plant-based, functional, and great tasting. Joe Carmichael and Ryan White founded Local Roots Kombucha in January 2017. The proceeds of the current crowdfunding round, with a minimum raise of $9,999 and a maximum raise of $1,069,999, will be used for marketing, innovation, and expansion. Local Roots Kombucha has grown from number 5 to number 2 in category growth and up by 284% since COVID.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$1,793,488 |
$565,376 |
|
COGS |
$1,239,530 |
$176,978 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-1,751,520 |
$-368,712 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$325,115 |
$83,026 |
|
Accounts Receivable |
$54,073 |
$42,312 |
|
Total Assets |
$2,151,855 |
$673,732 |
|
Short-Term Debt |
$558,563 |
$292,295 |
|
Long-Term Debt |
$2,900,836 |
$409,829 |
|
Total Liabilities |
$3,459,399 |
$702,124 |
Financials as of: 06/07/2021
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