Joule Case

Overview

Raised to Date: Raised: $1,058,090

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

Funding History

Total Commitments ($USD)

Platform

Wefunder

Start Date

11/14/2022

Close Date

02/07/2023

Min. Goal

$250,001

Max. Goal

$3,753,000

Min. Investment

$100

Security Type

Equity - Common

Series

Seed

Funding Type

RegCF

Price Per Share

$2.04

Pre-Money Valuation

$34,967,760

Venture Capital Investors:

Newchip Journey Venture Partners

Rolling Commitments ($USD)

Status

Active

Reporting Date

02/02/2023

Days Remaining

5

% of Min. Goal

423%

% of Max. Goal

28%

Likelihood of Max

Avg. Daily Raise

$13,226

# of Investors

1,156

Momentum

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Joule Case

Location

Seattle, Washington

Industry

Energy, Power, & Natural Resources

Tech Sector

Cleantech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

High

Business Type

Growth

SEC Filing

Company Website

Joule Case, with a valuation of $34.97 million, is raising funds on Wefunder. The company has developed a patented technology to provide portable and scalable power to the event-power industry. The power technology of Joule Case is green, clean, highly functional, and economical. Joule Case powers big music festivals, including Burning Man and EDC, and has generated $1.8 million in sales since its inception, with a 200% year-over-year growth rate. James Wagoner founded Joule Case in January 2018. The current crowdfunding campaign has a minimum target of $250,000 and a maximum target of $3.75 million. The campaign proceeds will be used for manufacturing, sales, R&D, and marketing.

Summary Profit and Loss Statement

	Most Recent Year	Prior Year
Revenue	$284,275	$158,940
COGS	$194,043	$107,206
Tax	$3,808	$196
Net Income	$-1,887,104	$-874,588

Summary Balance Sheet

	Most Recent Year	Prior Year
Cash	$-3,424	$88,923
Accounts Receivable	$17,149	$789
Total Assets	$879,462	$1,094,349
Short-Term Debt	$2,134,809	$1,614,603
Long-Term Debt	$394,249	$888,030
Total Liabilities	$2,529,058	$2,502,633

Financials as of: 11/14/2022

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Raise History

Offering Name	Close Date	Platform	Valuation/Cap	Total Raised	Security Type	Status	Reg Type
Joule Case	02/07/2023	Wefunder	$34,967,760	$1,058,090	Equity - Common	Active	RegCF
Joule Case	04/22/2022	Wefunder	$29,922,109	$997,379	Equity - Common	Funded	RegCF

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The most common method for short-term energy storage is the lithium-ion battery. There are so many lithium-ion battery startups on the market that it’s hard to keep up. But Joule Case is different from most of the solutions I’ve encountered. 

Its batteries are portable, stackable, and range in size from small 500-watt batteries to container-sized 540-kilowatt batteries. They can be charged with solar panels — which most customers do — or just plugged into the grid. Joule Case’s batteries are separable from the plug and buttons, so customers can connect them together like Legos depending on their needs, using more batteries for more energy. Joule Case’s modular and portable features are a distinctive — and patented — technological advantage over alternative solutions. 

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