Amped Innovation

Growth Stage

Distributed solar power

Overview

Raised to Date: Raised: $180,565

Total Commitments ($USD)

Platform

Republic

Start Date

10/04/2022

Close Date

01/31/2023

Min. Goal

$25,000

Max. Goal

$5,000,000

Min. Investment

$100

Security Type

SAFE

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$35,000,000

Discount

0%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

02/05/2023

Days Remaining
Funded
% of Min. Goal

722%

% of Max. Goal

4%

Likelihood of Max
Funded
Avg. Daily Raise

$1,517

# of Investors

313

Momentum
Funded
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Year Founded

2016

Industry

Energy, Power, & Natural Resources

Tech Sector

Cleantech

Distribution Model

B2B2C

Margin

Medium

Capital Intensity

High

Location

Palo Alto, California

Business Type

Growth

Amped Innovation, with a valuation of $35 million, is raising funds on Republic. It is a clean tech company that has developed a clean and green solar machine. WOWsolar Hub of Amped Innovation is a rechargeable lithium battery bank with a built-in inverter to power homes and businesses. The machine is heat-proof, splash-proof, and dust-proof and is designed to be used every day and not just for occasional power outages. Amped Innovation has sold more than 130,000 similar products in Africa and Asia and generated $2.7 million in revenue in 2021. Andrea Kleissner and Kurt Kuhlmann founded Amped Innovation in November 2016. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $5 million. The campaign proceeds will be used for the first production build of the solar machine scheduled for Q4 2022.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$2,765,326

$2,907,229

COGS

$2,063,088

$1,917,747

Tax

$0

$0

 

 

Net Income

$-1,239,842

$-720,286

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$1,524,237

$2,071,146

Accounts Receivable

$1,266,912

$443,635

Total Assets

$4,729,597

$3,677,047

Short-Term Debt

$3,124,777

$832,385

Long-Term Debt

$0

$0

Total Liabilities

$3,124,777

$832,385

Financials as of: 10/04/2022
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Ratings KingsCrowd Startup Rating Methodology Article

Analyst Report Analyst Report Methodology Article

When applied to developing countries, American know-how often devolves into American know-it-all. And when that happens, everything unsurprisingly goes south. 

To be effective, American know-how needs to be sprinkled with large helpings of humility and patience. Unfortunately, these qualities are in short supply among American companies doing business in developing countries.

Amped Innovation is the exception to this rule. It has spent the last seven years in the trenches in Africa — not only selling products but also learning about local needs and frustrations. It took a while, but as a result, the startup was able to create the perfect kits of solar and battery systems for emerging countries.

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Founder Profile

Amped Innovation Co-Founder Andi Kleissner on Solar Power for Emerging Markets

Americans are used to having a constant flow of electricity sustaining their appliances, lights, devices, and more. Here, power outages of a few hours can upend a whole day’s plans. But in some countries, inconsistent electricity is a fact of life. South Africa, for example, is no stranger to blackouts and frequently counters them with power cuts. 

Amped Innovation combats unreliable grids in such countries with affordable, clean solar products that can endure heat, dust, and some water. Its WOWsolar Hub can power a home or business, and customers can monitor and optimize usage with a mobile app. Amped Innovation also offers solar light and TV products. We reached out to co-founder and co-CEO Andi Kleissner to learn more about how Amped Innovation’s products cater to its target market and what she’s learned from her experience at the company.

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

Read Founder Interview

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Amped Innovation on Republic 2022
Platform: Republic
Security Type: SAFE
Valuation: $35,000,000

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