LockedBrands
[Closed for Investment] LockedBrands, with a $7 million valuation cap, is raising funds on Wefunder. The company makes smart lockbox systems that make households safer by providing secure storage for opioids. The Gen 1 device of LockedBrands, The Pillar, stores medicines and valuables in an app-controlled and voice-activated personal lockbox. The second-generation device, Secure Med Manager, helps in secure storage and dispensing of medicines. Justine Monger founded LockedBrands in June 2019 and has raised over $1 million since its inception. The proceeds of the current crowdfunding round, with a minimum target of $150,000 and a maximum target of $1,070,000, will be used for marketing, Pillar product development, and detailed design and prototype development of Secure Med Manager. LockedBrands is led by a team of senior tech professionals, doctors, and entrepreneurs and is reaching a huge market.
Investment Overview
Raised: $194,065
Deal Terms
Total Commitments ($USD)
- Platform
- Wefunder
- Start Date
- 08/28/2020
- Close Date
- 01/31/2021
$150,000
$1,070,000
$250
Convertible Note
Seed
RegCF
$7,000,000
15%
Company & Team
Company
- Year Founded
- 2019
- Industry
- Security, Cybersecurity, & Defense
- Tech Sector
- Distribution Model
- B2B/B2C
- Margin
- Medium
- Capital Intensity
- High
Team
- Employees
- 6
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Company Funding & Growth
Funding history
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 01/31/2021 | Wefunder | $7,000,000 | $194,065 | Convertible Note | Funded | RegCF |