LEXI

Growth Stage

IoT Platform-as-a-Service

Analytics

Raised to Date: Raised: $131,365

Aggregate Commitments $

Platform

Republic

Start Date

08/29/2022

Close Date

04/30/2023

Min. Goal

$25,000

Max. Goal

$1,070,000

Min. Investment

$100

Security Type

SAFE

Funding Type

RegCF

Series

Seed

Valuation Cap

$30,000,000

Discount Rate

0%

Rolling Commitments $

Status

Active

Reporting Date

11/30/2022

Days Remaining

151

% of Min. Goal

525%

% of Max. Goal

12%

Likelihood of Max
unlikely
Avg. Daily Raise

$1,413

# of Investors

225

Momentum
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Location

Berkeley, California

Industry

Business Services, Software, & Applications

Tech Sector

EnterpriseTech

Distribution Model

B2B2C

Margin

Low

Capital Intensity

Low

Business Type

Growth

LEXI, with a valuation of $30 million, is raising funds on Republic. It is an enterprise IoT edge-to-cloud platform that is universal, interoperable, multi-protocol, and intelligent. The platform is used for wireless protocol support and forward compatibility, major ecosystems coverage, and machine learning to enhance UX. The LEXI platform is being deployed into several business segments, including smart buildings, smart homes, smart agriculture, industrial control, and environmental monitoring. Scott Cahill and Deepak Saxena founded LEXI in December 2017. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $1,070,000. The campaign proceeds will be used for IT and cloud, marketing, sales, software development, product, account management, and customer service.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$2,535,276

$52,116

COGS

$1,636,252

$90,980

Tax

$0

$0

 

 

Net Income

$-97,127

$-784,404

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$673,911

$105,073

Accounts Receivable

$1,335,300

$0

Total Assets

$2,145,277

$278,718

Short-Term Debt

$930,440

$396,729

Long-Term Debt

$150,000

$150,000

Total Liabilities

$1,080,440

$546,729

Financials as of: 08/29/2022
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Ratings KingsCrowd Startup Rating Methodology Article

Analyst Report Analyst Report Methodology Article

Would you tolerate being forced to buy all your new kitchen appliances from just one brand even though, say, the company that makes your coffee maker doesn’t make a very good refrigerator?

Of course not. But that’s exactly what’s happened. Consumers have to commit to a single ecosystem: Google’s Home, Amazon’s Alexa, or Apple’s Homekit. This walled garden extends to product choices as well, such as Philips Hue, Ring, Nest, and others.

And so, consumers pay the price. Those who dare buy smart devices from more than one brand are stuck with devices that can’t work together. And those who have committed to a single brand have a limited range of products to choose from.

That’s a big problem. And right now, LEXI is the only company that has figured out how to fix it. Its technology — featuring a universal IoT gateway — is truly agnostic. (IoT gateways are often required in smart home protocols. A universal IoT gateway serves a secondary purpose of interconnecting different wireless protocols.)

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LEXI on Republic 2022
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Platform: Republic
Security Type: SAFE
Valuation: $30,000,000

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