AlgenAir

Early Stage

Living Technology—removing C02 more efficiently with the power of algae

Overview

Raised to Date: Raised: $34,770

Total Commitments ($USD)

Platform

Republic

Start Date

11/15/2022

Close Date

01/31/2023

Min. Goal

$25,000

Max. Goal

$1,235,000

Min. Investment

$150

Security Type

SAFE

Series

Seed

Funding Type

RegCF

Valuation Cap

$7,500,000

Discount Rate

20%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

02/01/2023

Days Remaining
Funded
% of Min. Goal

139%

% of Max. Goal

3%

Likelihood of Max
Funded
Avg. Daily Raise

$452

# of Investors

51

Momentum
Funded
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Location

Pittsburgh, Pennsylvania

Industry

Consumer Products, Goods & Services

Tech Sector

Biotech

Distribution Model

B2C

Margin

Low

Capital Intensity

High

Business Type

Growth

AlgenAir, with a valuation of $7.5 million, is raising funds on Republic. The company has developed living technology that uses algae to remove carbon dioxide and VOCs from indoor air. The business has created The Aerium as the first natural air purifier that removes carbon dioxide and adds oxygen, along with maintaining harmony with the existing plants. AlgenAir’s Aerium is 25 times more efficient than the average house plants and also lives symbiotically with the existing plants by producing natural fertilizer. Kelsey Abernathy and Dan Fucich founded AlgenAir in May 2021. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $1.24 million. The campaign proceeds will be used to grow the team, scale manufacturing and sales, and begin the development of modular installations.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$39,758

$28,821

COGS

$25,197

$4,408

Tax

$0

$0

 

 

Net Income

$-104,534

$51,463

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$34,380

$45,473

Accounts Receivable

$3,056

$0

Total Assets

$87,582

$51,463

Short-Term Debt

$5,924

$0

Long-Term Debt

$125,000

$0

Total Liabilities

$130,924

$0

Financials as of: 11/15/2022
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AlgenAir on Republic 2022
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Platform: Republic
Security Type: SAFE
Valuation: $7,500,000

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