HiveTracks
About this raise
HiveTracks, with a valuation of $7.5 million, is raising funds on Wefunder. The company has developed the technology to use bees as biosensors to track biodiversity. The HiveTracks technology is, thus, solving the scalability problem in biodiversity data with its data-driven innovation, along with providing more information related to disease tracking, climate factors, air quality and pollution, and local flowering patterns. HiveTracks has a beekeeper community of more than 20,000, with over 225,000 tracked hives. Max Runzel, James Wilkes, and Laura Dye founded HiveTracks in February 2011. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1.24 million. The campaign proceeds will be used for human resources, sales and marketing, and general and administrative expenses.
Investment Overview
$128,912 - Total
Deal Terms
Total Commitments
- Platform
- Wefunder
- Start Date
- 02/22/2023
- Close Date
- 04/30/2023
$50,000
$1,235,000
$100
SAFE
Early Stage
RegCF
/ RegD 506(c)
$7,500,000
15%
Company & Team
Company
- Year Founded
- 2011
- Industry
- Consumer Products, Goods & Services
- Tech Sector
- Distribution Model
- B2B
- Margin
- High
- Capital Intensity
- Low
Financials
- Revenue +152% YoY
-
$167,716
as of FY2021
- Monthly Burn
-
$19,713
as of FY2021
-
Runway
-
2.7 months
as of FY2021
- Gross Margin
-
75%
as of FY2021
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Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $1,250,837
- VC Backed?
- No
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 04/30/2023 | Wefunder | $7,500,000 | $128,912 | SAFE | Funded | RegCF / RegD 506(c) |
Founder Interview
HiveTracks Founder Max Rünzel on Bees and Biodiversity Management
Biodiversity -- or the tremendous variety of life on Earth -- is an important indicator of the health of our planet. All the plants, animals, insects and microorganisms that exist all around us must maintain a delicate balance in order to survive. Measuring biodiversity is crucial for us to understand how to best care for our environment.HiveTracks is doing its part to make biodiversity measurement a reality. The company harnesses the power of honey bees -- which can detect and respond to environmental and climate impacts earlier than humans can -- to gather data on the environment. Beekeepers can use the HiveTracks app to monitor the health of their hives, gather data on local plant life, and more. KingsCrowd reached out to HiveTracks CEO and co-founder Max Rünzel to learn more about how the company is helping to gather essential environment data -- one bee at a time.
Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.