Mama Gaia

Your AI-Powered Smart Fridge

Mama Gaia

Your AI-Powered Smart Fridge

Denver, CO
Food & Beverage
Mama Gaia is a Denver-based company that builds AI-powered, app-enabled, self-service smart fridges. These fridges are built for apartment complexes, hospitals, and universities. The food stocked in each machine is locally-sourced, healthy, and grab-and-go. Mama Gaia provides high quality food choices that can be unlocked with a smartphone and a QR code for easy access, making the lives of consumers and businesses just that much easier.

$72,240

raised
29
Investors
$7.02M
Valuation
$1.51
Price per Share
$247.64
Min. Investment
Preferred
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
Reg CF
Offering

$72,240

raised
29
Investors
$7.02M
Valuation
$1.51
Price per Share
$247.64
Min. Investment
Preferred
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
Reg CF
Offering

Rewards

Get rewarded for investing more into Mama Gaia:

$248+
Investment
StartEngine Owner’s Bonus
This offering is eligible for the StartEngine Owner’s 10% Bonus program. For details on this program, please see the Offering Summary section below.
Early Bird Bonus
Invest within the first two weeks and receive an additional 5% bonus shares
3
days
10
hours
26
mins
4
secs
$500+
Investment
$500+
50% off your first purchase at Mama Gaia
$1,000+
Investment
$1,000+
50% off your purchase from Mama Gaia, 5 times
$2,500+
Investment
$2,500+
50% off your purchase from Mama Gaia, 10 times
$5,000+
Investment
$5,000+
50% off your purchase from Mama Gaia, 25 times
$10,000+
Investment
$10,000+
50% off your Mama Gaia purchases, 50 times PLUS 5% bonus shares

REASONS TO INVEST


  • Huge market: The vending machine market is estimated to be a $36.5 billion industry in the U.S., and projected to grow by $9.82 billion from 2020-2025, accelerating market growth at a CAGR over 22%.

  • Patent-pending technology: Support the latest in AI cashierless retail technology. Mama Gaia builds smart fridges that use AI to detect inventory.

  • Built on data and revenue optimization: Invest in a company that is data-driven. Mama Gaia uses predictive analytics to determine consumer spending and understand what products will sell best on a given day.

Overview


Smart fridges stocked with healthy grab-and-go options

Mama Gaia is helping local businesses retain their customers by offering a place for food sales without the need for an onsite kitchen, as building an onsite kitchen is a massive expense that can cost up to $450K. The branded vending machines are stocked with high-quality food that can easily be accessed with an app and a QR code. Mama Gaia is supporting the local food industry in Colorado while also committing to being zero waste. Any food leftover in the smart fridges are donated to local food banks.

The Problem


Businesses and consumers need contactless food options

The demand for accessible food is increasing, especially due to the social distancing measures of COVID. We believe this trend will continue post-COVID, as people are always looking for high quality food that doesn't take a step out of their day. Consumers are seeking out contactless food delivery, and businesses are struggling to serve the growing demand for amenities. Businesses need new ways to deliver their food to consumers rather than just relying on delivery.

The Solution


Cashierless retail technology

Mama Gaia is building self-service smart fridges to bring food options directly to consumers. The fridges are currently set up in apartment complexes across the Denver metro area. Each fridge is AI-powered and app-enabled to provide consumers with easy access to high quality, grab-and-go food. 

The AI relies on image-based item recognition technology, which means that no barcodes are needed. The food is restocked daily based on predictive algorithms to improve stock selections for consumers. Businesses can sell their grab-and-go food and beverage products without employees, making food delivery an easier, more accessible process.

The Market


Vending machines are on the rise

The vending machine market in the U.S. is estimated to be a $36.5 billion industry, and projected to grow significantly over the next few years. Between 2020-2025, the market is projected to grow by $9.82 billion, accelerating market growth at a CAGR over 22%. By 2027, the global vending machines market is targeted to reach a whopping $146.6 billion. Another factor in our market is consumer convenience. Currently, 69% of out-of-home eating is spent at quick-service options.

With these factors in mind, our current target market is apartment complexes in the Denver metro area. The US currently has an estimated 2 million vending machines in operation; with $7.4 billion in vending machine market revenue, we expect to reach $3,700 per unit per year.

