Eyedaptic

Eyedaptic

Closed: Oct. 2021

About this raise

Eyedaptic, with a pre-money valuation of $12 million, is raising crowdfunding on StartEngine. The company is using augmented reality technology to design and manufacture glasses that can improve vision for those suffering from age-related macular degeneration. The EYE2 glasses of Eyedaptic are the only augmented reality glasses in the market that offer 40 degrees field of view to patients. Jay Cormier, Dave Watola, Dr. Mitul Mehta, and Dr. Brian Kim founded Eyedaptic in 2016. The proceeds of the current crowdfunding raise, with a minimum goal of $10,000 and a maximum goal of $1,070,000, will be used for growth, expansion, and the launch of EYE3 and EYE4. Eyedaptic aims to revitalize the lives of many AMD patients and has received several awards from various ophthalmology and technology organizations.

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Investment Overview

Invested this round: $679,038

Deal Terms

Total Commitments ($USD)

Platform
StartEngine
Start Date
01/06/2021
Close Date
10/14/2021
Min. Goal
$10,000
Max Goal
$1,070,000
Min. Investment

$250

Security Type

Equity - Common

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$0.80

Early Bird Valuation

$9,600,000

Pre-Money Valuation

$12,000,000

Company & Team

Company

Year Founded
2016
Industry
Healthcare & Pharmaceuticals
Tech Sector
Medtech
Distribution Model
B2B2C
Margin
Medium
Capital Intensity
High
Location
Laguna Hills, California
Business Type
Growth
Company Website
Visit Website

Team

Employees
4
Prior Founder Exits?
Yes
Founder Name
Jay Cormier
Title
CEO
Founder Name
Dave Watola
Title
CTO
Founder Name
Mitul Mehta
Title
Chief Medical Officer
Founder Name
Dr. Brian Kim
Title
Medical Advisor

Financials

 Revenue
$50,000
 Monthly Burn
$54,488
 Runway
3.4 months
Gross Margin
19%

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$5,580

$0

COGS

$4,522

$0

Tax

$0

$0

 

 

Net Income

$-653,856

$-795,652

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$184,512

$450,608

Accounts Receivable

$0

$0

Total Assets

$212,068

$450,608

Short-Term Debt

$718,457

$23,510

Long-Term Debt

$135,000

$625,000

Total Liabilities

$853,457

$648,510

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$550,000
VC Backed?
Yes
Close Date Platform Valuation Total Raised Security Type Status Reg Type
10/14/2021 StartEngine $12,000,000 $679,038 Equity - Common Funded RegCF
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Eyedaptic on StartEngine
Platform: StartEngine
Security Type: Equity - Common
Valuation: $12,000,000
Price per Share: $0.80

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