Liteboxer
Growth Stage
The leader in VR trainer-led fitness
Overview
Raised: $17,496
Total Commitments ($USD)
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
Series
Series A
Funding Type
RegCF
Price Per Share
$17.59
Pre-Money Valuation
$81,992,971
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
11/20/2022
Days Remaining
Not Funded
% of Min. Goal
175%
% of Max. Goal
0%
Likelihood of Max
Not Funded
Avg. Daily Raise
$795
# of Investors
13
Momentum
Not Funded
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Location
Hampton, New Hampshire
Industry
Fitness & Wellness
Tech Sector
HealthTech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
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.
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 |
Financials as of: 10/25/2022
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