Mellow

Mellow

A sous-vide machine that will cook your meals without the need of you being there to cook it.

Print
Security Type
Crowd Note
Categories
Other
Min Investment
$1,000
Location
Miami Beach, FL
Offering Date
May 23, 2020
Expected Close Date
August 21, 2020
Target Raise
$500.00K-$1.07M
Deal Notes

Round type: Seed Round size: US $1,070,000 Minimum investment: US $1,000 Target Minimum: US $500,000 Raised to date: US $500,000 US $0 (under Reg CF only) Security Type: Crowd Note Conversion discount: 20.0% Interest rate: 5.0% Note term: 18 months

Company Description

A sous-vide machine that will cook your meals without the need of you being there to cook it.We all have busy lives and when it's time to eat we are often too exhausted to face the kitchen to prepare a meal. Mellow helps you craft chef-worthy meals by cooking ingredients to perfection, ready exactly when you want them. Mellow cooks using a technique called sous vide. This technique is commonly used in high-end restaurants and known for its incredible and consistent results, as well as being one of the healthiest ways to cook. Sous vide assures you that whatever you are cooking is going to be done to perfection, your ingredients will be cooked to your chosen doneness without undercooking or overcooking it. How is that done? It's as easy as dropping a bag with your ingredients in Mellow, grabbing your phone and saying what you want to cook, how you want it cooked, and when you want it ready. Mellow not only allows the users to cook their ingredients but also to set them to cook ahead of time with its cooling capabilities. At the end of 2017 Mellow launched its first-generation product called Mellow and now, with thousands of units in the market, and after all the feedback and support of our community, we are ready to grow and take our product to the next level with Mellow Duo, because what can be better than having a perfectly cooked steak when you get home? It's having a perfectly cooked side dish to go with it! Mellow Duo will be a modular machine. It will come with two water reservoir configurations. Two small tanks that will allow you to cook your main ingredient and side dish simultaneously. And a large one with a bigger capacity so you can cook up to fourteen portions, allowing you to cook for a crowd or simply cook bigger cuts of meat.Our goal is to also grow as a meal delivery company allowing our users to buy packed and seasoned ingredients ready to be dropped inside of Mellow.

Key Deal Facts

Over 6,400 Mellow V1 units have been activated, with the average household using it to cook 1.7+ times per week
Mellow completed a successful Kickstarter campaign in December 2019 to launch its 2nd generation product, Mellow Duo, raising over $200,000
Mellow’s IP portfolio includes US and international patents for the Sous Vide cooking device, including its differentiating cooling system
Mellow is advised by a seasoned food tech pioneer who grew his meal delivery business to over $24,000,000 in annual revenue with a successful exit

Use of Proceeds

Product Development: 35 - 40%

Marketing and Sales: 20 - 30%

Mello Meal Kit Development: 10%

Industrialisation: 15 - 20%

Operations: 10%

Management Team / Advisory Board Bios

Vanessa Domingues - CEO
Paulo Fonesca - UX Designer/UI
Ana Martins - Developer
Filipe Leonor - Chef & Food Science Expert
Dini Klein - Brand Ambassador

Deal Notes

Round type: Seed Round size: US $1,070,000 Minimum investment: US $1,000 Target Minimum: US $500,000 Raised to date: US $500,000 US $0 (under Reg CF only) Security Type: Crowd Note Conversion discount: 20.0% Interest rate: 5.0% Note term: 18 months

Amount Raised : $515,200
Reveal the Score by Voting
_
Additional ratings from other users are needed to determine a viable CrowdScore for this deal.
The "CrowdScore" for this deal is determined by user ratings and other factors using our proprietary algorithm.
The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
The experience of the management team in running, scaling and/or exiting a business that required similar skills to execute the business plan.
Management Team
The value of the company compared to similar companies raising money from investors.
Valuation

Security Description

A Crowd Note modifies the typical convertible note so that the crowd does not automatically convert to equity shareholders on the next financing and remain off the issuer’s capitalization table, but the crowd will still participate in any exit as if they had converted to equity. If there is no future financing, the holders of the Crowd Note still have upside, but could miss out significantly.

Research Reports

No reports have been submitted

Become a Reporter

0 Comments