Renewal Mill has launched an equity crowdfunding campaign to raise $1 million to expand its product offerings, reports The Spoon. Renewal Mill’s flagship product, okara flour, is made from soybean pulp leftover from soymilk processing. The company also plans to use funds to launch its second ingredient product, oat flour, made with leftovers from oat milk processing, and expand its upcycled baking mixes.
In an email sent to The Spoon, Caroline Cotto, co-founder and COO of Renewal Mill, said that the company could have received the funding as part of its initial seed round, but decided against it in order to retain ownership of the company. Cotto said the crowdfunding campaign will help diversify the company’s ownership and is a great marketing opportunity as it works to expand nationally. Full Story
Related: Drizly Closes $50 Million Funding Round; Homemade Food Marketplace Raises $8.8 Million.
Photo credit: Renewal Mill
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