Clew
Early Stage
Clew recycles nearly all of your food waste, in under 2 hours, from your countertop
Overview
Raised: $114,701
Total Commitments ($USD)
Platform
Wefunder
Start Date
06/24/2021
Close Date
11/09/2021
Min. Goal
$50,000
Max. Goal
$350,000
Min. Investment
$100
Security Type
Convertible Note
Series
Pre-Seed
SEC Filing Type
RegCF
Valuation Cap
$6,000,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
11/29/2021
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$837
# of Investors
152
Momentum
Funded
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Year Founded
2021
Industry
Consumer Products, Goods & Services
Tech Sector
Hardwaretech
Distribution Model
B2C
Margin
Medium
Capital Intensity
High
Clew, with a $6 million valuation cap, is raising crowdfunding on Wefunder. The company has developed a countertop food waste recycling appliance that recycles all the food waste in less than two hours. The device is used indoors and outdoors and helps in eliminating the smell associated with food waste recycling. Spencer Andrew Martin and Joyce Chiang founded Clew in April 2021. The proceeds of the current crowdfunding round, with a minimum goal of $50,000 and a maximum goal of $450,000, will be used for engineering, design, initial testing, and business operations. Clew has already outperformed its competitor in the proof-of-concept stage with a shorter cycle time and higher efficiency.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-35,888 |
$0 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$55,266 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$55,266 |
$0 |
|
Short-Term Debt |
$8,454 |
$0 |
|
Long-Term Debt |
$50,000 |
$0 |
|
Total Liabilities |
$58,454 |
$0 |
Financials as of: 06/24/2021
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