iGrow Systems
Early Stage
Automated UltraSonic Fog Growing System for Home & Commercial
Overview
Raised: $0
Total Commitments ($USD)
Platform
Fundanna
Start Date
06/02/2020
Close Date
08/26/2020
Min. Goal
$10,000
Max. Goal
$500,000
Min. Investment
$300
Security Type
Equity - Common
Series
Seed
SEC Filing Type
RegCF
Price Per Share
$0.10
Pre-Money Valuation
$4,635,000
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
08/25/2020
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
2018
Industry
Alcohol, Tobacco, & Recreational Drugs
Tech Sector
AgriTech
Distribution Model
B2C
Margin
Medium
Capital Intensity
High
iGrow Systems, with a pre-money valuation of $4.6 million, is raising funds on Fundanna. The company’s patent-pending technology allows users to cultivate high-quality cannabis at home. The system is fully automated and uses ultrasonic and fogponic technology. The high-end Grow Box enables cannabis to be of top quality and grow faster. iGrow Systems was founded by Itay Zamir in 2018. The current round of crowdfunding of the company has a minimum goal of $10,000 and a maximum goal of $500,000, and the funds will be used for product development, manufacturing, marketing, events and travel, and hiring. iGrow Systems has developed the first fully automated grow-box for cannabis that helps to grow cannabis in less space, with less water, and higher yield.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-280,557 |
$-28,080 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$1,080 |
$2,269 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$4,552 |
$5,711 |
|
Short-Term Debt |
$104,868 |
$15,000 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$104,868 |
$15,000 |
Financials as of: 06/02/2020
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