Davenport SAF-T Systems
Early Stage
The SAF-T VEST will detect a fall and deploy airbags to reduce risk of injury
Overview
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
Early Bird Val. Cap
$3,000,000
Valuation Cap
$4,000,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
12/30/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$447
# of Investors
89
Momentum
Funded
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Year Founded
2017
Industry
Healthcare & Pharmaceuticals
Tech Sector
HealthTech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
Low
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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