Aqua Research

Aqua Research

Closed: Apr. 2023

About this raise

Aqua Research, with a valuation of $7.07 million, is raising funds on NetCapital. The company has developed its innovative, affordable, and sustainable disinfection technology for disinfecting surfaces and treating drinking water. The Aqua Research system uses common salt to solve disinfection supply chain issues of developing nations and makes the process cheaper, simpler, and more robust. Aqua Research has received approvals from USAID and has installed hundreds of systems in over 20 countries. Gene Rabent and Rodney Herrington founded Aqua Research in September 2011. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $1.23 million. The campaign proceeds will be used for sales, product development, unallocated funds, and general and administrative expenses.

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Investment Overview

Invested this round: $36,233

Deal Terms

Total Commitments

Platform
Netcapital
Start Date
02/06/2023
Close Date
04/28/2023
Min. Goal
$10,000
Max Goal
$1,234,999
Min. Investment

$99

Security Type

Equity - Common

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.63

Pre-Money Valuation

$7,074,581

Company & Team

Company

Year Founded
2011
Industry
Healthcare & Pharmaceuticals
Tech Sector
HealthTech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
High
Location
Albuquerque, New Mexico
Business Type
Growth
Company Website
Visit Website

Team

Employees
5
Prior Founder Exits?
No
Founder Name
Rodney Herrington
Title
CTO

Financials

 Revenue -43.4% YoY
$665,355
as of FY2021
 Monthly Burn
$6,251
as of FY2021
 Runway
17.4 months
as of FY2021
 Gross Margin
47%
as of FY2021

Summary Profit and Loss Statement

FY 2021 FY 2020

Revenue

$665,355

$1,175,727

COGS

$351,215

$550,940

Tax

$0

$0

 

 

Net Income

$-75,010

$52,755

Summary Balance Sheet

FY 2021 FY 2020

Cash

$108,906

$98,533

Accounts Receivable

$11,792

$0

Total Assets

$447,877

$253,788

Short-Term Debt

$630,486

$523,887

Long-Term Debt

$54,125

$0

Total Liabilities

$684,611

$523,887

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$406,585
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
04/28/2023 Netcapital $7,074,581 $36,233 Equity - Common Funded RegCF
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Founder Interview

Aqua Research Founder Rodney Herrington on Destroying Waterborne Diseases

Safe water and a clean environment are two seemingly simple factors that play a huge role in an individual’s health. But in low-income countries, those necessities aren’t always as accessible as turning on a tap or stopping by the store for some cleaning spray. Even hospitals, where sanitation can make the difference between healing or further complications, may suffer from poor hygiene in some communities.

Aqua Research is determined to combat this humanitarian crisis -- with more than a grain of salt. Its affordable, innovative technologies can create a disinfectant and purify water using salt as a main ingredient. We reached out to founder and Chief Technology Officer Rodney Herrington to learn more about the company’s sales process and the organizations it collaborates with.

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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Add to portfolio
Aqua Research on NetCapital 2023
Platform: Netcapital
Security Type: Equity - Common
Valuation: $7,074,581
Price per Share: $1.63

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Follow Aqua Research on NetCapital 2023

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Warning: according to the close date for this deal, Aqua Research may no longer be accepting investments.

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