Hitch
Early Stage
Electric, fully autonomous farming transport system
Overview
$0 - RegCF
$206,000 - Total
$206,000 - Total
Total Commitments ($USD)
Platform
SeedInvest
Start Date
10/08/2019
Close Date
11/25/2019
Min. Goal
$25,000
Max. Goal
$1,070,000
Min. Investment
$1,000
Security Type
Convertible Note
SEC Filing Type
RegCF
/ RegD 506(c)
Valuation Cap
$10,000,000
Discount
0%
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
11/24/2019
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$0
Momentum
Not Funded
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Year Founded
2017
Industry
Farming & Agriculture
Tech Sector
AgriTech
Location
Santa Monica, California
Hitch, with a valuation cap of $10 million, is raising crowdfunding on SeedInvest. The company has developed electric and fully-autonomous robots for the agriculture and farming industry. By using the Hitch robots, farms can automate their transport systems, and reduce labor requirements and increase productivity by 40%. Hitch was founded by Nick Giancola and Ethan Joffe and raised $313,000 in the pre-seed round of funding in 2018. The current crowdfunding round has a total size of $2 million, and the proceeds will be used for product development, marketing, payroll, and G&A expenses. Hitch has signed a letter of intent with HMC Farms for 100 robots and has also signed another LOI with the same company for partnership in research & development.
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Raise History
| Offering Name | Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| Future Acres | 05/05/2023 | Dalmore Group | $9,861,993 | $67,801 | Equity - Common | Funded | 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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