Our Traction


Noteworthy customers and provisional patent submitted

Our company has a fast track record of development, with clear progress every year. We went from testing the concept in May of 2018 to ideating the smart fridge technology for Mama Gaia in 2019. Two years after launching Mama Gaia, we were accepted into the Food Food Co. Accelerator Spring 2020 Cohort. By 2020 we had also submitted a Provisional Patent, built our App for iOS and Android, and had AI for our fridges built with 75 products trained and ready. We launched our Beta in March 2021 and have paying customers and daily users. 

We have a growing list of customers using our smart fridges. Additionally, we have numerous businesses interested in installations.

What We Do›


Seamless transactions through AI technology

We build high-end smart fridges that are designed with businesses and consumers in mind. The fridges are stocked with locally sourced, ready-to-go food and beverages in highly trafficked areas such as apartment complexes and universities. Each fridge is built using AI technology to allow for quick transactions and intelligent inventory management.

Customers download the Mama Gaia user app where they can view fridge inventory, scan the item QR code, and unlock the fridges to grab their items with minimal contact. Once users grab their items from the fridge, they will receive an itemized receipt in their email address and a notification on the app confirming their purchase. The full end-to-end transaction can take as little as 10 seconds.

The app allows customers to review past purchases and view fridges by location. On the backend, admins can track sales data against metrics to determine how to manage fridge inventory. Additionally, vendors have their own interface where they can track their unique sales data and receive customer feedback to see how their food and beverage products are selling.

The Business Model


Sales, advertising, and subscriptions

We currently have three sources of revenue: food sales, vendor advertising, and business subscriptions. Our projected annual revenue per fridge is $9,053, with the development cost per fridge at $1,500 per fridge, and repair and maintenance at $100 per fridge per month. On the Mama Gaia app, we charge $1.00 per ad. Our Retail-as-a-Service monthly subscription fee is $200 per month. Our initial rollout is 100 smart fridges. Our plan is to add 15 new fridges per month in the first three years, 30 fridges per month in the fourth year, and 60 fridges per month in the fifth year.

FUTURE OPPortunity


Franchise model to scale nationwide

In Phase 2 of our business model, we see an opportunity for meal kit companies nationwide to franchise our technology. We would sell or lease meal kit companies or other retailers, large or small, our smart fridges branded with our logo to raise nationwide brand awareness. Additionally, we can adapt our technology to different environments such as mini fridges or larger controlled, cashier-less environments.

Once we reach our company goals, we plan to embark upon our exit strategy and sell Mama Gaia. We see this as a great opportunity for retailers, technology companies, and players in the smart fridge space.

How We Are Different


Tech-focused and niche-driven

While there are other smart fridges on the market, we cater towards a niche customer segment. We provide healthy grab-and-go food and drink options to consumers that care about healthy eating and supporting local. We work directly with local businesses and donate any leftovers to local food banks to keep supporting our communities.

Our direct competitors are Byte, Farmer’s Fridge, LeanBox, and ChowBotics, and our indirect competition is the delivery service industry. What sets us apart at Mama Gaia is that we are a tech company, not a food company. Our platform is designed for high customer retention through incentive practices.  We use predictive algorithms and revenue optimization to understand what will sell best in each of our fridges, and provide our food partners with the same robust analytics to improve their sales as well. As we scale, we’ll focus on tech-enabled cashierless retail, which will allow our food competitors to become our enterprise partners.

The Vision


Supporting local businesses and scaling up

Being mission-driven, a big part of our company is to source locally. We want to help rebuild our food system by putting local, small businesses at the forefront of the food industry again. Our current food system supply chain is broken – shelves were empty at the beginning of COVID as stores couldn’t stock food fast enough to meet consumer demand. By building a business model around local food, we are able to shorten the supply chain from farm to fork. This will help save emissions, produce less waste, provide more nutritional food, and financially support local communities.

On a financial level, our goal is to scale the businesses aggressively in the Denver/Boulder Colorado area in the next year, and begin franchising nationwide to large and small food companies who want to expand their reach. Our second phase in late 2021 will be to market our smart fridges to offices, breweries, and gyms. 


Next, we plan to use a franchise model to scale nationwide in 2022.


We will use the data and profit margins we collect to identify which cities we want to grow our investments. We see this expansion growing rapidly, with the potential to manage tens of thousands of franchised smart fridges across the country by 2025.

