ioX-Connect

ioX-Connect

Closed: Oct. 2023

About this raise

ioX-Connect, with a valuation of $10 million, is raising funds on Wefunder. The company has developed a single cost-effective platform to collect, analyze, and act on data. The solutions ecosystem of ioX-Connect enables businesses to deploy, collect, analyze, and act on multiple sets of IoT data inside solution suites and alert users to issues, trends, analysis, and response actions. ioX-Connect is led by an experienced team and is generating 75 million data points monthly. Ockert Fourie founded ioX-Connect in December 2019. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1 million. The campaign proceeds will be used for team expansion, research and development, marketing, equipment, and operational expenses.

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Investment Overview

Invested this round: $95,299

Deal Terms

Total Commitments

Platform
Wefunder
Start Date
06/05/2023
Close Date
10/04/2023
Min. Goal
$50,000
Max Goal
$1,000,000
Min. Investment

$100

Security Type

SAFE

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$9,000,000

Valuation Cap

$10,000,000

Discount

20%

Company & Team

Company

Year Founded
2019
Industry
Business Services, Software, & Applications
Tech Sector
EnterpriseTech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
Low
Location
LAKE MARY, Florida
Business Type
High Growth
Company Website
Visit Website

Team

Employees
5
Prior Founder Exits?
No
Founder Name
Ockert Fourie
Title
CEO

Financials

 Revenue +40% YoY
$162,331
as of FY2022
 Monthly Burn
$24,363
as of FY2022
 Runway
0 months
as of FY2022
 Gross Margin
41%
as of FY2022

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$162,331

$116,266

COGS

$96,332

$37,727

Tax

$0

$0

 

 

Net Income

$-292,351

$-110,914

Summary Balance Sheet

FY 2022 FY 2021

Cash

$915

$7,530

Accounts Receivable

$36,201

$36,168

Total Assets

$117,618

$122,264

Short-Term Debt

$329,712

$62,807

Long-Term Debt

$155,624

$134,824

Total Liabilities

$485,336

$197,631

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$0
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
10/04/2023 Wefunder $10,000,000 $95,299 SAFE Funded RegCF
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Add to portfolio
ioX-Connect on Wefunder 2023
Platform: Wefunder
Security Type: SAFE
Valuation: $10,000,000

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Warning: according to the close date for this deal, ioX-Connect may no longer be accepting investments.

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