LeanMed

LeanMed

Closed: Aug. 2022

About this raise

LeanMed, with an $5 million valuation, is raising funds on Wefunder. The company is taking medical products that are used in U.S./EU homes, over-the-counter devices or discontinued product lines to innovate and re-purpose them for life in the rural health centers. The O2 Cube is the first example this. It is a solar powered micro oxygen product that has just been recognized by the WHO as a 2021 Innovative Health Technology for Low Resource Settings as it uses solar energy to power refurbished oxygen concentrators and compressors that bring medical oxygen. The company was founded by Mark. The current round of crowdfunding has a minimum raise of $160,000 and a maximum raise of $250,000. The proceeds will be used for engineering, build, ship and install, and marketing support services.

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Investment Overview

Invested this round: $85,442

Deal Terms

Total Commitments ($USD)

Platform
Wefunder
Start Date
12/20/2021
Close Date
08/05/2022
Min. Goal
$80,000
Max Goal
$250,000
Min. Investment

$100

Security Type

SAFE

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$5,000,000

Discount

10%

Company & Team

Company

Year Founded
2018
Industry
Healthcare & Pharmaceuticals
Tech Sector
Medtech
Distribution Model
B2B
Margin
Low
Capital Intensity
High
Location
Greensburg, Pennsylvania
Business Type
Growth
Company Website
Visit Website

Team

Employees
7
Prior Founder Exits?
No
Founder Name
Mark Adkins
Title
CEO

Financials

 Revenue
$0
 Monthly Burn
$77
 Runway
1.4 months

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$4,000

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-919

$-1,062

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$111

$981

Accounts Receivable

$0

$0

Total Assets

$14,706

$15,005

Short-Term Debt

$4,000

$2,000

Long-Term Debt

$8,685

$8,065

Total Liabilities

$12,685

$10,065

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
08/05/2022 Wefunder $5,000,000 $85,442 SAFE Funded RegCF
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Add to portfolio
LeanMed on Wefunder 2021
Platform: Wefunder
Security Type: SAFE
Valuation: $5,000,000

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