BeetNPath has developed and is selling "proats", a line of healthy, convenient, frozen heat & eat meals made from organic steel cut oats. Proats are made using a trade-secret manufacturing process which has been scaled at a commercial manufacturing facility and results in a risotto-like consistency. Proats are positioned in the natural/organic category within the $9 billion frozen-ready meals segment in the United States. The natural/organic category is growing at 11.5% annually, more than 8x the growth of the overall frozen-ready meals segment. The product has had successful pilot launches in supermarkets and stores in the Ithaca, NY area.
Management consists of a Kensa Group partner on entrepreneurial leave with over 10 years of experience developing early stage companies, a graduate of the Culinary Institute of America and Cornell University's School of Hotel Administration with over 25 years in the food industry and board members with division management experience at partner companies for food manufacturing, distribution and design.
The company received initial funding of $140,000 equity and $200,000 debt from founders and is seeking $250,000-$400,000 to complete packaging design and USDA label approval and to bring proats savory entrées to market on a regional scale.
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