Drop Technologies

Drop Technologies

Closed: Jul. 2021

About this raise

Drop Technologies, with a valuation of $8.35 million, is raising crowdfunding on Equifund CFP. 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 for advertising these companies, delivering their products, and collecting digital payments. The company was founded by Vanessa Gabriel in 2019. The current crowdfunding round has a minimum target of $25,000 and a maximum target of $1,070,000, and the funds will be used for growth and expansion. Drop Technologies’ delivery service is already being used by over 96,000 retail customers and has processed $6 million in transactions in 2020.

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Investment Overview

Invested this round: $1,070,000

Deal Terms

Total Commitments ($USD)

Platform
Equifund
Start Date
07/22/2020
Close Date
07/08/2021
Min. Goal
$25,000
Max Goal
$1,070,000
Min. Investment

$100

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$0.75

Pre-Money Valuation

$8,350,000

Company & Team

Company

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
Company Website
Visit Website

Team

Employees
4
Prior Founder Exits?
Yes
Founder Name
Vanessa Gabriel
Title
CEO

Financials

 Revenue
$24,893
 Monthly Burn
$630
 Runway
2.3 months

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$24,893

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-7,555

$0

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$1,450

$0

Accounts Receivable

$0

$0

Total Assets

$1,450

$0

Short-Term Debt

$0

$0

Long-Term Debt

$9,006

$0

Total Liabilities

$9,006

$0

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Company Funding & Growth

Funding history

Offering Name Close Date Platform Valuation Total Raised Security Type Status Reg Type
Drop Delivery 02/11/2023 Republic $16,000,000 $201,779 SAFE Funded RegCF
Drop Technologies 07/08/2021 Equifund $8,350,000 $1,070,000 Equity - Common Funded RegCF
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Growth Charts

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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Add to portfolio
Drop Technologies on Equifund CFP
Platform: Equifund
Security Type: Equity - Common
Valuation: $8,350,000
Price per Share: $0.75

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Follow Drop Technologies on Equifund CFP

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Warning: according to the close date for this deal, Drop Technologies may no longer be accepting investments.

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