About this raise

BNNano, with a valuation of $23.7 million, is raising funds on NetCapital. It is an advanced manufacturing company that has developed a patent-pending Boron Nitride Nanotube, NanoBarb. NanoBarb is added to commodities to improve a material’s natural properties and make it extraordinary. BNNano’s product has received several awards and includes customers like NASA, United States Navy, Kairos, and True Velocity. Steve Wilcenski and Jason Taylor founded BNNano in December 2016. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $3,000,002. The campaign proceeds will be used for facilities improvements, product development, sales and marketing, research and development, and capital equipment.

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Investment Overview

Invested this round: $212,374

Deal Terms

Total Commitments ($USD)

Platform
Netcapital
Start Date
08/29/2022
Close Date
02/28/2023
Min. Goal
$10,001
Max Goal
$3,000,002
Min. Investment

$99

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.87

Pre-Money Valuation

$23,700,672

Company & Team

Company

Year Founded
2016
Industry
Industrial Services
Tech Sector
Hardwaretech
Distribution Model
B2B
Margin
High
Capital Intensity
High
Location
Burlington, North Carolina
Business Type
Growth
Company Website
Visit Website

Team

Employees
6
Prior Founder Exits?
No
Founder Name
Steve Wilcenski
Title
CEO
Founder Name
Jason Taylor
Title
CTO

Financials

 Revenue +74% YoY
$112,114
 Monthly Burn
$79,744
 Runway
5.2 months
Gross Margin
69%

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$112,114

$64,551

COGS

$34,968

$79,279

Tax

$-5,790

$-5,499

 

 

Net Income

$-956,926

$-868,013

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$417,308

$82,794

Accounts Receivable

$0

$0

Total Assets

$536,693

$188,848

Short-Term Debt

$0

$0

Long-Term Debt

$1,465,000

$1,509,868

Total Liabilities

$1,465,000

$1,509,868

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BNNano has developed a material that’s lightweight, yet strong as steel. It gives aluminum the strength of steel and polyester the strength of kevlar. It can be used for fire prevention, water purification, biomedical purposes, hypersonic flight, green energy, and new composites that challenge our ideas on what materials can do. And BNNano is the only company that's been able to commercialize it.

Company Funding & Growth

Funding history

Total Prior Capital Raised
$3,678,010
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
02/28/2023 Netcapital $23,700,672 $212,374 Equity - Common Funded RegCF
07/31/2021 Netcapital $20,102,381 $1,069,997 Equity - Common Funded RegCF
03/07/2021 Netcapital $21,077,703 $0 Equity - Common Funded Test the Waters
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Growth Charts

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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Add to portfolio
BNNano on NetCapital 2022
Platform: Netcapital
Security Type: Equity - Common
Valuation: $23,700,672
Price per Share: $1.87

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Follow BNNano on NetCapital 2022

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

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