Cauli Rice, under its brand name Fullgreen, is set to close its latest equity crowdfunding campaign on Crowdcube with nearly £700,000 in funding. The funding round was launched late June and quickly secured its initial £600,000 funding target. The campaign has also attracted more than 450 investors.
As previously reported,Cauli Rice rebranded to Fullgreen in October 2017 and expanded its offering to include other low-carb, veg-based rice alternatives, which were scheduled for launch by November 2017 in both the UK and USA in major retailers including Kroger stores, Wegmans and Walmart.
“In 2019 our $4.5 million US production line was switched on. Our US manufacturer is committed to continually grow production capacity to support our nationwide expansion; shoulder cost of goods (purchasing materials as far as 6 months ahead); and provide us with 45 day payment terms (allowing us to be paid before paying our suppliers) – minimizing working capital requirements for a big US launch.”
Fullgreen is currently planning to introduce two new products using its patented technology and machinery:
- Riced&Co are rich, creamy, and 100% vegan cauli risottos. The packs are ready to eat, full meal products that offer increased convenience and taste versus the basic riced cauliflower range.
- A plant-based breakfast innovation to break into the high-carb high-sugar £10 billion breakfast category. Nutritious, 100% plant-based, dairy-free and grain-free with less than half the calories and carbs of other breakfast products, and also count as 2 of 5 a day.
Funds from the latest Crowdcube round will be used to continue the growth and development of the Fullgreen’s products. The campaign is now set to close on June 5th.
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