Equity crowdfunding isn’t just being utilized to build traditional tech startups. One area where we have seen recent movement in the equity crowdfunding space as it relates to companies raising funds is the food-tech industry where the food we eat is being reinvented from the inside out.
Below, we highlight several food-tech startups that are creating new flavors, snacks and ways of acquiring meals and vegetables for the modern American consumer. These sustainable food enterprises, organic options and focus on health and wellness are all trends that continue to gain momentum in the US.
Some work on bringing the growers and the buyers closer together, while others work on delivering fresh organic meals to the doorsteps of the health-conscious customers. The more we have seen momentum build in the food-tech space, we thought it important to allow you, the investor an option to learn more about all of the current opportunities in this on-trend space.
When it comes to reinventing food and its supply chain it looks like crowdfunding might just be the path to make sure everyone walks away from the table a winner, and we want you to be a part of it.
Some of the reinventing food startups that you can invest in are:
What is it
Vinder is a startup that enforces the concept of neighbors feeding neighbors. It provides a web/mobile based platform for the home growers to buy and sell their local produce. The home gardeners grow organic fruits and vegetables and sell it to their neighbors though Vinder.
The Problem
The problem that home growers faced was of excess produce. The produce was more than they could personally use and they could not find an effective medium to distribute their products. On the other hand, the consumers did not have easy access to the homegrown organic products. The organic products in the market were highly priced.
The Solution
Vinder comes with the solution to problems at both ends. It provides a market for the growers to sell their products and gives the consumers access to the locally grown high-quality products at cheaper prices.
The Founder
Vinder was founded by Sam Lillie. He started his business by selling his homegrown produce to his neighbors by knocking on their doors and delivering on his bicycle.
Growth
Presently, Vinder is already in 90 cities in 19 states. The buyer retention rate is 70% and the grower retention rate is 90%. The mobile application of Vinder has more than 700 pre-registered users. Vinder earns revenue by charging a 20% service fee on the buyer side.
What is it
Feast & Frettle is a subscription-based, premium meal delivery service. The customers can choose from a rotating menu of entrees and sides, and seasonally inspired fresh meals that are delivered to their doorsteps.
The Problem
In an age where most members of a household are working, it is very difficult for the family to put healthy and wholesome meal on the table, due to lack of time. It is also difficult to cater to the different dietary and preferential needs of all the members of the family.
The Solution
Feast & Fettle came up with the solution by providing a varied menu of daily meals. The meals can be chosen by the consumers based on their dietary and other needs. The chefs at Feast & Fettle prepare the meals fresh and deliver it to the consumers. The food just needs to be reheated and consumed. The orders are placed in advance and the family does not have to worry about eating healthy every day.
The Founder
Feast & Fettle was founded by Margaret Mulvena in 2016. She comes with experience working as a private chef for wealthy families and decided to become an entrepreneur and provide this same level of service to a broader audience. Carlos Ventura, the CEO brings with him years of management consulting experience and business expertise. We recently sat down with him to learn more about the business. Check it out HERE.
Growth
Feast & Fettle has a customer retention rate of 40%. It generated revenue of $231,000 in 2017, which was a 144% increase from 2016. In the second quarter of 2018, the company generated revenue of $107,000.
What is it
Avoke offers the first-ever packaged avocado smoothie bowl that can be used as an easy grab-and-go snack. The company targets the healthy snacks market.
The Problem
There is high demand and lack of supply of healthy grab-and-go snack options. Consumers are on the lookout for organic, fresh, nutritious, packed, non-processed snacks.
The Solution
Avoke came up with its packaged smoothie bowl that addresses the need for healthy, nutritious and packed snacks. The smoothie bowl is made up of fresh and wholesome fruits and vegetables and comes with a topping of toasted quinoa. The products are also gluten-free and vegan.
The Founders
Avoke was founded by Leah Nussbaum and Esther Bernstein. Leah has always been passionate about positively impacting people’s lives and has been using the same recipes for her son. Esther, Leah’s sister, is a promoter of healthy living.
Growth
Avoke is capitalizing on the avocado trend, healthy grab and go trend, probiotic trend and vegan trend. It is targeting the healthy snack market that is valued at $21.1 billion and is projected to be valued at $32.8 billion in 2025.
What is it
KPOP Foods is a vibrant brand that promotes Korean food flavors through its products. The company aims to spread the Korean tastes and flavors in the United States. The products include KPOP Sauce and KPOP Sea Snacks.
The Problem
The Korean flavors are liked by the people in the United States, however, they are not easily accessible. They are only available in supermarkets that cater to Korean populations. Also, the products and flavors have not been marketed and distributed well.
The Solution
KPOP seized the opportunity to spread the Korean flavors across the US. The company captured the special Korean flavors, packaged them and distributed them through mainstream distribution channels. The products are making the Korean food products easily accessible to the consumers in the United States.
The Founders
KPOP Foods was founded by Theodore Lee and Mike Kim in 2017. Both are of Korean origin and have experienced a variety of cultures and cuisines.
Growth
The company has generated revenues of $80,000 since launching in September 2017. It has already raised more than $200,000 from crowdfunding investors, and the products are gaining more traction with US customers.
Moving forward, we will continue to dive into more of these organizations that we believe can be transformational in nature to the food-tech business.
If you have further questions regarding these businesses, be sure to let us know by sending us your questions to hello@kingscrowd.com
