United States · Palo Alto, CA, USA · San Francisco, CA, USA · Kansas City, MO, USA
Administrative Services · Food
1 - 10 employees
Planetarians is inverting animal agriculture to reverse climate change Many good companies try to reverse climate change by making alternative meat. They all fail short of price parity with animal meat because of expensive ingredients and/or equipment. Understanding that customers are price-sensitive first and conscious second - Planetarians built its solution on animals' super power - cheap feed. By making meat from animal feed, Planetarians made it cheap (compare $300/ton of animal feed with $3,000/ton of protein isolates) and carbon negative! LCA shows 50x lower carbon emissions than animals and 9x lower than any other plant-based meat. It took 7 years, but thanks to continuous support of Techstars, SOSV, Barilla and AB InBev, Planetarians team of protein chemists, chemical engineers, and chefs: - developed and patented technology, - launched a pilot plant to prove COGS and CapEx, and - proved product-market fit with repeat purchases in 4 billion dollar channels. With a 72% approval rate from students of all ages and being able to match $2 school lunches with a 50%+ margin, Planetarians found and is scaling on the $20B beachhead U.S. school lunch market. If it goes as it goes, Planetarians will reverse not only the $1 trillion meat market but disrupt the whole animal agriculture built on the utilization of by-products. -------------------- Current state --------------------------- We have received the 2nd order from Contra Costa Unified School District!! And we observe the same acceleration across the pipeline with 13 strong leads. As we did not expect the sales to ramp up so quickly, we may face a cash crunch by mid-June while executing those orders. The aggregated volume of pilot orders is expected to be $190k this Summer with the aggregated volume of follow-on annual orders ranging from $1.8m to $7m, expected by September, with a follow-on expansion opportunity of an additional $16m in 2024. Although we are going through due diligence with a few large investors (as you know, we already got $350k and ramping it up to $1m), we feel that it may take longer for them to go through all the internal bureaucracies. This is why we're opening a Bridge Round to reach breakeven in September. We need your support to cover the cash crunch with $1-2m to execute the orders, convert them into annual contracts, and extend the runway in order to raise from the new investors without going through much dilution. The breakdown of the use of bridge proceeds: $300k CapEx for portioning, cooking, packaging $200k Working capital to execute orders on 45 days NET $500k Burn rate while we're reaching breakeven $1m Buffer (safety net) We are accepting term-sheets for this opportunity in the coming 2 weeks and would go with one that will fit our needs and circumstances the best.
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