Really Good Boxed Wine, a beverage startup – just like its name, is seeking to raise up to $1.8 million in Seed funding on SeedInvest.
According to the offering page, Really Good Boxed Wine is raising preferred equity at a pre-money valuation of $6.7 million. The offering is a side by side, Reg CF – Reg D. This means accredited investors may back the company with as much as they want under Reg D while non-accredied investors can participate under Reg CF.
As it stands today, the company has raised $1.148 million from investors with just a few days left in the offering. Previously, the company raised $310,000 in pre-seed funding in a SAFE with a valuation cap of $3 million.
Really Good Boxed Wine is aiming to provide higher quality wine in a box – thus providing wine at a lower price point. People spend a lot of money on wine, but a good portion of the cost is in the bottle, labeling, and the cork (or screw top). The startup notes that the cost of glass and cork is 10x more than the box. Additionally, once you open a bottle of wine it starts to change after a day or two. Boxed wine maintains its freshness longer, catering to today’s lifestyles as most people buy wine and then drink it immediately (or over the next few days). Really Good Boxed Wine is said to remain fresh for up to 6 weeks after opening.
The company claims that its product sells for 40% to 60% less than it would cost in a bottle.
The company launched this past January and has generated some revenue but it is still very much a startup. Additional information is available on SeedInvest. The offering memorandum is available here.
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