A Convertible Note is debt that converts to equity. If you invest, you're betting reef grows will be worth more than $8M in the future.
At reef, we're building a future where the highest-quality cannabis will be grown right in your home.
We're disrupting the cannabis industry by empowering consumers with the tools & knowledge they need to home grow their own cannabis.
Our team is on a mission to change the stigma of what it means to be home grown.
What unites us is a passion for holistic design, connection, and empowerment.
For too long, home growing has been associated with all of the negative connotations of the underground cannabis culture.
You’re familiar with:
Hidden closet grows and unsightly tents using harsh lighting and industrial hardware.
The reef brand, at its core, is about building a new narrative for plant medicine that is clean and holistic.
There are real dangers in the status quo that inspired us to take action.
The majority of commercial cannabis on the market across the United States is grown using unsustainable industrial grow practices that contribute to:
With home growing no harmful fertilizers are necessary, your per ounce energy footprint is reduced 93%, and only natural and organic pest management techniques can be used to keep your plant thriving.
We believe home growing is the only sustainable future for the industry.
When you grow at home, you take back control of your medicine. When a community grows cannabis together, we take back control of our future.
reef empowers anyone (21+ of course) to grow quality medicine with no prior experience required.
We created this product at the intersection of design, sustainability, and functionality.
reef brings light into your living space and invites you to connect more deeply to what matters most.
We offer a variety of finishes and hardware to match our growers' interiors, fitting in seamlessly as a statement piece.
As a unique part of the home, our products inspire connection.
reef growers are everywhere.
They might be your friends, co-workers, maybe even you.
You just don't know it yet.Before reef, growing cannabis required at least 3 things:
- Specialized knowledge of cannabis- Specialized grow technology- Privacy
reef empowers anyone to grow like a pro by automating the cannabis grow cycle from seed to harvest.If you're interested in what's happening under the hood read on, otherwise feel free to skip to the next section.
Our comprehensive grow technology auto adjusts light, irrigation, and temperature to maintain optimal growing conditions, while streaming live data & insights directly to our users’ apps.There are a variety of built-in privacy controls including a motorized shade, locking and odor filtration to ensure discretion when it's needed.
With our automation and smartphone app, all the tools you need to grow are at your fingertips whether you’re home or away.
To successfully launch such a big vision, we needed a talented team. Our founder spent the last two years recruiting individuals that could take the vision from concept to product.
From software development to hardware, electronics, and grow expertise, our team’s skills have allowed us to completely bootstrap and develop all the technology and testing to bring the HomeGrow to market.
“The cannabis I’ve seen grown in a reef is some of the frostiest homegrow I’ve ever seen”
Cam Taylor, Master Cannabis Cultivator
reef grows aims to be the go-to partner for consumer home grow products.
reef cultivates space in your home to grow beautiful cannabis and your community. Through our growers’ platform, reef growers will connect with their neighbors and community to share flower, seeds, knowledge and more.
We're building a future where reef home growers will be able to run micro-dispensaries through our platform, connecting home craft cannabis to local customers.
Along the way, we’ve been validating our designs and approach by sharing “behind the scenes” content with online social communities in the cannabis space. The response was clear and gave us the motivation to continue on our current trajectory.
Through a growing digital presence and the unveiling of our first physical showroom, we’re building anticipation for our product launch in Los Angeles. At the launch, we will open pre-sales to customers and announce fundraising.
Post-launch we’ll serve customers in the Los Angeles area as we build a critical mass of operations and manufacturing capabilities that will allow us to duplicate our model in other high-priority regions.
Although we’ve been in stealth mode for the last few months, we’re preparing to unveil a series of creative digital assets to build hype towards the announcement of our product launch.
IRL Showroom Partnership
We’re currently vetting showroom partnership options from local Los Angeles dispensaries that align with the reef grows brand.
This partner will act as our first physical showroom to drive connection and engagement with soon-to-be reef growers.
Last-Mile White Glove Service
We’re committed to building our user base through deep customer relationships.
We're are taking an approach similar to Peloton, where our operations are vertically integrated from fabrication to installation.
That means each customer will have their HomeGrow hand-delivered and installed by a reef technician who is trained in installation, maintenance and knowledge of our grow science
Why invest in reef?
How does my investment in reef work?
We’re currently raising our pre-seed round in the form of a Convertible Note.
This is an investment instrument created specifically for pre-valuation startups to raise capital while giving early investors the best terms before we raise bigger rounds.
What is an equity funding trigger?
The equity funding trigger is the future fundraising amount that will trigger the conversion of your note into equity aka shares in reef grows. For example, if we raise a $2mm series seed financing round, this would trigger conversion because the amount raised is more than $500,000.
What is a valuation cap?
The valuation cap protects early investors from excessive equity dilution if the value of the company during the next equity round is significantly higher than expected, in our case higher than $8mm.
For example, if our next round we raised $2mm at a $20mm pre-money valuation, early investors would be protected from dilution by having their equity convert at a $8mm valuation cap resulting in larger equity for early investors than if the cap were not in place.
What is the conversion discount?
This mechanism protects early investors in the case the future equity fundraising round is priced at or below the valuation cap. In any case, a conversion discount gives note holders a 20% discount on the price per share of future price rounds.
What is the interest rate?
Until convertible notes are triggered by the equity funding trigger, they are essentially a loan earning interest on a yearly basis, in our case at 8%.
We decided to launch our WeFunder in order to raise funding in a way that aligns with the mission and vision of our company, which is to empower individuals.
Just like the current state of the cannabis industry, for a long time, investing in early-stage, high-growth startups was reserved for high-network investors and venture capitalists.
We want to share this funding opportunity with Family and Friends supporters to join us on our journey and be part of the story and successes as we continue to grow.
If you want to learn more about our story, current progress or investment opportunity you can book a 1-on-1 with me and we can talk through the details together:
Schedule an appointment to talk.