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INVEST IN LETTUCE NETWORKS TODAY!

Eat Local, Grow Food, Live Sustainably

This Reg CF offering is made available through StartEngine Capital, LLC. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.

$128,010 Raised

REASONS TO INVEST

ABOUT

HEADQUARTERS
4701 Red Bluff Road, Suite A
Austin, TX 78702

TEAM

Yogesh Sharma
Yogesh Sharma
Co-founder & CEO

A career entrepreneur, Yogesh has 20+ year of entrepreneurial experience building companies in Austin, Silicon Valley, New York and India. He has lead organizations with 100s of employees and millions in revenue in media, technology and marketing industries. Yogesh grew up in a foodie environment with his Mom growing and cooking food in an intensely urban environment in Delhi, India. He has 8 years of experience growing food in his own front and backyards in San Francisco and Austin. The last 3 years building Lettuce have been the most humbling, and intensely satisfying years of his career - working to create a new paradigm, with a team of mission-driven individuals.

Hal Roberts
Hal Roberts
Co-founder & General Manager, Lettuce GrowShare

Native Texan, self starter, and young entrepreneur, Hal Roberts believes in hard work and dedication towards evolving the way our society views and produces food. Hal never shirks at a challenge or a grand learning opportunity. Hal was raised in San Antonio, Texas as the 7th child in a family of 8 kids, where his early interest in urban farming and sustainability began to take root. Hal has been growing food for most of his life, but his true passion for urban farming began 5 years ago. He fervently works towards a community where farming is commonplace and widely practiced, inspiring a green thumb in anyone he meets.

Ved Prakash
Ved Prakash
Co-founder & General Manager, Lettuce LocOS

A consummate engineer and entrepreneur, Ved has over 20 years of software development experience in India and the US and manages Lettuce’s technology development effort, based in Mysore, India. He has built several large scale software products, Web apps, mobile apps and more, while training and managing large teams of engineers and product managers. He is also a passionate cook intrigued by the science of how ingredients come together to create distinct flavors and nutritional benefits. Lettuce enabled him to bring his passions for food and computing together to help create a new technology-enabled paradigm in the food industry.

Ashok Srinivas
Ashok Srinivas
General Manager, Technology

An engineering focussed & results oriented technology leader, Ashok has over 20 years of global software development experience. He has a strong understanding of data, business & process management. He has lead the development of technology products in a variety of domains including ecommerce, online advertising, CRM, and marketing automation. He has extensive experience in developing & motivating highly focused Technology & R&D teams.

Mujtaba Mazhar
Mujtaba Mazhar
Software Engineer

Based in Mysore, India, Mujtaba has several years of experience building web, ecommerce and POS applications on various platforms. He is also an experienced technology project manager. Mujtaba has a B.E. in Information Sciences from the National Institute of Engineering, India.

Jasen Trautwein
Jasen Trautwein
Director

Jasen Trautwein is a successful veterinarian, and co-founder of the fast growing Pathway Vet Alliance. He holds a Doctor of Veterinary Medicine from Texas A&M. Outside of Pathway, Dr. Trautwein currently serves as a consulting veterinarian and board member of the Capital of Texas Zoo and Veterinary Growth Partners. His passion for the health of individuals, communities and the planet brought him to Lettuce where as a board member since Sept 2017, he has provided strategic and financial guidance to the company.

TERMS

Lettuce Networks
Overview
INTEREST RATE
5.0%
MATURITY DATE
Jan 31, 2021
VALUATION CAP
$8M
FUNDING GOAL
$10k - $1.07M
Breakdown
MIN INVESTMENT
$100
DISCOUNT RATE
20.0%
CONVERSION TRIGGER
$3,000,000
OFFERING TYPE
Convertible Notes
TYPE OF EQUITY
Series Seed - 1 Preferred Stock

What is a Convertible Note?

