EncrypGen
Early Stage
You Own You: own and profit from your de-identified data!
Overview
Raised: $1,100
Total Commitments ($USD)
Platform
Fundopolis
Start Date
09/24/2020
Close Date
03/21/2021
Min. Goal
$25,000
Max. Goal
$107,000
Min. Investment
$100
Security Type
Convertible Note
Series
Pre-Seed
SEC Filing Type
RegCF
Valuation Cap
$6,000,000
Discount
20%
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
03/21/2021
Days Remaining
Not Funded
% of Min. Goal
4%
% of Max. Goal
1%
Likelihood of Max
Not Funded
Avg. Daily Raise
$6
# of Investors
2
Momentum
Not Funded
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Year Founded
2018
Industry
Security, Cybersecurity, & Defense
Tech Sector
HealthTech
Distribution Model
B2B/B2C
Margin
High
Capital Intensity
Low
EncrypGen, with a $6 million valuation cap, is raising crowdfunding on Fundopolis. The technology at EncrypGen helps to privately store users’ genetic data so that users can store and sell their de-identified data to researchers in exchange for a cryptocurrency. EncrypGen does not levy any cost to users for storing data but takes 10% of the sale price as a commission. David Koepsell founded EncrypGen in January 2018. The proceeds of the current crowdfunding campaign, with a minimum raise of $25,000 and a maximum raise of $107,000, will be used to acquire new users. EncrypGen has a user base of over 1,100 who have uploaded 767 files that have been purchase 175 times for an average price of $15 each. The company is connecting customers to researchers with total control over rights, privacy, and transparency.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$271,186 |
$281,649 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-271,186 |
$-281,694 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$2,327 |
$4,410 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$2,327 |
$4,410 |
|
Short-Term Debt |
$0 |
$14,416 |
|
Long-Term Debt |
$309,208 |
$25,689 |
|
Total Liabilities |
$309,208 |
$40,105 |
Financials as of: 09/24/2020
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