Lightning Clean

Lightning Clean

Closed: Aug. 2022

About this raise

Lightning Clean, with a valuation of $14.3 million, is raising funds on StartEngine. The company is developing an all-in-one washing machine utilizing cutting-edge technology and a compact design. The washing machine, Lightning One, uses Detergent Osmosis and high-torque technology and is capable of a 10-minute wash and 20-minute drying cycle. Lightning Clean’s product is in the prototype phase of development and aims to fit the needs of modern homeowners. Ethan Blount founded Lightning Clean in February 2022. The current crowdfunding campaign has a minimum target of $9,998.38 and a maximum target of $1,069,998.02. The campaign proceeds will be used for extensive tooling, staffing for distribution and operations, and legal fees for patents and IP protection.

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Investment Overview

Invested this round: $106,396

Deal Terms

Total Commitments

Platform
StartEngine
Start Date
04/28/2022
Close Date
08/25/2022
Min. Goal
$9,998
Max Goal
$1,069,998
Min. Investment

$119

Security Type

Equity - Common

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$2.38

Pre-Money Valuation

$14,280,000

Company & Team

Company

Year Founded
2022
Industry
Consumer Products, Goods & Services
Tech Sector
Hardwaretech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
High
Location
Eagle, Idaho
Business Type
Growth
Company Website
Visit Website

Team

Employees
3
Prior Founder Exits?
No
Founder Name
Ethan Blount
Title
CEO & Director

Financials

 Revenue
$0
 Monthly Burn
$11,456
 Runway
0 months

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-137,469

$-20,000

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$9

$10

Accounts Receivable

$0

$0

Total Assets

$19,319

$1,067

Short-Term Debt

$84,409

$20,000

Long-Term Debt

$0

$0

Total Liabilities

$84,409

$20,000

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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
08/25/2022 StartEngine $14,280,000 $106,396 Equity - Common Funded RegCF
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Add to portfolio
Lightning Clean on StartEngine 2022
Platform: StartEngine
Security Type: Equity - Common
Valuation: $14,280,000
Price per Share: $2.38

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Follow Lightning Clean on StartEngine 2022

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

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