Cauli Rice Returns to Crowdcube: Raises £400,000 Funding Target in Less Than a Week

London-based rice brand, Cauli Rice (also known asFullgreen Ltd.), launched its fourth equity crowdfunding campaign on Crowdcube earlier this week. Within a matter of days, the company’s initiative successfully secured its initial £400,000 funding target from more than 200 investors. The campaign comes less than a year and a half after Cauli Rice raised over £1 million. With this recent campaign, the company has captured more than £2.4 million in total through the UK funding portal.

As previously reported, Cauli Rice offers a low calorie and low GI rice replacement, with 80% fewer calories but with the same taste as white rice. The company explained its patented technology is designed to keep vegetables fresh for up to 12 months without preservatives or additives. It’s great for rice lovers looking to avoid the fattening calories. Cauli Rice also revealed:

Cauli Rice is the world’s first long-life, rice alternative made from cauliflower and protected by a global patent. It has up to 85% fewer calories than rice and counts as 1 of your 5 a day. It is ideal for people wanting to cut down on carbs to lose weight or to minimize risks of diabetes, coronary heart disease and obesity related illnesses.”

Cauli Rice also stated 1.2 million pouches were sold in during its first year, with listings in over 2800 supermarkets. It also considers itself the fourth largest growth in the rice category. The company noted it has received various awards, including The Grocer’s “Product Launch of the Year” for Rice, Pasta & Noodles beating market leaders Uncle Ben’s and Tilda; “Top 3 UK Startups” in Richard Branson’s business competition, Pitch to Rich; and named “British Food Pioneer” by DEFRA. Cauli Rice was also launched in Tescos, Waitrose, ASDA, Whole Foods Market and with wholesalers.

In regards to what the funds from the latest campaign will be used for, Cauli Rice added:

In 2017, we are targeting sales of £2.2 million (47% increase over the current year’s turnover) – we also aim to launch 2 new product ranges: Vegi Rice and ready meals, as well as new Cauli Rice flavours. And we will begin exporting to the USA and other key countries. Funds raised will be used to finance our growth plans. Cauli Rice could exit through acquisition or share buy back – depending on what the best opportunities are at the time.”

The initiative is set to close mid-March.

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