Evolution Devices
Early Stage
Enhancing human movement with digital therapy and 3D biomechanics
Overview
Raised: $149,548
Total Commitments ($USD)
Platform
Republic
Start Date
07/06/2023
Close Date
09/05/2023
Min. Goal
$25,000
Max. Goal
$618,000
Min. Investment
$100
Security Type
SAFE
Series
Series A
SEC Filing Type
RegCF
Early Bird Val. Cap
$15,000,000
Valuation Cap
$18,000,000
Discount
0%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
09/30/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$2,452
# of Investors
154
Momentum
Funded
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Year Founded
2017
Industry
Healthcare & Pharmaceuticals
Tech Sector
HealthTech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
Low
Evolution Devices, with a valuation of $18 million, is raising funds on Republic. The company builds devices that enhance human movement using digital therapy and 3D biomechanics. Evolution Devices’ EVOWALK assists in walking rehabilitation using the patented digital therapy solution for foot drop and mobility issues, and EVOVISION provides biomechanics and motion capture for full-body movement. Pierluigi Mantovani, Juan M. Rodriguez, and Lili Karashchuk founded Evolution Devices in July 2017. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $618,000. The campaign proceeds will be used for FDA testing, research and development, sales and marketing, infrastructure, and manufacturing.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$1,832 |
$0 |
|
COGS |
$872 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-351,691 |
$-238,656 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$260,447 |
$98,779 |
|
Accounts Receivable |
$1,933 |
$101 |
|
Total Assets |
$268,173 |
$105,072 |
|
Short-Term Debt |
$203,068 |
$18,567 |
|
Long-Term Debt |
$751,746 |
$421,454 |
|
Total Liabilities |
$954,814 |
$440,021 |
Financials as of: 07/06/2023
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