A convertible note offers you the right to receive Series Seed - 1 Preferred Stock in Lettuce Networks. The amount of Series Seed - 1 Preferred Stock you will receive in the future will be determined at the next equity round in which the Company raises at least $3,000,000.00 in a qualified equity financing. The highest conversion price per security is set based on a $8,000,000.00 Valuation Cap or if less, then you will receive a 20.00% discount on the price the new investors are paying. You also receive 5.00% interest per year added to your investment. When the maturity date is reached, if the note has not converted then you are entitled to receive Series Seed - 1 Preferred Stock equal to your investment and interest back at a price per security determined by dividing the Valuation Cap by the aggregate number of outstanding equity securities of the Company as of immediately prior (on a fully diluted basis).

*Annual Interest Rate subject to adjustment of 10% bonus for StartEngine shareholders. See 10% Bonus below

Perks 

All investors will receive a Lettuce investor goodie bag including a t-shirt, cap, magnets, stickers, and an investor welcome kit signed by the Lettuce team.

The following perks will be for investors in the Greater Austin, Texas area. Investors outside of this area will receive these perks when Lettuce is available in their area. 

$250+: One Orchard Basket + dozen eggs delivery

$500+: $50 off your next delivery 

$1000+: Membership to the Lettuce Pioneers Club

$2,500+: A 40 sq. ft. Food Garden (raised bed) installation 

$5000+: A Lettuce chef will cook dinner at your home for your family and friends (up to 10 people), including wine and dessert 

$10,000+: All of the above perks

*All perks occur after the offering is completed

The 10% Bonus for StartEngine Shareholders

Lettuce Networks, Inc. will offer 10% additional bonus shares for all investments that are committed, within 24 hours of this offering going live, by StartEngine Crowdfunding Inc. shareholders who invested over $1,000 in the StartEngine Reg A offering which closed earlier this year.

StartEngine shareholders who have invested $1,000+ in the StartEngine Reg A+ campaign will receive a 10% increase in the annual interest rate on Convertible Promissory Notes in this Offering if they invest within a 24-hour window of their campaign launch date. For example, if invest in the first 24 hours, your annual interest rate will be 5.5% instead of 5%.   

This 10% Bonus is only valid for one year from the time StartEngine Crowdfunding Inc. investors receive their countersigned StartEngine Crowdfunding Inc. subscription agreement.

Irregular Use of Proceeds

The Company will not incur any irregular use of proceeds.

PRESS

Article Image
Growing A Meal Kit Service With A Distributed Farming Network

"As a backyard gardener and entrepreneur, Yogesh Sharma was struck by a thought: Why is more food not grown locally?"

Article Image
Lettuce Networks are Saving the World

"I thought that I loved this business before I sat down with the co-founders... and now I realize, no, I didn't, now I really love them."

Article Image
Why You Should Hope Your Next Tomato's Grown Indoors By Robots

"Lettuce Networks is trying another approach. It is using cloud and mobile technology to create a network of urban farms."

Article Image
Lettuce Network Turns Yards Into Farms

"Lettuce’s omnivore plan costs $79 for three meals of four servings each. For comparison, the same number of meals and servings would cost more than $100 with Blue Apron."

Article Image
Cool at School: Lettuce Farm at Lee Elementary

"Lettuce creates new experiences for students like 12-year-old Jayln Miles, "Today I learned what okra was and I didn't know what okra was, my principle told me try some, and it was really good.'"

ALL UPDATES

02.21.20

Towards a less trashy future . . .

Hi Lettuce investors and followers!

Greetings! It’s been a while since our last update on this campaign. We have been heads down, hands on deck, working on all aspects of the business - getting it to a place where it's not only true to its mission, but also financial sustainable. Happy to report that we are getting close to EBITDA cash flow positive. 

The work we are doing at Lettuce is just the start of our vision towards more sustainable households, self-sufficient communities and a better planet. We are at the cusp of taking a meaningful step with a new initiative called Trashless

From pantry items to household cleaning supplies - most common consumer products come in single-use packaging - which is ecologically damaging and economically expensive to produce, transport, use, discard or recycle. Trashless solves this huge problem by delivering consumables locally in reusable packaging, picking up the containers and delivering refills when prompted via a simple tap of a button on the Trashless phone app.  

Imagine your life free of single-use packaging. And a world with a lot less trash. 

