Drop Delivery

Drop Delivery

Early Stage

Empowering Cannabis Companies To Deliver More

Empowering Cannabis Companies To Deliver More

Overview

Raised to Date: Raised: $201,779

Total Commitments ($USD)

Platform

Republic

Start Date

10/19/2022

Close Date

02/10/2023

Min. Goal
$25,000
Max. Goal
$5,000,000
Min. Investment

$150

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$14,000,000

Valuation Cap

$16,000,000

Discount

0%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

02/27/2023

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$1,770

# of Investors

462

Momentum
Funded
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Year Founded

2019

Industry

Logistics, Delivery, & Supply Chain

Tech Sector

CommerceTech

Distribution Model

B2B

Margin

High

Capital Intensity

Low

Location

Venice, California

Business Type

Growth

Drop Delivery (formerly Drop Technologies), with a valuation of $16 million, is raising funds on Republic. The company provides last-mile delivery to cannabis retailers. The service is available to developing cannabis brands made for both medical and recreational purposes. Drop Technologies works to advertise these companies, deliver their products, and collect digital payments. The company is profitable with $94,000 in MRR and reported a 219% year-over-year revenue growth in 2022. Vanessa Gabriel, Marc Lopez, and Jade Gabriel founded Drop Technologies in 2019. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $5 million. The campaign proceeds will be used to support the strategic expansion into new markets, team growth, and building out new features and products.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$739,264

$240,655

COGS

$0

$0

Tax

$800

$800

 

 

Net Income

$-803,206

$-638,368

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$19,151

$409,131

Accounts Receivable

$7,010

$1,194

Total Assets

$26,161

$413,325

Short-Term Debt

$344,866

$110,319

Long-Term Debt

$36,482

$0

Total Liabilities

$381,348

$110,319

Financials as of: 10/19/2022
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Drop Delivery 02/10/2023 Republic $16,000,000 $201,779 SAFE Funded RegCF
Drop Technologies 07/07/2021 Equifund CFP $8,350,000 $1,070,000 Equity - Common Funded RegCF
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Drop Delivery on Republic 2022
Platform: Republic
Security Type: SAFE
Valuation: $16,000,000

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