Echo Mind AI
Early Stage
AI for Musculoskeletal Ultrasound
Overview
Raised: $73,840
Total Commitments ($USD)
Platform
Wefunder
Start Date
03/30/2022
Close Date
08/12/2022
Min. Goal
$50,000
Max. Goal
$1,000,000
Min. Investment
$200
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Early Bird Val. Cap
$9,000,000
Valuation Cap
$11,300,000
Discount
15%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
08/30/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$551
# of Investors
66
Momentum
Funded
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Year Founded
2021
Industry
Healthcare & Pharmaceuticals
Tech Sector
HealthTech
Distribution Model
B2B
Margin
Medium
Capital Intensity
Low
Echo Mind AI, with a valuation of $11.3 million, is raising funds on Wefunder. The company has developed technology that uses AI and ultrasound to capture and provide musculoskeletal pathology predictions. The technology of Echo Mind AI provides extremely effective immediate diagnosis at a super low cost. Echo Mind AI has already achieved 95% prediction accuracy for tendon tears. Max Harker founded Echo Mind AI in June 2021. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1,000,000. The campaign proceeds will be used for salaries for sonographers and the R&D team and operating budgets.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-62,825 |
$0 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$43,841 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$43,841 |
$0 |
|
Short-Term Debt |
$10,000 |
$0 |
|
Long-Term Debt |
$30,000 |
$0 |
|
Total Liabilities |
$40,000 |
$0 |
Financials as of: 03/30/2022
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