Renewal Mill

Upcycled food company that fights climate change & food loss

Analytics

Raised to Date: $116,852

Aggregate Commitments $
Platform

Republic

Start Date

09/03/2020

Close Date

11/30/2020

Min. Goal

$25,000

Max. Goal

$1,070,000

Min. Investment

$50

Security Type

SAFE

Funding Type

RegCF

Series

Seed

Valuation Cap

$10,000,000

Discount Rate

20%

Rolling Commitments $
Status
Funded
Reporting Date

12/06/2020

Days Remaining
Funded
% of Min. Goal

467%

% of Max. Goal

11%

Likelihood of Max
Funded
Avg. Daily Raise

$1,328

# of Investors

455

Momentum
Funded
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Location

San Francisco, California

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

High

Business Type

Growth

Renewal Mill, with a $10 million valuation cap, is raising funds on Republic. It is an upcycled food company that utilizes by-products from the food production processes and creates nutritious ingredients and foods. The company provides B2B services, B2B ingredients, and B2C products. Claire Schlemme and Caroline Cotto founded Renewal Mill in June 2016 and have raised over $1.75 million since the inception. The proceeds of the current crowdfunding round, with a minimum raise of $25,000 and a maximum raise of $1,070,000, will be used to expand the product line and continue to reduce food waste and feed people. Renewal Mill is sold in more than 85 stores and has partnered with major brands like Hodo & Amy’s.
Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$81,152

$61,566

COGS

$107,160

$51,441

Tax

$0

$0

 

 

Net Income

$-856,827

$-238,797

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$162,727

$5,670

Accounts Receivable

$23,369

$16,894

Total Assets

$719,076

$41,221

Short-Term Debt

$46,383

$52,173

Long-Term Debt

$0

$204,425

Total Liabilities

$46,383

$256,598

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