EarthGrid

EarthGrid

Growth Stage

Tunnel-boring technology

Tunnel-boring technology

Overview

Raised this Round: Raised: $35,371

Total Commitments ($USD)

Platform

Netcapital

Start Date

05/22/2024

Close Date

07/26/2024

Min. Goal
$10,005
Max. Goal
$2,996,400
Min. Investment

$99

Security Type

Equity - Common

Series

Series C

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$5.50

Pre-Money Valuation

$80,412,096

Year Founded

2016

Industry

Energy, Power, & Natural Resources

Tech Sector

Cleantech

Distribution Model

B2B

Margin

Medium

Capital Intensity

High

Location

Richmond, California

Business Type

Growth

EarthGrid, with a valuation of $80.4 million, is raising funds on NetCapital. The company has designed its tunnel-boring technology to create an underground network of tunnels. EarthGrid’s technology 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. The company 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 $10,004.50 and a maximum target of $2.9 million. The campaign proceeds will be used for capital equipment, state CPCN filings and license acquisitions, integrated seismic prediction development and startup costs, and wholly-owned line construction.

Summary Profit and Loss Statement

FY 2023 FY 2022

Revenue

$391,255

$1,711

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-12,883,069

$-6,558,646

Summary Balance Sheet

FY 2023 FY 2022

Cash

$7,688,621

$397,097

Accounts Receivable

$301,623

$0

Total Assets

$1,861,515

$1,861,515

Short-Term Debt

$26,664

$74,309

Long-Term Debt

$21,474,836

$5,625,730

Total Liabilities

$21,501,500

$5,700,039

Financials as of: 05/22/2024
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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 $35,371 Equity - Common Active RegCF
EarthGrid 08/30/2023 Netcapital $60,006,000 $3,346,521 Equity - Common Funded RegCF
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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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EarthGrid on NetCapital 2024
Platform: Netcapital
Security Type: Equity - Common
Valuation: $80,412,096
Price per Share: $5.50

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