Innovega

Smart contact lenses and glasses that deliver high-performance AR/VR experiences

Overview

Raised to Date: Raised: $580,719

Total Commitments ($USD)

Platform

StartEngine

Start Date

12/24/2021

Close Date

09/30/2022

Min. Goal

$750,000

Max. Goal

$15,000,000

Min. Investment

$498

Security Type

Equity - Preferred

Series

Series A

SEC Filing Type

RegA+    Open SEC Filing

Price Per Share

$3.00

Pre-Money Valuation

$54,300,000

Rolling Commitments ($USD)

Status
Funded
Reporting Date

10/02/2022

Days Remaining
Funded
% of Min. Goal

77%

% of Max. Goal

4%

Likelihood of Max
Funded
Avg. Daily Raise

$2,074

# of Investors

520

Momentum
Funded
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Year Founded

2008

Industry

Media, Entertainment & Publishing

Tech Sector

Hardwaretech

Distribution Model

B2B

Margin

Low

Capital Intensity

High

Location

Bellevue, Washington

Business Type

Growth

Innovega, with a valuation of $54.3 million, is raising funds on StartEngine through Reg A+ crowdfunding. The company makes and sells smart contact lenses and glasses that deliver high-quality AR/VR experiences. The experience is provided through eMascula, the wearable display system of Innovega. Innovega has 14 issued US patents and 13 pending patents, and the product will be used across all Metaverse markets. Stephen Willey and Jerome Legerton founded Innovega in 2008. The current crowdfunding campaign has a minimum target of $750,000 and a maximum target of $15,000,000. The campaign proceeds will be used for clinical projects, engineering projects, facilities and equipment, and working capital.

Balance Sheet

Cash and Cash Equivalents

$2,036,907

Investment Securities

$0

Total Investments

$0

Accounts and Notes Receivable

$0

Loans

$0

Property, Plant and Equipment (PP&E)

$80,901

Property and Equipment

$0

Total Assets

$2,812,277

Accounts Payable & Accrued Liabilities

$578,436

Policy Liabilities and Accruals

$0

Deposits

$0

Long Term Debt

$1,763,463

Total Liabilities

$2,743,401

Total Stockholders' Equity

$68,876

Total Liabilities and Equity

$2,812,277

Statement of Comprehensive Income Information

Total Revenues

$45,040

Total Interest Income

$0

Costs & Expenses Applicable to Rev

$13,577

Total Interest Expenses

$0

Depreciation and Amortization

$0

Net Income

$-1,308,434

Earnings Per Share - Basic

$-0.14

Earnings Per Share - Diluted

$-0.14

Auditor: FRUCI & ASSOCIATES II, PLLC
Financials as of: 12/24/2021
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Innovega 09/30/2022 StartEngine $54,300,000 $580,719 Equity - Preferred Funded RegA+
Innovega 12/23/2021 SeedInvest $54,269,000 $5,551,837 Equity - Preferred Funded RegA+
Innovega 04/21/2021 SeedInvest $54,269,000 $1,009,902 Equity - Preferred Funded Test the Waters
Innovega 03/26/2019 SeedInvest - $0 Debt Funded RegD 506(c)
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Innovega on StartEngine 2022
Platform: StartEngine
Security Type: Equity - Preferred
Valuation: $54,300,000

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