MAGFAST
[Closed for Investment] 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.
Investment Overview
Raised: $1,310,739
Deal Terms
Total Commitments ($USD)
- Platform
- Netcapital
- Start Date
- 04/24/2024
- Close Date
- 05/17/2024
$10,014
$4,500,001
$110
Equity - Common
Series A
RegCF
$15.77
$40,254,171
Company & Team
Company
- Year Founded
- 2017
- Industry
- Consumer Products, Goods & Services
- Tech Sector
- Distribution Model
- B2C
- Margin
- Low
- Capital Intensity
- High
Financials
-
Revenue
- $1,063,544
- Monthly Burn
- $275,494
-
Runway
- 4 months
- Gross Margin
- 33%
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Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $6,262,743
- VC Backed?
- Yes
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 04/30/2025 | Netcapital | $41,801,460 | $557,343 | Equity - Common | Active | RegCF |
| 05/17/2024 | Netcapital | $40,254,171 | $1,310,739 | Equity - Common | Funded | RegCF |
| 05/01/2023 | Netcapital | $37,199,555 | $1,546,212 | Equity - Common | Funded | RegCF |
| 04/29/2022 | Netcapital | $30,003,172 | $4,775,286 | Equity - Common | Funded | RegCF |
| 12/17/2020 | Netcapital | $20,000,000 | $1,055,250 | Equity - Common | Funded | RegCF |
Growth Charts
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.