Hooray! Not only is this celebratory exclamation the name of a burgeoning plant-based brand set to improve the world’s food system, but it’s the sound of upcoming success signaled by a strategic funding round. Hooray Foods has announced the launch of an equity crowdfunding campaign, allowing its supporters to invest in the company for as little as $100 in exchange for company equity and product perks.
“We’re happy to invite our community to join us on the march toward a better food system,” said Hooray Foods Founder and Chief Executive Officer Sri Artham. “This is also a rare business opportunity as the plant-based bacon market has massive potential but there are no publicly-traded companies in the space. Additionally, our bacon has great margins, our sales have been on the rise, and we have a clear plan to being a profitable company by the end of this year, all of which create a path to an excellent return on investment.”
In the past two years, Hooray Foods has seen significant growth, selling in more than 1,000 grocery stores—including Whole Foods Market nationwide—while also growing its presence in restaurants. The supplier utilizes a scalable and patent-protected technology to create plant-based bacon that sizzles and tastes like traditional pork bacon, a press release explained.
Hooray Foods’ goal is to secure $500,000 in this Community Round, which will allow the company to expand its Hooray Bacon's distribution and further research and development to bring more plant-based meats to market.
The plant-based market has immense potential, as it is currently valued at $6 billion in the United States alone and $55 billion worldwide.
How will this strategic funding round bring a boost to this booming brand? Deli Market News will surely be here to report.