Liteboxer

Liteboxer

Closed: Nov. 2022

About this raise

Liteboxer, with a valuation of $81.99 million, is raising funds on StartEngine. It is an at-home virtual reality-based workout program that is bringing real fitness to the metaverse. The platform enables users to get interactive and effective one-on-one trainer workouts from their home without the need for additional hardware. Liteboxer has reported over 600,000 downloads since March 2022 and is listed as one of the most popular apps in the Meta Quest store. Jeffrey William Morin and Todd Dagres founded Liteboxer in January 2016. The current crowdfunding campaign has a minimum target of $9,991.12 and a maximum target of $4.9 million. The campaign proceeds will be used to grow the team, bring the business to new virtual platforms, and develop new apps.

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Investment Overview

Not Funded: $17,496

Deal Terms

Total Commitments

Platform
StartEngine
Start Date
10/25/2022
Close Date
11/16/2022
Min. Goal
$9,991
Max Goal
$4,999,993
Min. Investment

$493

Security Type

Equity - Common

Company Stage

Growth Stage

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$17.59

Pre-Money Valuation

$81,992,971

Company & Team

Company

Year Founded
2016
Industry
Fitness & Wellness
Tech Sector
HealthTech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
Location
Hampton, New Hampshire
Business Type
Growth
Company Website
Visit Website

Team

Employees
31
Prior Founder Exits?
No
Founder Name
Jeffrey Morin
Title
CEO
Founder Name
Todd Dagres
Title
Chairman

Financials

 Revenue +623% YoY
$3,741,702
 Monthly Burn
$1,168,281
 Runway
5.7 months

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$3,741,702

$517,808

COGS

$5,409,400

$973,194

Tax

$0

$0

 

 

Net Income

$-14,019,367

$-3,670,534

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$6,637,655

$2,489,934

Accounts Receivable

$74,325

$18,258

Total Assets

$10,497,484

$3,629,868

Short-Term Debt

$1,038,773

$0

Long-Term Debt

$5,344,891

$3,890,623

Total Liabilities

$6,383,664

$3,890,623

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$26,000,000
VC Backed?
Yes
Close Date Platform Valuation Total Raised Security Type Status Reg Type
11/16/2022 StartEngine $81,992,971 $17,496 Equity - Common Not Funded RegCF
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Add to portfolio
Liteboxer on StartEngine 2022
Platform: StartEngine
Security Type: Equity - Common
Valuation: $81,992,971
Price per Share: $17.59

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