Food & Bev
SquarEat
Foodtech company building 100% ready-to-eat subscription meal concept
Miami Beach,
FL
Investment type:
Equity
(SAFE)
Target raise:
$100,000
- $1,000,000
Minimum investment:
100
100
End date:
Nov 12, 2021
Nov 12, 2021
ended
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Highlights
- 100% natural, ready-to-eat, long lasting, nutritionally balanced… and tasty!
- The healthy prepared food delivery market is fragmented, growing at a 12% CAGR, and will hit $3bn
- Highly scalable: streamlined cooking and storage, 3 weeks conservation, allows for fewer deliveries
- Only 135 subscriptions estimated to breakeven, $207k already raised, new funding only to grow faster
Our Story
Uses proprietary cooking techniques to transform any kind of natural ingredient in pre-cooked and/or ready to eat squares that can be eaten directly from the fridge, microwaved, boiled, warmed (pan or oven). Thanks to our proprietary process the squares last up to 3 weeks in the fridge (no additives/loss in nutritional values). We plan to launch a meal-plan service targeting initially the fitness/health conscious consumers, and then expand further to other segments and via additional channels.
Our Ambition
$41mn revenues serving ~7,800 active subscriptions and ~85 gyms in 5 years. Plan to launch: Miami 2021, New York 2022, and Los Angeles 2023, for a total of 6 operational laboratories. Our estimates are not including additional and relevant consumption methods (pay-as-you-go / compose your box) and channels (supermarket, vending machines etc.). Additional funding (not included in the plan) can materially speed up expansion to other US cities and to Europe. These projections are not guaranteed.