Davenport SAF-T Systems

Davenport SAF-T Systems

Early Stage

The SAF-T VEST will detect a fall and deploy airbags to reduce risk of injury

The SAF-T VEST will detect a fall and deploy airbags to reduce risk of injury

Overview

Raised this Round: Raised: $80,000

Total Commitments ($USD)

Platform

Wefunder

Start Date

06/04/2023

Close Date

12/01/2023

Min. Goal
$50,000
Max. Goal
$124,000
Min. Investment

$100

Security Type

SAFE

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$3,000,000

Valuation Cap

$4,000,000

Discount

20%

Year Founded

2017

Industry

Healthcare & Pharmaceuticals

Tech Sector

HealthTech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

Low

Location

MINNEAPOLIS, Minnesota

Business Type

Growth

Davenport SAF-T Systems, with a valuation of $4 million, is raising funds on Wefunder. The company has developed a system for seniors to reduce devastating fall injuries, cut healthcare costs, and improve quality of life. The company aims to develop a SAF-T Vest solution as a wearable to provide 360-degree fall protection from the hips to the head. Davenport SAF-T Systems has received a US Patent, a state Innovation Grant, and has developed an early prototype. Ryan Davenport and Jay A. Davenport founded Davenport SAF-T Systems in January 2017. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $124,000. The campaign proceeds will be used for prototyping and testing, marketing, customer acquisition, and research.

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$4,339

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-16,277

$-9,268

Summary Balance Sheet

FY 2022 FY 2021

Cash

$230

$0

Accounts Receivable

$0

$0

Total Assets

$7,915

$8,827

Short-Term Debt

$635

$0

Long-Term Debt

$18,000

$0

Total Liabilities

$18,635

$0

Financials as of: 06/04/2023
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Davenport SAF-T Systems on Wefunder 2023
Platform: Wefunder
Security Type: SAFE
Valuation: $4,000,000

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