Lettuce is creating sustainable, hyper-local, technology-enabled food ecosystems in urban areas that turn unused urban land and resources into productive farms, package the output into healthy, delicious and convenient products, and deliver them to homes in zero-waste containers, all while increasing awareness and engagement around nutritious, local food. Our evolving social, local, commerce technology platform is connecting and empowering local food participants including growers, artisans, and consumers to do what they do well, with online tools, support, delivery, logistics, content, marketing and community engagement.Our mission is to bring local, sustainable, nutritious food to the urban/suburban mainstream, by removing the major barriers of awareness, accessibility and affordability. [Read More]
A convertible security is a security that can be converted into another security. Convertible securities may be convertible bonds or preferred stocks that pay regular interest and can be converted into shares of common stock (sometimes conditioned on the stock price appreciating to a predetermined level).
Debt and Equity Opportunity
January 04, 2019
April 05, 2019
Intermediary Fees: 6%
Marketing: 40% - 15%
Working Capital: 14% - 0%
Operations: 0% - 20%
Inventory: 0% - 19%
Yogesh Sharma - Co-founder & CEO
A career entrepreneur, Yogesh has 20+ year of entrepreneurial experience building companies in Austin, Silicon Valley, New York and India. He has lead organizations with 100s of employees and millions in revenue in media, technology and marketing industries. Yogesh grew up in a foodie environment with his Mom growing and cooking food in an intensely urban environment in Delhi, India. He has 8 years of experience growing food in his own front and backyards in San Francisco and Austin. The last 3 years building Lettuce have been the most humbling, and intensely satisfying years of his career - working to create a new paradigm, with a team of mission-driven individuals.
Hal Roberts - Co-founder & General Manager, Lettuce GrowShare
Native Texan, self starter, and young entrepreneur, Hal Roberts believes in hard work and dedication towards evolving the way our society views and produces food. Hal never shirks at a challenge or a grand learning opportunity. Hal was raised in San Antonio, Texas as the 7th child in a family of 8 kids, where his early interest in urban farming and sustainability began to take root. Hal has been growing food for most of his life, but his true passion for urban farming began 5 years ago. He fervently works towards a community where farming is commonplace and widely practiced, inspiring a green thumb in anyone he meets.
Ved Prakash - Co-founder & General Manager, Lettuce LocOS
A consummate engineer and entrepreneur, Ved has over 20 years of software development experience in India and the US and manages Lettuce’s technology development effort, based in Mysore, India. He has built several large scale software products, Web apps, mobile apps and more, while training and managing large teams of engineers and product managers. He is also a passionate cook intrigued by the science of how ingredients come together to create distinct flavors and nutritional benefits. Lettuce enabled him to bring his passions for food and computing together to help create a new technology-enabled paradigm in the food industry.
Type of Equity Converted Into: Series Seed - 1 Preferred Stock
Discount Rate: 20.0%
Annual Interest Rate: 5.0%