MIAMI — Master Foods Lab, a contract manufacturer focused on functional snacks, is raising money to increase its factory footprint, add machinery and expand the team. The company has launched an equity crowdfunding campaign on the platform StartEngine with a maximum offering of $1.07 million on a pre-money valuation of $10 million.
Founded in 2020, Master Foods Lab produces gluten-free, low-sugar, high-protein and plant-based items, including cookies, brownies, cupcakes, muffins and spreads for emerging brands. The company offers low minimum order quantities (starting at 5,000 units), custom recipe research and development, and key connections in the health and wellness industry. Founder and chief executive officer Michael Alfaro previously led fitness-related businesses.
“Over the past 15 months we were able to launch multiple products, build a diversified portfolio across multiple brands, and experience month-over-month sales growth,” Mr. Alfaro said. “As we look to our next round of funding, I want to not only engage with accredited and non-accredited investors, but more importantly engage with investors that believe in our mission to replace unhealthy snacks across the world for the brands of tomorrow.”
Master Foods Lab has quickly outgrown its current production capacity and plans to invest in equipment and automation to increase daily output and reduce costs.
“When we launched in 2021, we started with one brand averaging 3,000 units produced per day,” Mr. Alfaro said. “Within four months, we had onboarded two new brands, increasing our monthly sales and increasing our daily output to 7,500 units. In the last 12 months, we’ve grown by over 230+%, from $20,000 revenue in month one to close to $200,000 in our highest months.”Investors may learn more at startengine.com/master-foods-lab.