Intec Bioplastics

Intec Bioplastics

Closed: Nov. 2024

About this raise

Intec Bioplastics, with a valuation of $475.4 million, is raising funds on Andes Capital. It is a bio-resin engineering company that helps customers achieve their sustainability goals of net zero carbon footprint. Intec Bioplastics’ patented technology enables it to manufacture EarthPlus, the plant-based resins, which can be used for products that are manufactured through blow molding, injection molding, thermoform, and roll holding processes. The company has over 590 different EarthPlus bio-resin formulas, all of which are FDA food-grade compliant. Jason Baum founded Intec Bioplastics in December 2019. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $5 million. The campaign proceeds will be used for an extrusion compounding line, a thermoform sheet line, a thermoform line, IP, patents, and trademarks, molds, material, and general working capital.

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Investment Overview

Invested this round: $32,600

Deal Terms

Total Commitments

Platform
Andes Capital
Start Date
08/06/2024
Close Date
11/02/2024
Min. Goal
$10,000
Max Goal
$5,000,000
Min. Investment

$250

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.00

Pre-Money Valuation

$475,412,500

Company & Team

Company

Year Founded
2019
Industry
Consumer Products, Goods & Services
Tech Sector
Cleantech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
High
Location
Santa Monica, California
Business Type
Growth
Company Website
Visit Website

Team

Employees
12
Prior Founder Exits?
No
Founder Name
Edward Showalter

Financials

as of July 12, 2024
 Revenue
$0
 Monthly Burn
$104,632
 Runway
1 months

Summary Profit and Loss Statement

FY 2023 FY 2022

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-7,438,869

$-2,345,130

Summary Balance Sheet

FY 2023 FY 2022

Cash

$38,494

$21,690

Accounts Receivable

$0

$0

Total Assets

$38,494

$21,690

Short-Term Debt

$9,922,733

$2,467,060

Long-Term Debt

$0

$0

Total Liabilities

$9,922,733

$2,467,060

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$3,739,500
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
11/02/2024 Andes Capital $475,412,500 $32,600 Equity - Common Funded RegCF
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Add to portfolio
Intec Bioplastics on Andes Capital 2024
Platform: Andes Capital
Security Type: Equity - Common
Valuation: $475,412,500
Price per Share: $1.00

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Follow Intec Bioplastics on Andes Capital 2024

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Warning: according to the close date for this deal, Intec Bioplastics may no longer be accepting investments.

Intec Bioplastics Deal Report

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