MAGFAST

MAGFAST

Growth Stage

Wireless magnetic chargers

Wireless magnetic chargers

Overview

Raised to Date: Raised: $1,310,739

Total Commitments ($USD)

Platform

Netcapital

Start Date

04/23/2024

Close Date

05/17/2024

Min. Goal
$10,014
Max. Goal
$4,500,001
Min. Investment

$110

Security Type

Equity - Common

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$15.77

Pre-Money Valuation

$40,254,171

Rolling Commitments ($USD)

Status
Funded
Reporting Date

05/25/2024

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

$40,961

Momentum
Funded
Create a free account today to gain access to KingsCrowd analytics.
Year Founded

2017

Industry

Consumer Products, Goods & Services

Tech Sector

Hardwaretech

Distribution Model

B2C

Margin

Low

Capital Intensity

High

Location

Cornwall on Hudson, New York

Business Type

Growth

MAGFAST, with a valuation of $40.3 million, is raising funds on NetCapital. The electronics company designs and manufactures premium magnetic charging products that are changing charging for good. MAGFAST chargers 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 product portfolio currently includes MAGFAST Lux, MAGFAST Life, MAGFAST Extreme, MAGFAST Air, and MAGFAST Heathrow. Seymour Segnit and Amy Rau Segnit founded MAGFAST in October 2017. The current crowdfunding campaign has a minimum target of $10,013.95 and a maximum target of $4.5 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

FY 2022 FY 2021

Revenue

$1,063,544

$0

COGS

$716,521

$0

Tax

$0

$0

 

 

Net Income

$-3,305,927

$-4,267,901

Summary Balance Sheet

FY 2022 FY 2021

Cash

$1,102,966

$2,662,369

Accounts Receivable

$0

$0

Total Assets

$4,571,573

$4,372,253

Short-Term Debt

$125,484

$127,084

Long-Term Debt

$0

$0

Total Liabilities

$125,484

$127,084

Financials as of: 04/23/2024
Create a free account today to gain access to KingsCrowd analytics.

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
Create a free account today to gain access to KingsCrowd analytics.

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

Upgrade to gain access

Pay Monthly
Annually (Save 17%)

Edge

$25 /month
billed annually
Free portfolio tracking, data-driven ratings, AI analysis and reports
Plan Includes:
Everything in Free, plus
Company specific KingsCrowd ratings and analyst reports
Deal explorer and side-by-side comparison
Startup exit and failure tracking
Startup market filters and historical industry data
Advanced company search ( with ratings)
Get Edge Annual
Already a member? Log in here.

Ratings KingsCrowd Startup Rating Methodology Article

Blurred Ratings Bars Blurred Ratings Bars
Founders: enhance your startup's credibility on KingsCrowd. Create an account to claim this raise page.
Add to portfolio
MAGFAST on NetCapital 2024
Platform: Netcapital
Security Type: Equity - Common
Valuation: $40,254,171
Price per Share: $15.77

Follow company

Follow MAGFAST on NetCapital 2024

Buy MAGFAST's Deal Report

Warning: according to the close date for this deal, MAGFAST may no longer be accepting investments.

MAGFAST Deal Report

Get KingsCrowd’s comprehensive report on MAGFAST including:

  • How our proprietary algorithm rates their current capital raise (1-5 stars)
  • Detailed price, market, team, differentiators, performance, and risk ratings
  • Whether MAGFAST is undervalued or overvalued
  • Scores on the founding team and key personnel's background and expertise

Buy the MAGFAST deal report for only $10!

Email address:
Looking to buy more than one deal report? Get unlimited reports by upgrading to Edge