Overview

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

Total Commitments ($USD)

Platform

Wefunder

Start Date

02/21/2023

Close Date

04/30/2023

Min. Goal

$50,000

Max. Goal

$1,235,000

Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF / RegD 506(c)    

Valuation Cap

$7,500,000

Discount

15%

Rolling Commitments ($USD)

Status

Funded

Reporting Date

04/30/2023

Days Remaining

Funded

% of Min. Goal

Funded

% of Max. Goal

Funded

Likelihood of Max

Funded

Avg. Daily Raise

$1,029

# of Investors

121

Momentum

Funded

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HiveTracks

Year Founded

2011

Industry

Consumer Products, Goods & Services

Tech Sector

Biotech

Distribution Model

B2B

Margin

High

Capital Intensity

Low

Location

Creston, North Carolina

Business Type

High Growth

Company Website

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.

Summary Profit and Loss Statement

	FY 2021	FY 2020
Revenue	$167,716	$66,518
COGS	$42,408	$19,300
Tax	$0	$0
Net Income	$-236,558	$-78,533

Summary Balance Sheet

	FY 2021	FY 2020
Cash	$52,464	$24,420
Accounts Receivable	$0	$0
Total Assets	$571,431	$66,643
Short-Term Debt	$148,530	$2,209
Long-Term Debt	$643,644	$48,619
Total Liabilities	$792,174	$50,828

Financials as of: 02/21/2023

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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.

Read Founder Interview