We are running an Indiegogo fundraising campaign for Trashless here: igg.me/at/trashless. We would greatly appreciate you taking a look and consider making a contribution. 


Warm regards, 

Yogesh Sharma 

12.20.19

Notice of Funds Disbursement

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Lettuce Networks has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Lettuce Networks be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

11.20.19

Notice of Funds Disbursement

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Lettuce Networks has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Lettuce Networks be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

11.04.19

Notice of Material Change in Offering

[The following is an automated notice from the StartEngine team].

Hello! Recently, a change was made to the Lettuce Networks offering. Here's an excerpt describing the specifics of the change:


Extended length of campaign.


When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.

10.22.19

Notice of Funds Disbursement

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Lettuce Networks has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Lettuce Networks be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

10.17.19

And We're Back . . .

Hi investors and followers, 

After a few months of reworking everything - we are back! Apologies for the silence here on updates, but we’ve been busy. Here’s where we’re at: 

Operations

We have brought on a new General Manager in Austin, Glynn Broussard, who has decades of experience running restaurants. He has systematically reworked our operating model as laid out in the last update - sourcing, assembling and delivering Lettuce products with a fraction of the physical and labor footprint compared to before. Result: A much stronger financial model that we expect will get us to breakeven in Austin shortly, as we ramp up to prior delivery volumes and then beyond over the next few weeks. 

Technology

We are thrilled to announce that our new technology platform and marketplace empowering local food ecosystems, Loconomy (www.loconomy.com) is now live! Loconomy aims to bring together local farmers, distributors, food artisans, food service establishments and consumers at one place, resulting in greater transparency, seamless digital transactions, more effective communications and higher efficiency in operations and logistics. 

Lettuce is already on Loconomy, with customers onboarding, ordering and managing their deliveries quickly and seamlessly. Several major local farmers and distributors are silently on Loconomy as well, with Lettuce purchasing most of the local ingredients that go into its products on Loconomy. Over the next few weeks and months dozens of farmers, producers, artisans and distributors based in and around Austin, will go fully live on Loconomy, kicking in network efforts and they conduct business with each other, and their customers. 

Expansion to other geographies will start in 2020 - though the platform is now open for local sellers anywhere to use its powerful set of features. There is no set up or subscription fee to be a Seller on Loconomy - it’s revenue model is based on commission on transactions. Sellers get - for free - custom built, integrated, state of the art software and services that’ll cost them thousands of dollars a month in aggregate to purchase elsewhere: Advanced ecommerce storefronts including sophisticated subscription features, connected inventory management, payments, customer support systems (including chat, email and telephony), marketing tools, driver management, routing, navigation and more. Learn more here: www.loconomy.com/supplier.

Marketing

We are executing on a powerful, cohesive marketing strategy that will bring awareness to Loconomy at a low cost - both among Sellers and Customers. This includes PR, search engine marketing, social media marketing and direct mail. This will trickle down to bringing more customer engagement and sales for Sellers on Loconomy, including Lettuce. 

We appreciate your patience as we’ve been working through significant updates to our operations, business processes and technology. Our vision for local, healthier and sustainable mainstream food systems to become mainstream is as stronger, clearer and achievable as ever. We look forward to your continued support! 


Sincerely, 


Yogesh Sharma 

Co-founder & CEO, Lettuce Networks 

10.01.19

Notice of Funds Disbursement

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Lettuce Networks has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Lettuce Networks be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

08.30.19

Notice of Material Change in Offering

[The following is an automated notice from the StartEngine team].

Hello! Recently, a change was made to the Lettuce Networks offering. Here's an excerpt describing the specifics of the change:


Extended length of campaign.


When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.

07.22.19

Notice of Funds Disbursement

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Lettuce Networks has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Lettuce Networks be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

07.01.19

Notice of Material Change in Offering

[The following is an automated notice from the StartEngine team].

Hello! Recently, a change was made to the Lettuce Networks offering. Here's an excerpt describing the specifics of the change:


Lettuce Networks has extended the end date of their campaign, updated their campaign page and added an officer.


When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.

