AlgenAir
Early Stage
Living Technology—removing C02 more efficiently with the power of algae
Overview
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
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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