Overview

Raised to Date: Raised: $155,889

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

Total Commitments ($USD)

Platform

StartEngine

Start Date

10/20/2021

Close Date

01/20/2022

Min. Goal

$9,997

Max. Goal

$999,991

Min. Investment

$241

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    

Price Per Share

$9.65

Pre-Money Valuation

$22,995,950

Rolling Commitments ($USD)

Status

Funded

Reporting Date

01/30/2022

Days Remaining

Funded

% of Min. Goal

Funded

% of Max. Goal

Funded

Likelihood of Max

Funded

Avg. Daily Raise

$1,713

# of Investors

127

Momentum

Funded

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Enact Systems

Year Founded

2012

Industry

Energy, Power, & Natural Resources

Tech Sector

Cleantech

Distribution Model

B2B/B2C

Margin

High

Capital Intensity

Low

Location

Pleasanton, California

Business Type

Growth

Company Website

Enact Systems, with a valuation of $23 million, is raising funds on StartEngine. The company has developed a cloud storage platform for the solar and energy storage industry. The platform is bringing the power of data and business automation to the renewable energy industry to bring in vertical integration. Enact Systems has already generated $3.5 million in revenue and has global solar industry players as customers. Deep Chakraborty and Manasij Kar founded Enact Systems in 2012. The current crowdfunding campaign has a minimum target of $9,997.40 and a maximum target of $999,990.90. The campaign proceeds will be used for the launch of 3D design capabilities on the ENVISION platform.

Summary Profit and Loss Statement

	Most Recent Year	Prior Year
Revenue	$526,910	$594,196
COGS	$55,072	$20,386
Tax	$0	$0
Net Income	$-421,275	$-509,968

Summary Balance Sheet

	Most Recent Year	Prior Year
Cash	$16,132	$11,055
Accounts Receivable	$295,261	$372,151
Total Assets	$639,125	$445,626
Short-Term Debt	$323,582	$79,446
Long-Term Debt	$1,512,663	$1,530,463
Total Liabilities	$1,836,245	$1,609,909

Financials as of: 10/20/2021

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ENACT Systems Co-founder Deep Chakraborty Is Simplifying Solar

Solar power is becoming increasingly affordable. As more consumers try to make environmentally conscious decisions, installing solar panels at a residence or business seems like an excellent way to make a difference. However, consumers might have difficulty navigating the marketplace and end up spending more than necessary as a result.

ENACT Systems’ platform uses data and software to simplify solar power for both parties of the transaction. The Engage product helps consumers stay informed about solar power purchases from the beginning, and the Envision product allows installers to propose projects and manage their offerings in detail. We reached out to CEO and co-founder Deep Chakraborty to learn more about the inspiration behind the company and how the co-founders came together.

Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.

Read Founder Interview