About this raise

FuelGems, with a valuation of $15 million, is raising funds on StartEngine. The company has developed a fuel additive that improves the cleanliness and performance of diesel, gasoline, and biofuel. The additives of FuelGems are highly effective and affordable and generate up to 1,000% ROI for users. The company has reported a 1,600% prospective client growth over the last year and has over $70 million in revenue potential from pilots. Kirill Gichunts founded FuelGems in March 2019. The current crowdfunding campaign has a minimum target of $9,998.82 and a maximum target of $3.6 million. The campaign proceeds will be used to become the most successful fuel additive worldwide.

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Investment Overview

Invested this round: $180,076

Deal Terms

Total Commitments

Platform
StartEngine
Start Date
10/31/2022
Close Date
02/18/2023
Min. Goal
$9,999
Max Goal
$3,604,524
Min. Investment

$248

Security Type

Equity - Common

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$2.34

Pre-Money Valuation

$15,000,762

Company & Team

Company

Year Founded
2019
Industry
Transportation, Automotive, Aviation, & Aerospace
Tech Sector
Cleantech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
High
Location
Austin, Texas
Business Type
Growth
Company Website
Visit Website

Team

Employees
7
Prior Founder Exits?
Yes
Founder Name
Kirill Gichunts
Title
CEO

Financials

 Revenue
$0
 Cash on Hand
$433,138

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$0

$0

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$433,138

$607,126

Accounts Receivable

$0

$0

Total Assets

$433,138

$626,712

Short-Term Debt

$24,030

$35,384

Long-Term Debt

$0

$0

Total Liabilities

$24,030

$35,384

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$1,901,942
VC Backed?
Yes
Close Date Platform Valuation Total Raised Security Type Status Reg Type
04/26/2025 Republic $17,500,000 $960,362 SAFE Active RegCF
02/18/2023 StartEngine $15,000,762 $180,076 Equity - Common Funded RegCF
04/29/2022 StartEngine $12,000,000 $1,395,837 Equity - Common Funded RegCF
11/20/2020 Wefunder $8,500,000 $791,207 SAFE Funded RegCF
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Growth Charts

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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Add to portfolio
FuelGems on StartEngine 2022
Platform: StartEngine
Security Type: Equity - Common
Valuation: $15,000,762
Price per Share: $2.34

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Follow FuelGems on StartEngine 2022

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Warning: according to the close date for this deal, FuelGems may no longer be accepting investments.

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