With less than 48 hours until its fourth equity crowdfunding campaign on Crowdcube comes to an end, Cauli Rice (also known as Fullgreen Ltd.) has successfully secured nearly £1.3 million from more than 900 investors. The company launched the initiative earlier this month and quickly surpassed its initial £400,000 funding target.
The company describes itself as a low calorie and low GI rice replacement, with 80% fewer calories but with the same taste as white rice. The Cauli Rice team also explained their patented technology is designed to keep vegetables fresh for up to 12 months without preservatives or additives.
“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 noted that 1.2 million of its pouches were sold during its first year and is listed in more than 2800 supermarkets. The company has also received various awards such as 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. Originally set to close mid-March, the company recently announced that it has decided to close the latest Crowdcube early and shared:
“We want to thank everyone for the unbelievable support we’ve received. We’re SO excited about the opportunity to grow Fullgreen to an even bigger business thanks to all your help. On this note, we would like to announce that we will be ending our pitch this coming Wednesday at midnight. We’ll be sending out an investor newsletter soon closing to explain the next steps of the process (legal bits, sending out share & EIS certificates etc). To all our new investors, welcome to the team!”
Funds from the fourth Crowdcube campaign will be used to launch two new product ranges and begin to export to the U.S along with other key countries.
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