MAGFAST

MAGFAST

Early Stage

MAGFAST is a revolutionary new family of wireless magnetic chargers that change charging for good.

MAGFAST is a revolutionary new family of wireless magnetic chargers that change charging for good.

Overview

Raised this Round: Raised: $4,775,286

Total Commitments ($USD)

Platform

Netcapital

Start Date

11/10/2021

Close Date

04/29/2022

Min. Goal
$10,004
Max. Goal
$4,999,986
Min. Investment

$100

Security Type

Equity - Common

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$14.23

Pre-Money Valuation

$30,003,172

Year Founded

2017

Industry

Consumer Products, Goods & Services

Tech Sector

Hardwaretech

Distribution Model

B2C

Margin

Medium

Capital Intensity

Low

Location

Cornwall on Hudson, New York

Business Type

Growth

MAGFAST, with a valuation of $30 million, is testing the waters on NetCapital. The electronics company designs and manufactures premium magnetic charging products that are changing charging for good. The chargers of MAGFAST charge wirelessly and support every device from every brand. MAGFAST test-launched in 2017 and generated pre-orders worth $600,000 in the first 24 hours. The company has received pre-orders worth over $13 million to date. Seymour Segnit and Any Rau Segnit founded MAGFAST in 2017. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $3,948,398. The campaign proceeds will be used for tooling, manufacturing, materials, product certification, research and development, and sales.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-4,811,177

$-2,406,931

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$1,650,223

$451,398

Accounts Receivable

$0

$0

Total Assets

$2,883,896

$1,462,166

Short-Term Debt

$127,084

$127,084

Long-Term Debt

$0

$0

Total Liabilities

$127,084

$127,084

Financials as of: 11/10/2021
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
MAGFAST 05/16/2024 Netcapital $40,254,171 $1,310,739 Equity - Common Funded RegCF
MAGFAST 04/30/2023 Netcapital $37,199,555 $1,546,212 Equity - Common Funded RegCF
MAGFAST 04/28/2022 Netcapital $30,003,172 $4,775,286 Equity - Common Funded RegCF
MAGFAST 12/16/2020 Netcapital $20,000,000 $1,055,250 Equity - Common Funded RegCF
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Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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MAGFAST on NetCapital 2021
Platform: Netcapital
Security Type: Equity - Common
Valuation: $30,003,172
Price per Share: $14.23

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