EarthGrid

EarthGrid

Growth Stage

Tunnel-boring technology

Tunnel-boring technology

Overview

Raised this Round: Raised: $3,346,521

Total Commitments ($USD)

Platform

Netcapital

Start Date

11/13/2022

Close Date

08/31/2023

Min. Goal
$10,004
Max. Goal
$4,999,998
Min. Investment

$101

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$4.38

Pre-Money Valuation

$60,006,000

Year Founded

2016

Industry

Energy, Power, & Natural Resources

Tech Sector

Cleantech

Distribution Model

B2B

Margin

Low

Capital Intensity

High

Location

Richmond, California

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

FY 2022 FY 2021

Revenue

$1,711

$31,139

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-6,558,646

$-273,604

Summary Balance Sheet

FY 2022 FY 2021

Cash

$397,096

$14,111

Accounts Receivable

$0

$4,725

Total Assets

$1,861,515

$184,208

Short-Term Debt

$74,309

$225,143

Long-Term Debt

$5,625,730

$0

Total Liabilities

$5,700,039

$225,143

Financials as of: 11/13/2022
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
EarthGrid 07/25/2024 Netcapital $80,412,096 $30,030 Equity - Common Active RegCF
EarthGrid 08/30/2023 Netcapital $60,006,000 $3,346,521 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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EarthGrid on NetCapital 2022
Platform: Netcapital
Security Type: Equity - Common
Valuation: $60,006,000
Price per Share: $4.38

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Follow EarthGrid on NetCapital 2022

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