OUR LEADERSHIP


Mission-driven

Sarah Lynch founded Mama Gaia after seeing how local food vendors were struggling to be seen on crowded grocery shelves. She wanted to build a technology platform centered around supporting the local food industry and providing customers with easy access to seeing their local food options.

  • Sarah Lynch, Cofounder & CEO: Sarah is Mama Gaia’s Founder. She has demonstrated expertise in creative direction, marketing, sales, operational strategy, and leadership.

  • Giovanni Sudiro, CTO: Giovanni has over 15 years of development and technical leadership experience in designing, developing and implementing enterprise-class, scalable data management solutions.

  • Hayden Brink, Cofounder & Advisory board: Hayden is currently the President at Maia Growth Capital, serving as CFO for first exited investment, with over 5 years of experience in mergers & acquisitions and business valuation. He earned his BSBA in Finance from the University of Denver and previously worked as an Investment Banking Analyst.

  • Carolyn Ford, AI Specialist: Dr. Ford has a PhD in Electrical Engineering/Digital Signal Processing from the University of Colorado. Her industry experience includes adaptive learning systems, image and video processing.

Why Invest


We’re on a mission to support local businesses using data and technology

Mama Gaia is headed towards the future. In 10 years, AI cashierless retail technology will be the standard, and we are building a patent-pending solution. We are offering a healthy, fresh option for grab-and-go food which supports the local economy. Our smart fridges can help shift the food system supply chain back to supporting local businesses and circulating money locally. With our technology experience, we are data driven. You can trust us to leverage our AI and predictive analytics to understand what will sell best in our fridges to keep local businesses running.

THESE MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT.  WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,”“INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS.  INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.

In the Press

Specialty Food Association Magazine
January 1, 2017

A look at the events, issues, and innovations shaping specialty food, plus industry news, trends, and more.

BuiltInColorado
January 1, 2017

Mama Gaia Launches Its First Smart Fridge in Denver With Plans to Hire

Offering Summary


Company

:

Mama Gaia Smart Fridge Corporation

Corporate Address

:

1801 N Broadway Suite 516, Denver, CO 80202

Offering Minimum

:

$9,999.22

Offering Maximum

:

$1,069,998.08

Minimum Investment Amount

(per investor)

:

$247.64











Terms


Offering Type

:

Equity

Security Name

:

Preferred Stock

Minimum Number of Shares Offered

:

6,622

Maximum Number of Shares Offered

:

708,608

Price per Share

:

$1.51

Pre-Money Valuation

:

$7,019,549.08











*Maximum Number of Shares offered subject to adjustment for bonus shares. See Bonus info below.

Investment Incentives

Friends and Family Early Birds

Invest within the first 48 hours and receive additional 15% bonus shares

Super Early Bird Bonus

Invest within the first week and receive additional 10% bonus shares

Early Bird Bonus

Invest within the first two weeks and receive an additional 5% bonus shares

 

Amount-Based:

$500+

1st Perk Title

50% off your first purchase at Mama Gaia

 

$1,000+

2nd Perk Title

50% off your purchase from Mama Gaia, 5 times

 

$2,500+

3rd Perk Title

50% off your purchase from Mama Gaia, 10 times

 

$5,000+

4th Perk Title

50% off your purchase from Mama Gaia, 25 times

 

$10,000+

5th Perk Title

50% off your Mama Gaia purchases, 50 times 

PLUS 5% bonus shares

*All perks occur when the offering is completed.

The 10% StartEngine Owners’ Bonus

Mama Gaia will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer’s bonus.

This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Preferred Stock at $1.51/ share, you will receive and own 110 shares for $151. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share. This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are canceled or fail.Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for. The Company will not incur any irregular use of proceeds.

Irregular Use of Proceeds

Example - The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments and salary made to one's self, a friend or relative; Any expense labeled "Administration Expenses" that is not strictly for administrative purposes; Any expense labeled "Travel and Entertainment"; Any expense that is for the purposes of inter-company debt or back payments.

Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$45,064.00 USD
$126.00 USD
Cash And Cash Equivalents
$45,000.00 USD
$61.00 USD
Accounts Receivable
$0.00 USD
$0.00 USD
Short Term Debt
$535.00 USD
$0.00 USD
Long Term Debt
$0.00 USD
$0.00 USD
Revenues And Sales
$12,474.00 USD
$25,591.00 USD
Costs Of Goods Sold
$7,145.00 USD
$17,996.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
-$33,962.00 USD
-$7,856.00 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

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