Farmstand, a UK-based plant-powered cloud caterer, has successfully raised its £750,000 equity crowdfunding target through its Seedrs campaign.
Founded in 2016, Farmstand stated it is on a mission to feed the world plants. The company wants to reinvent the way people eat in canteens and out markets. Here’s how Farmstand works:
- First, Farmstand cooks its plant-powered food in our central kitchen. We only need one per city.
- Second, Farmstand delivers it to canteens and outdoor markets.
- Third, the canteens and markets then sell it to customers through Farmstand-branded concessions staffed by their teams.
- Fourth, customers can also pre-order, pay, and pick-up through the Farmstand app.
Farmstand further explained:
“We only use ethical suppliers. We’ve never had any landfill waste. Our entire team are owners. And all are paid at least the London Living Wage. Half of our Board of Directors are also women. We believe in Conscience Capitalism.”
Farmstand also noted it generates revenue and a gross margin on all its food. The company receives franchise fees for its brand and licensing fees for its app. Farmland then paid by the canteen, outdoor market, or the customer directly through the Farmstand app. Funds from the Seedrs round will be used to continue the growth and development of the Farmstand platform. The campaign is set to close mid-September.
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