Direct-to-consumer children’s snack company Chewy Moon has reached out to the crowd for a cash injection to fund a move into retail stores.
Chewy Moon, which delivers Graze-like boxes containing healthy children’s snacks, said it was in conversation with a major UK supermarket as it seeks to expand into stores.
A Crowdcube campaign was launched this week to raise £250k, offering potential investors a 9.26% equity on a £2.45m valuation.
The subscription service delivers weekly or fortnightly boxes containing a number of “all-natural” snacks suitable for lunchboxes.
It is seeking cash to pump into recruitment, NPD and listings, as the founders seek to follow Graze’s lead and move into retail stores.
“Since our official launch in January 2018, sales have exploded as we grew revenue eight-fold,” said CEO and co-founder Lijo Jose.
Chewy Moon raised more than £200k, double its initial target, in its first crowdfund campaign in June 2017.
In the six months to 30 June 2018, the number of snack orders increased 400%, to over 25,000. It expects revenues “close to £400k” in 2018.
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