Overview

Raised to Date: Raised: $124,349

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

Total Commitments ($USD)

Platform

StartEngine

Start Date

10/31/2021

Close Date

04/27/2022

Min. Goal

$10,000

Max. Goal

$1,070,000

Min. Investment

$300

Security Type

Equity - Common

Series

Pre-Seed

SEC Filing Type

RegCF    

Price Per Share

$5.00

Pre-Money Valuation

$6,000,000

Rolling Commitments ($USD)

Status

Funded

Reporting Date

04/30/2022

Days Remaining

Funded

% of Min. Goal

Funded

% of Max. Goal

Funded

Likelihood of Max

Funded

Avg. Daily Raise

$703

# of Investors

87

Momentum

Funded

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AgTechLogic

Year Founded

2021

Industry

Farming & Agriculture

Tech Sector

AgriTech

Distribution Model

B2B

Margin

Medium

Capital Intensity

High

Location

Mesa, Arizona

Business Type

Growth

Company Website

AgTechLogic, with a valuation of $6 million, is raising funds on StartEngine. The company is developing and accelerating precision agriculture technology to improve growing food. The technology will also help in protecting the resources, reducing the amount of herbicides, and increasing the profitability of farmers. The advanced sensor technology of AgTechLogic reduces chemical usage by up to 90%, thus impacting farmers’ profits, soil health, and food insecurities. Thomas Gauthier founded AgTechLogic in September 2021. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $1,070,000. The campaign proceeds will be used for research and development, app development, and expansion.

Summary Profit and Loss Statement

	Most Recent Year	Prior Year
Revenue	$31,095	$0
COGS	$14,040	$0
Tax	$0	$0
Net Income	$-30,719	$-6,876

Summary Balance Sheet

	Most Recent Year	Prior Year
Cash	$32,485	$0
Accounts Receivable	$-1,720	$0
Total Assets	$76,098	$0
Short-Term Debt	$140,773	$36,677
Long-Term Debt	$0	$0
Total Liabilities	$140,773	$36,677

Financials as of: 10/31/2021

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AgTechLogic Founder Tom Gauthier on Making Farming Smarter and More Sustainable

Food demand is expected to increase substantially over the next 28 years due to an increased population and climate change. While herbicides can play an important role in improving crop yield, they can also cause pollution and potentially exacerbate the issue. Finding a balance between protecting crops and protecting the environment is becoming more essential than ever.

AgTechLogic is working on a smart technology solution that can reduce the use of chemicals while still helping crops grow. Its technology can detect weeds and deploy chemicals only where necessary, as opposed to spraying chemicals over a broad area. We reached out to co-founder and CEO Tom Gauthier to hear more about AgTechLogic’s beginnings and future plans.

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

Read Founder Interview