Circle Optics
Early Stage
World’s only stitch-free panoramic multi-camera system. One click.
Overview
Raised: $184,715
Total Commitments ($USD)
Platform
Wefunder
Start Date
01/25/2023
Close Date
04/30/2023
Min. Goal
$150,000
Max. Goal
$1,000,000
Min. Investment
$360
Security Type
Equity - Preferred
Series
Seed
Funding Type
RegCF
Price Per Share
$1.62
Pre-Money Valuation
$20,000,741
Rolling Commitments ($USD)
Status
Active
Reporting Date
02/02/2023
Days Remaining
87
% of Min. Goal
123%
% of Max. Goal
18%
Likelihood of Max
Avg. Daily Raise
$23,089
# of Investors
59
Momentum
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Location
Rochester, New York
Industry
Media, Entertainment & Publishing
Tech Sector
Hardwaretech
Distribution Model
B2B
Margin
Low
Capital Intensity
High
Circle Optics, with a valuation of $20 million, is raising funds on Wefunder. The company has developed the world’s first seamless and stitch-free panoramic multi-camera system. The 360 degrees camera system of Circle Optics works by aligning fields of view rather than overlapping them and creates images without any distortion and perspective errors. Circle Optics’ technology has received $3.7 million in contracts with NASA, Space Force, Air Force, and NSF and aims to improve aircraft navigation and prevent collisions. Zak Niazi founded Circle Optics in December 2017. The current crowdfunding campaign has a minimum target of $150,000 and a maximum target of $1 million. The campaign proceeds will be used for hiring engineers and sales and development employees, prototyping expenses, and marketing.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$424,484 |
$238,966 |
|
COGS |
$355,890 |
$153,561 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-584,308 |
$-660,825 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$159,746 |
$50,599 |
|
Accounts Receivable |
$24,800 |
$46,041 |
|
Total Assets |
$271,490 |
$100,235 |
|
Short-Term Debt |
$964,419 |
$736,447 |
|
Long-Term Debt |
$822,311 |
$655,405 |
|
Total Liabilities |
$1,786,730 |
$1,391,852 |
Financials as of: 01/25/2023
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