Cauliflower rice start-up scoops £1m from the crowd
Richard Branson-backed Cauli Rice will use Crowdcube funding to "take a chunk of £437m UK rice market"
Cauli Rice, a specialist in cauliflower rice sachets, has more than doubled its initial £500,000 target on Crowdcube as it closed its third campaign on the crowdfunding site.
Recently awarded by Sir Richard Branson as one of Britain’s hottest new food start-ups, Cauli Rice raised a total of £1,053,800 from 596 investors in exchange of 14.94% equity. The largest single sum was £150,000.
Founded by Gem Misa, Cauli Rice is a low calorie cauliflower-based rice alternative that comes in a range of flavours including Mediterranean, lemongrass and chilli.
As well as launching in Tesco, Waitrose and Asda, the ready-to-eat product has found favour with body builders and personal trainers on social media.
The funding will help Cauli Rice take a bite out of the UK’s estimated £437m rice market as consumers increasingly turn towards healthier options, and accelerate growth in the ready meals market and overseas.