Tue 16th May 2017 - Healthy quick-service concept Vita Mojo hits £1.5m crowdfunding target for expansion within hours of launch Healthy quick-service concept Vita Mojo hits £1.5m crowdfunding target for expansion within hours of launch: Healthy quick-service concept Vita Mojo has hit its £1.5m target on crowdfunding platform Crowdcube for expansion within hours of launching the campaign. The company, founded by Nick Popovici and Stefan Catiou, is offering a 7.18% equity stake in the company in return for the investment. It hit that target within hours of the campaign going live, with 145 investors pledging £1,537,390 and it is now “overfunding” with 25 days remaining. Backed by global caterer Elior Group, Vita Mojo, which has three sites in London and strives to make food “personal”, is looking to open new restaurants in the capital and the UK as well as franchise the concept in other regions. The company is on track to deliver revenue of £2.7m this year. The pitch states: “Our focus is on growing our restaurant business as well as offering a white-label solution to other restaurants around the world. We plan to open two more restaurants in 2017, with three in 2018 and four in 2019. We also plan to franchise the concept in other regions. We will also invest funds in refining our software, ready for a pilot later in 2017, followed by leasing our software from 2018 onwards to operators around the world. Our vision is to make personalised food the norm around the world. We have different lifestyles and DNAs. We like different flavours and our appetites are different too. Restaurants struggle to accommodate individualised meals – choice is limited to set menus – its one size fits all, mass-produced food. Our solution is mass-customised meals – each meal is tailored to personal needs through easy to use technology. We forecast revenue of £2.7m in 2017 with Ebitda of £1.0m, revenue of £10.4m with Ebitda of £0.3m in 2018 and revenue of £23.5m with Ebitda of £2.2m in 2019. Although we are not in control of the options, which might be available in the future, we are targeting a full trade sale or initial public offering in the next few years. Vita Mojo secured a £1m investment from Elior Group prior to launch, which is included in the campaign total and at the same share price as all investors.”