EarthGrid

Growth Stage

Tunnel-boring technology

Overview

Raised to Date: Raised: $289,286

Total Commitments ($USD)

Platform

Netcapital

Start Date

11/14/2022

Close Date

03/10/2023

Min. Goal

$10,004

Max. Goal

$4,999,998

Min. Investment

$101

Security Type

Equity - Common

Series

Seed

Funding Type

RegCF

Price Per Share

$4.38

Pre-Money Valuation

$60,006,000

Rolling Commitments ($USD)

Status

Active

Reporting Date

02/02/2023

Days Remaining

36

% of Min. Goal

2,892%

% of Max. Goal

6%

Likelihood of Max
unlikely
Avg. Daily Raise

$3,616

Momentum
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Location

Richmond, California

Industry

Energy, Power, & Natural Resources

Tech Sector

Cleantech

Distribution Model

B2B

Margin

Low

Capital Intensity

High

Business Type

Growth

EarthGrid, with a valuation of $60 million, is raising funds on NetCapital. The company has designed its tunnel-boring technology to create an underground network of tunnels. The technology of EarthGrid aims to create a network of underground utility tunnels bored by a plasma tunnel boring robot, making the process faster, more efficient, and less costly. EarthGrid works on Boring and Drilling as a Simple Service (B.A.D.A.S.S.) and Build Own Operate & Maintain (B.O.O.M.) model to eliminate fossil fuels and offer ultra-high-speed Internet, sustainable clean water, transportation, and delivery services. Troy Helming and Scott Lane founded EarthGrid in September 2016. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $5 million. The campaign proceeds will be used for the tunnel boring machine, plant equipment, and compensation for managers.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$31,139

$22,000

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-273,604

$2,038

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$14,111

$2,038

Accounts Receivable

$4,725

$0

Total Assets

$184,208

$58,038

Short-Term Debt

$225,143

$0

Long-Term Debt

$0

$0

Total Liabilities

$225,143

$0

Financials as of: 11/14/2022
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EarthGrid on NetCapital 2022
$
Platform: Netcapital
Security Type: Equity - Common
Valuation: $60,006,000

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