This company is no longer in business. Investors can get details about any potential exits or failures here.

Future Acres

Future Acres

Early Stage

Autonomous farm tools of tomorrow

Overview

Raised this Round: Raised: $1,518,618

Total Commitments ($USD)

Platform

SeedInvest

Start Date

04/20/2021

Close Date

10/10/2021

Min. Goal
$500,000
Max. Goal
$3,000,000
Min. Investment

$999

Security Type

Equity - Preferred

Series

Seed

SEC Filing Type

RegA+    Open SEC Filing

Price Per Share

$1.66

Pre-Money Valuation

$7,000,000

Year Founded

2017

Industry

Farming & Agriculture

Tech Sector

AgriTech

Distribution Model

B2B

Margin

Medium

Capital Intensity

High

Location

Santa Monica, California

Business Type

Growth

Future Acres, with a pre-money valuation of $7 million, is raising crowdfunding on SeedInvest through Reg A+ crowdfunding. 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. Suma Reddy founded Future Acres in 2017 and has raised over $500,000 in previous rounds of financing. The current crowdfunding round has a minimum raise of $500,000 and a maximum raise of $3,000,000, and the funds will be used for product development, payroll, marketing, and general and administrative expenses. Future Acres is backed by Wavemaker Partners, a global venture capital company, and led by an experienced and passionate team.

Balance Sheet

Cash and Cash Equivalents

$690

Investment Securities

$0

Accounts and Notes Receivable

$49,651

Property, Plant and Equipment (PP&E)

$0

Total Assets

$50,341

Accounts Payable & Accrued Liabilities

$49,550

Long Term Debt

$440,192

Total Liabilities

$489,742

Total Stockholders' Equity

$-439,401

Total Liabilities and Equity

$50,341

Statement of Comprehensive Income Information

Total Revenues

$0

Costs & Expenses Applicable to Rev

$0

Depreciation and Amortization

$0

Net Income

$-105,566

Earnings Per Share - Basic

$-0.04

Earnings Per Share - Diluted

$-0.04

Financials as of: 04/20/2021
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Future Acres 05/04/2023 Dalmore Group $9,861,993 $67,801 Equity - Common Funded RegA+
Future Acres 10/09/2021 SeedInvest $7,000,000 $1,518,618 Equity - Preferred Funded RegA+
Future Acres 04/20/2021 SeedInvest $7,000,000 $341,333 Equity - Preferred Funded Test the Waters
Hitch Robotics 02/16/2020 SeedInvest $10,000,000 $0 Convertible Note Not Funded RegCF / RegD 506(c)
Hitch 11/24/2019 SeedInvest $10,000,000 $206,000 Convertible Note Not Funded RegCF / RegD 506(c)
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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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Future Acres on SeedInvest
Platform: SeedInvest
Security Type: Equity - Preferred
Valuation: $7,000,000
Price per Share: $1.66

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