Overview

Raised to Date: Raised: $264,406

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

Total Commitments ($USD)

Platform

Wefunder

Start Date

08/25/2022

Close Date

03/23/2023

Min. Goal

$50,000

Max. Goal

$1,070,000

Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    

Valuation Cap

$10,000,000

Discount

20%

Rolling Commitments ($USD)

Status

Funded

Reporting Date

03/30/2023

Days Remaining

Funded

% of Min. Goal

Funded

% of Max. Goal

Funded

Likelihood of Max

Funded

Avg. Daily Raise

$1,265

# of Investors

119

Momentum

Funded

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ABBY by GOGOTECH

Year Founded

2021

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

Hardwaretech

Distribution Model

B2C

Margin

Medium

Capital Intensity

High

Location

Wilmington, Delaware

Business Type

Growth

Company Website

ABBY by GOGOTECH, with a valuation of $10 million, is raising funds on Wefunder. The company has developed a new personal electric vehicle for adults with reduced mobility. The wheelchairs of ABBY are safe, advanced, and affordable and come with modern features, including smart push-rim technology, conventional rear-wheel-drive format, and quick-release components. ABBY by GOGOTECH also has a modular battery, remote control, upcoming mobile app, reverse camera, and adjustable armrests. John Debenedette founded ABBY by GOGOTECH in September 2021. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1,070,000. The campaign proceeds will be used for producing production prototypes, complete packaging design, US warehouse and operations, mobile app and software development, and marketing.

Summary Profit and Loss Statement

	Most Recent Year	Prior Year
Revenue	$0	$0
COGS	$0	$0
Tax	$0	$0
Net Income	$-97,224	$0

Summary Balance Sheet

	Most Recent Year	Prior Year
Cash	$110,447	$0
Accounts Receivable	$0	$0
Total Assets	$110,447	$0
Short-Term Debt	$120,671	$0
Long-Term Debt	$0	$0
Total Liabilities	$120,671	$0

Financials as of: 08/25/2022

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ABBY by GOGOTECH Founder John DeBenedette on Accessible Medical Assistance

Medical assistance technology is notoriously expensive. Mobility aids can cost anywhere from a couple hundred to several thousand dollars, with electric wheelchairs coming in between $1,000 and $50,000. For a lot of people, that isn’t a feasible option.

ABBY by GOGOTECH is a powered mobility device designed to be both high-tech and affordable. We spoke with founder John DeBenedette about his approach to accessibility as well as his designs and plans for the product. 

Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.

Read Founder Interview