Company Overview & Business Model
Problem Addressed: The "dairy-free" ice cream market has been dominated by low quality ingredients, including refined sugars and chemical stabilizers. Emphasis on low calorie count has resulted in products that are packed with chemicals, fillers, and fake sugars. They taste worse than dairy and aren't even healthy for you.
The Product: Sunscoop is an easy to digest plant-based ice cream made with organic coconut cream and infused with superfood ingredients. Sunscoop is made from organic coconut cream and superfoods, with no refined sugar or top allergens. According to the founder, it tooks over three years to perfect their unique formulation - partnering with top food scientists to create a texture and flavor superior to dairy. The result is a proprietary, allergen-friendly coconut cream base, with unrivaled taste, texture, and nutritional benefits.
Customers: The company's primary customers are health-conscious consumers who are looking for great tasting ice cream. Of course, the product could appeal to both plant-based food consumers and all ice cream consumers. In addition, many of Sunscoop's customers are seeking allergen-friendly products because the company's icecream doesn't have the major allergens dairy, wheat/gluten, eggs, fish, soy and peanuts.
Sunscoop Business Structure
- Form: Corporation
- Jurisdiction of Incorporation/Organization: Delaware
- Date of organization: May 1, 2017
The Deal Terms
- Security: Crowd SAFE
- Valuation Cap: $9,000,000
- Discount Rate: 10%
- Min. Offering Amount: $25,000
- Max. Offering Amount: $1,070,000
- Min. Investment: $150
Carli Blum is the Founder and CEO of the Company. She is a passionate entrepreneur and creative force. Prior to founding the Company, Carli was the co-founder of a fashion industry app and has extensive experience in the fashion industry
Employees: The company currently employs 4 employees.
Sunscoop Cap Table
The table below lists the beneficial owners of twenty percent (20%) or more of the Company’s outstanding voting equity securities, calculated on the basis of voting power:
The markets in which the company operates are highly competitive. Sunscoop competes against similar products of many large and small companies, including well-known global competitors. There are several national ice cream brands with plant-based offerings, including So Delicious, Coconut Bliss, Nada Moo, Van Leeuwen. Sunscoop's closest competitors are Van Leeuween and Nada Moo.
According to the founder, it tooks over three years to perfect their unique formulation - partnering with top food scientists to create a texture and flavor superior to dairy. The result is a proprietary, allergen-friendly coconut cream base, with unrivaled taste, texture, and nutritional benefits.
How will Sunscoop Use The Funds Raised On Republic?
Intermediary Fee: This fee will be paid directly to the intermediary for assisting in conducting this Offering.
Sales and Marketing: These proceeds will be used to acquire new customers through in-store and online promotional pricing, digital advertising, field marketing event activations, and sponsorship of marketing events and partnerships.
Staffing: These proceeds will be used for key senior and junior hires in sales, marketing and operations. Assuming the Company raises the Maximum Offering Amount, the Company intends to hire between 2-4 full-time salespeople and 1-3 full time marketing employees.
Research and Development: These proceeds will be used for Internal R&D, as well as working with outside firms and labs to continue to innovate with new products.
The Company has the following debt outstanding:
Financials & Liquidity
As of February 2, 2021, the Company had an aggregate of$ 95,300 in cash and cash equivalents, leaving the Company with approximately 3 months of runway.
Conclusion: Did I Invest?
I’m still in the process of writing a full deal report and decide whether or not I will invest in Sunscoop. I will send my final investment decision on Saturday to subscribers of the Angel Notes newsletter (you can join through the form below). See you soon!