Upright

Instant oatmilk as nutritious as dairy—just add water!

Analytics

Raised to Date: $217,204

Aggregate Commitments $
Platform

Republic

Start Date

04/09/2021

Close Date

08/20/2021

Min. Goal

$25,000

Max. Goal

$1,070,000

Min. Investment

$100

Security Type

SAFE

Funding Type

RegCF

Series

Pre-Seed

Valuation Cap

$5,000,000

Discount Rate

20%

Rolling Commitments $
Status

Active

Reporting Date

06/09/2021

Days Remaining

69

% of Min. Goal

869%

% of Max. Goal

20%

Likelihood of Max
unlikely
Avg. Daily Raise

$3,561

# of Investors

488

Momentum
warm
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Location

Branford, Connecticut

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2B/B2C

Margin

High

Capital Intensity

High

Business Type

Life Style

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

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