MAGFAST

MAGFAST

Growth 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 to Date: Raised: $1,546,212

Total Commitments ($USD)

Platform

Netcapital

Start Date

11/16/2022

Close Date

05/01/2023

Min. Goal
$10,012
Max. Goal
$3,350,006
Min. Investment

$106

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$15.17

Pre-Money Valuation

$37,199,555

Rolling Commitments ($USD)

Status
Funded
Reporting Date

05/30/2023

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$9,371

Momentum
Funded
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Year Founded

2017

Industry

Consumer Products, Goods & Services

Tech Sector

Hardwaretech

Distribution Model

B2C

Margin

Medium

Capital Intensity

High

Location

Cornwall on Hudson, New York

Business Type

Growth

Company Website

MAGFAST, with a valuation of $37.2 million, is raising funds 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. 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 $3.35 million. The campaign proceeds will be used for tooling, manufacturing, product certification, research and development, and general and administrative expenses.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-4,267,901

$-4,811,177

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$2,662,369

$1,650,223

Accounts Receivable

$0

$0

Total Assets

$4,979,055

$2,883,896

Short-Term Debt

$127,084

$127,084

Long-Term Debt

$0

$0

Total Liabilities

$127,084

$127,084
Financials as of: 11/16/2022
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
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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Price per Share History

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

Valuation History

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.

Employee History

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MAGFAST on NetCapital 2022
Platform: Netcapital
Security Type: Equity - Common
Valuation: $37,199,555
Price per Share: $15.17

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Follow MAGFAST on NetCapital 2022
View on Netcapital (Closed)
Deal Analytics
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