Using regeneratively grown, ocean-farmed kelp as the primary ingredient, the company launched three initial food lines of Kelp Jerky, Kelp Pasta and most recently, the Kelp Burgers. Akua's vision is to create an entire platform of meatalternative products made from ocean-farmed kelp that are sold online, in retail, and through food service and restaurants.
The company currently sells its jerky products across it’s own domain (akua.co) Thrive Market, Amazon and through retail distribution channels.
Akua Business Structure
- Form: Benefit Corporation
- Jurisdiction of Incorporation/Organization: Delaware
- Date of organization: December 30, 2016
The Deal Terms
- Security: Crowd SAFE
- Valuation Cap: $7,000,000
- Discount Rate: 20%
- Min. Offering Amount: $25,000
- Max. Offering Amount: $1,070,000
- Min. Investment: $100
The company's key competitors include emerging seaweed brands (e.g. Atlantic Sea Farms), plant-based meat brands (e.g. No Evil Foods, Field Roast, Beyond Meat, Impossible Foods), and plant-based seafood brands (e.g. Good Catch).
How will Akua Use The Funds Raised On Republic?
- Operations Support The company plans to use these proceeds to support their cold chain delivery processes.
- Branded Packaging The company plans to use these proceeds for Branded Packaging for Burgers with a goal of environmentally friendly packaging.
- Initial Ingredient Costs The company plans to use these proceeds to source their large scale buy of product in order to improve overall cost.
- Marketing The company plans to use these proceeds to launch their online marketing campaigns.
Courtney Boyd Meyers (CEO, CMO) is an entrepreneur, environmentalist, and writer. Prior to launching AKUA, she helped build the Summit Community, a global network of founders, creatives, and innovators. Previously, she helped market companies such as Four Sigmatic and Unframed Ice Cream. She began her career as a journalist at Forbes Magazine and The Next Web and has been recognized as one of Fast Company’s Most Creative People in Business.
Matt Lebo (CFO, COO) focuses on R&D, production, and finance. Prior to co-founding AKUA, Matt worked in various roles including Investor Relations, Equity Research and Management Consulting. He has also consulted for several start up food companies, helping across various functions in production, operations and finance.
Employees: The Company currently employs 3 employees.
The company doesn't have any outstanding debt, except for $555,366 worth of convertible notes.