Future Acres
Autonomous farm tools of tomorrow
Analytics
Raised: $44,846
Aggregate Commitments $
Platform
Dalmore Group
Start Date
06/08/2022
Close Date
06/08/2023
Min. Goal
$499
Max. Goal
$5,000,000
Min. Investment
$499
Security Type
Equity - Common
Funding Type
RegA+
Series
Seed
Price Per Share
$1.87
Pre-Money Valuation
$9,861,993
Rolling Commitments $
Status
Active
Reporting Date
06/25/2022
Days Remaining
348
% of Min. Goal
8,982%
% of Max. Goal
1%
Likelihood of Max
Avg. Daily Raise
$2,638
Momentum
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Location
Santa Monica, California
Industry
Farming & Agriculture
Tech Sector
AgriTech
Distribution Model
B2B
Margin
Medium
Capital Intensity
High
Future Acres is raising funds through Reg A+ crowdfunding with Dalmore Group as the Broker Dealer. The company is developing an autonomous farm tool called Carry. Carry finds rows, goes to pickers, waits for the crop to be loaded, and transports the load from the rows to their destination. The aim of Future Acres is to build autonomous robotic solutions to automate the production of specialty crops. Suma Reddy founded Future Acres in 2017. The current crowdfunding campaign has a maximum target of $5,000,000. The campaign proceeds will be used for product development, personnel, and general overhead.
Balance Sheet
|
Cash and Cash Equivalents |
$2,201 |
| Total Assets |
$2,201 |
|
Accounts Payable & Accrued Liabilities |
$555,662 |
|
Long Term Debt |
$217,052 |
|
Total Liabilities |
$772,714 |
|
Total Stockholders' Equity |
$-770,513 |
| Total Liabilities and Equity |
$2,201 |
Statement of Comprehensive Income Information
| Net Income |
$-2,083,436 |
|
Earnings Per Share - Basic |
$-2.38 |
|
Earnings Per Share - Diluted |
$-2.38 |
Auditor: Artesian CPA
Financials as of: 06/08/2022
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Raise History
| Offering Name | Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| Future Acres | 06/08/2023 | Dalmore Group | $9,861,993 | $44,846 | Equity - Common | Active | RegA+ |
| Future Acres | 10/10/2021 | SeedInvest | $7,000,000 | $1,518,618 | Equity - Preferred | Funded | RegA+ |
| Future Acres | 04/21/2021 | SeedInvest | $7,000,000 | $341,333 | Equity - Preferred | Funded | Test the Waters |
| Hitch Robotics | 02/17/2020 | SeedInvest | $10,000,000 | $0 | Convertible Note | Not Funded | RegCF / RegD 506(c) |
| Hitch | 11/25/2019 | SeedInvest | $10,000,000 | $206,000 | Convertible Note | Not Funded | RegCF / RegD 506(c) |
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