164%
Raised
£164,370
Investors
201
Target
£100,000
Equity
20.49%
Pre-money valuation
£638,000

Challenging the processed and mass-produced food markets, Sogud is a healthy snack brand with 150% month on month growth since launch. Already stocked in 80 retailers including TK Maxx, Sogud is raising funds to fulfil export opportunities and expand its product range.

  • UK health snack market is estimated to be worth £645m by 2020
  • Nutritious gluten-free snack range made with natural, whole foods
  • 150% month on month growth in the first year since launch
  • Over 80 stockists and selling online via own site, Amazon and Yumbles
Information The company had £150,000 of its SEIS allowance remaining at the start of this raise. This will be allocated to investors on a first come first served basis. Any investments made after that limit has been exceeded will not be SEIS eligible but will potentially be eligible for EIS. The potential tax relief of any investment will be confirmed by email to investors, after they have submitted their applications to invest, and will depend on an investor's individual circumstances.

Idea

Gift Pack - Almond and Apricot Squares
Gift Pack - Almond and Apricot Squares
Almond Squares
Almond Squares

Sogud is a growing healthy snack brand producing a range of snacks (squares and bites) in a variety of flavours. After our UK launch a year ago, we’re raising investment to further increase our average 150% monthly growth for the last 12 months and to expand our export efforts.

We created our snacks from our frustration that the market seemed to be saturated by highly processed and mass-produced foods. We felt that there was a gap in the market to provide health-conscious consumers with a nutritious alternative snack made with natural, whole foods.

After 6 months working with experts in nutrition and product development at the Rowett Institute and Queen Margaret University, we began testing our products in the Scottish market in March 2016 and launched in September of the same year. We immediately won an order from TKMaxx.

We’ve carefully nurtured relationships with over 80 independent retail outlets across the UK. We have a distributor for Scotland and agents for the rest of the UK. We also sell online via our own website, Amazon,and Yumbles.

We feel the product has excellent export potential and have already won orders for Germany, valuing at £30,000.

We estimate our addressable UK market to be worth £645m in 2020, growing at 4% p.a for cereal, energy and fruit and nut bars.

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Sogud has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.