Gravity Power


About this raise: Gravity Power, with a valuation of $25.5 million, is raising funds on PicMii. The company is developing energy storage technology that reduces carbon emissions. Gravity Power’s technology raises and lowers a piston hydraulically in an underground shaft to store energy, thereby reducing costs and minimizing environmental impacts. The company is in the pre-revenue stage and has key relationships with leading companies, including Stantec, the Robbins Company, and many more. William Stevens Taber Jr. and Orlo James Fiske founded Gravity Power in November 2008. The current crowdfunding campaign has a minimum target of $9,999.75 and a maximum target of $999,999.75. The campaign proceeds will be used for operations and research and development.

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Investment Overview

Committed this round: $81,829

Deal Terms

Total Commitments ($USD)

Platform
PicMii
Start Date
03/26/2024
Close Date
04/02/2025
Min. Goal
$10,000
Max. Goal
$1,000,000
Min. Investment

$250

Security Type

Equity - Preferred

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$0.75

Pre-Money Valuation

$25,496,381

Company & Team

Company

Year Founded
2008
Industry
Energy, Power, & Natural Resources
Tech Sector
Cleantech
Distribution Model
B2B
Margin
Medium
Capital Intensity
High
Location
Goleta, California
Business Type
Growth
Company Website
Visit Website

Team

Employees
3
Prior Founder Exits?
No
Founder Name
Jim Fiske
Title
CTO

Financials

as of Fiscal Year 2023
 Revenue
$0
 Monthly Burn
$8,000
 Runway
0.3 months

Summary Profit and Loss Statement

FY 2023 FY 2022

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-390,497

$-404,797

Summary Balance Sheet

FY 2023 FY 2022

Cash

$62,725

$864

Accounts Receivable

$0

$0

Total Assets

$155,250

$96,795

Short-Term Debt

$54,886

$1,979,066

Long-Term Debt

$87,992

$1,959,852

Total Liabilities

$142,878

$3,938,918

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$232,625
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
04/02/2025 PicMii $25,496,381 $81,829 Equity - Preferred Active RegCF
12/11/2023 StartEngine $25,209,241 $242,010 Equity - Preferred Funded RegCF
02/08/2019 Netcapital $11,072,292 $0 Equity - Common Not 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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Gravity Power on PicMii 2024
Platform: PicMii
Security Type: Equity - Preferred
Valuation: $25,496,381
Price per Share: $0.75

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