Drop Technologies

Drop Technologies

Early Stage

Empowering Cannabis Companies To Deliver More

Empowering Cannabis Companies To Deliver More

Overview

Raised to Date: Raised: $1,070,000

Total Commitments ($USD)

Platform

Equifund

Start Date

07/21/2020

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

Rolling Commitments ($USD)

Status
Funded
Reporting Date

07/30/2021

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

$3,048

# of Investors

1,975

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 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.

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

Financials as of: 07/21/2020
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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 $8,350,000 $1,070,000 Equity - Common Funded RegCF
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Price per Share History

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

Valuation History

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.

Employee History

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

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