Capital expenditure register — seed round (R m)
|
Category |
Amount |
Treatment / life |
|---|---|---|
|
Factory leasehold improvements |
2.0 |
Amortised 5 years |
|
Blending & mixing equipment |
3.2 |
Depreciated 10 years |
|
Packaging equipment |
2.1 |
Depreciated 10 years |
|
Laboratory & QA equipment |
0.9 |
Depreciated 8 years |
|
Delivery vehicles |
1.3 |
Depreciated 6 years |
|
ERP & IT systems |
0.8 |
Depreciated 4 years |
|
Initial inventory |
2.4 |
Working capital |
|
Sales & marketing |
1.3 |
Expensed at launch |
|
Working capital |
4.0 |
Funds first operating cycles |
|
Total (seed) |
18.0 |
Assumptions register
|
Parameter |
Value / treatment |
|---|---|
|
Repo / prime rate |
7.0% / 10.5% (SARB, mid-2026) |
|
Corporate tax |
27%, assessed losses carried forward |
|
Funding |
R18m seed (Y1) + R15m Series A (Y3); all-equity |
|
Depreciation |
Component; leasehold 5-yr, equipment 10-yr, lab 8-yr, vehicles 6-yr, ERP/IT 4-yr |
|
Working capital |
14% of revenue (inventory + receivables) |
|
Revenue mix (Y5) |
Manufacturing 68% / food-service 20% / consulting 12% |
|
Customer & range |
~120 → 600 customers; 45 → 180 products |
|
Exit multiple |
7×–10× EV/EBITDA (specialty food manufacturer) |
|
Debt capacity (illustrative) |
~R10m; asset & working-capital finance |