MAGFAST
MAGFAST is a revolutionary new family of wireless magnetic chargers that change charging for good.
Analytics
Raised: $4,775,286
Aggregate Commitments $
Platform
Netcapital
Start Date
11/11/2021
Close Date
04/29/2022
Min. Goal
$10,004
Max. Goal
$4,999,986
Min. Investment
$100
Security Type
Equity - Common
Funding Type
RegCF
Series
Pre-Seed
Price Per Share
$14.23
Pre-Money Valuation
$30,003,172
Rolling Commitments $
Status
Funded
Reporting Date
05/01/2022
Days Remaining
Funded
% of Min. Goal
47,735%
% of Max. Goal
96%
Likelihood of Max
Funded
Avg. Daily Raise
$28,256
Momentum
Funded
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Location
Cornwall on Hudson, New York
Industry
Consumer Products, Goods & Services
Tech Sector
Hardwaretech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
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: 11/11/2021
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