REWARDS

Multiple investments in an offering cannot be combined to qualify for a larger campaign perk. Get rewarded for investing more into Lettuce Networks.

JOIN THE DISCUSSION

0/2500

DS
Denise Sangster

9 INVESTMENTS

a year ago

Hello, would you mind giving us an update on the status of the company and our investment. Thank you.

0

0

AB
Aditya Basu-Dutta

3 INVESTMENTS

a year ago

Wow, I guess you lettuce people really hit an iceberg.

0

1

FS
Fern Springs

13 INVESTMENTS

2 years ago

Are you still in business?

0

0

DA
Dwayne Azari-Eze

10 INVESTMENTS

2 years ago

Yes, I have not seen an update. Please advise.

0

0

LM
Lance McNeill

2 years ago

Any new/recent updates to share?

0

0

RP
RAJESHBHAI PATEL

2 INVESTMENTS

4 years ago

Hello Yogesh Sharma, Are their your company dealing with Meat Food ,Sea food or any Animal or Bird Killing like Chicken etc.? Please Reply. Waiting for your reply Kind Regards, Rajesh Patel

0

0

JJ
Jack Jarson

4 years ago

I read you have stopped operations. Can you shed light on this? Are you shutting down? Why SHOULD I invest if you have stopped operating?

1

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JJ
Jack Jarson

4 years ago

I read you have stopped operations. Can you shed light on this? Are you shutting down? Why SHOULD I invest if you have stopped operating?

1

0













AS
Aaryaman Singhal

10 INVESTMENTS

4 years ago

Is it possible to share any information about 2018 financials or 2019 numbers so far? Also, if you reach 107K goal, will you extend the campaign to raise up to 1.07 Million?

1

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jS
justin Skladanek

1 INVESTMENTS

4 years ago

I saw that there was an amended Form C filed yesterday extending the campaign, but your most recent update doesn't seem to address that. Is that true? Also the amended Form C and prior list an interest rate on the loan of 6%. Why does this say 5% in the offering?

0

0

HOW INVESTING WORKS

Cancel anytime before 48 hours before a rolling close or the offering end date.

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SECURE

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DIVERSE INVESTMENTS

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With Regulation A+, a non-accredited investor can only invest a maximum of 10% of their annual income or 10% of their net worth per year, whichever is greater. There are no restrictions for accredited investors.

With Regulation Crowdfunding, non-accredited investors with an annual income or net worth less than $124,000, are limited to invest a maximum of 5% of the greater of those two amounts. For those with an annual income and net worth greater than $124,000, he/she is limited to investing 10% of the greater of the two amounts.

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StartEngine assists companies in raising capital, and once the offering is closed, we are no longer involved with whether the company chooses to list shares on a secondary market, or what occurs thereafter. Therefore, StartEngine has no control or insight into your investment after the close of the live offering. In addition, we are not permitted to provide financial advice. You may want to contact a financial professional to discuss possible investment outcomes.

For Regulation Crowdfunding, investors are able to cancel their investment at any point throughout the campaign up until 48 hours before the closing of the offering. Note: If the company does a rolling close, they will post an update to their current investors, giving them the opportunity to cancel during this timeframe. If you do not cancel within this 5-day timeframe, your funds will be invested in the company, and you will no longer be able to cancel the investment. If your funds show as ‘Invested’ on your account dashboard, your investment can no longer be canceled.

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Refunds that are made through ACH payments can take up to 10 business days to clear. Unfortunately, we are at the mercy of the bank, but we will do everything we can to get you your refund as soon as possible. However, every investment needs to go through the clearing process in order to get sent back to the account associated with the investment.

Both Title III (Regulation Crowdfunding) and Title IV (Reg A+) help entrepreneurs crowdfund capital investments from unaccredited and accredited investors. The differences between these regulations are related to the investor limitations, the differing amounts of money companies are permitted to raise, and differing disclosure and filing requirements. To learn more about Regulation Crowdfunding, click here, and for Regulation A+, click here.

RAISED
$128,010
INVESTORS
275
MIN INVEST
$100
VALUATION CAP
$8M

@ 2022 All Rights Reserved

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