Overview

Raised to Date: Raised: $542,021

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

Funding History

Growth Charts

Total Commitments ($USD)

Platform

StartEngine

Start Date

03/09/2023

Close Date

09/20/2023

Min. Goal

$14,998

Max. Goal

$750,000

Min. Investment

$210

Security Type

Equity - Preferred

Series

Series B

SEC Filing Type

RegCF    

Price Per Share

$2.10

Pre-Money Valuation

$8,983,563

Rolling Commitments ($USD)

Status

Funded

Reporting Date

09/29/2023

Days Remaining

Funded

% of Min. Goal

Funded

% of Max. Goal

Funded

Likelihood of Max

Funded

Avg. Daily Raise

$2,794

# of Investors

505

Momentum

Funded

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Manta Biofuel

Year Founded

2018

Industry

Energy, Power, & Natural Resources

Tech Sector

Cleantech

Distribution Model

B2B

Margin

Low

Capital Intensity

High

Location

Owings Mills, Maryland

Business Type

Growth

Company Website

Manta Biofuel, with a valuation of $8.9 million, is raising funds on StartEngine. The company is using algae to make a renewable and cost-efficient replacement for crude oil. The algae biofuel will have net negative carbon dioxide emissions and will be a direct fossil fuel replacement. Manta Biofuel has raised funds from the US Department of Energy and the State of Maryland and has signed $1 million in LOIs. Ryan Powell founded Manta Biofuel in June 2018. The current crowdfunding campaign has a minimum target of $14,998.20 and a maximum target of $1.3 million. The campaign proceeds will be used for marketing, research and development, company employment, operations, and the cost of goods sold.

Summary Profit and Loss Statement

	FY 2021	FY 2020
Revenue	$14,160	$0
COGS	$0	$0
Tax	$0	$0
Net Income	$-1,096,114	$-420,149

Summary Balance Sheet

	FY 2021	FY 2020
Cash	$1,077,424	$218,623
Accounts Receivable	$0	$0
Total Assets	$1,197,817	$297,391
Short-Term Debt	$446,995	$417,880
Long-Term Debt	$350,000	$250,000
Total Liabilities	$796,995	$667,880

Financials as of: 03/09/2023

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Raise History

Offering Name	Close Date	Platform	Valuation/Cap	Total Raised	Security Type	Status	Reg Type
Manta Biofuel	09/19/2023	StartEngine	$8,983,563	$542,021	Equity - Preferred	Funded	RegCF
Manta Biofuel	07/14/2021	Republic	$6,000,000	$1,861,738	SAFE	Funded	RegCF

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• Price per Share
• Valuation
• Revenue
• Employees

Price per Share Valuation Revenue Employees

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

When we think of making the switch to renewable energy, we often think in terms of electrification: switching from coal to wind and solar, powering cars with batteries instead of gasoline, or installing heat pumps and electric stoves in houses instead of gas furnaces and stoves.

But electrification only solves part of the energy problem. Some equipment needs lots of energy delivered at high power rates without taking up too much space. Think airplanes, boats, trucks, and factories. For these use cases, batteries are currently too big, too expensive, and too weak.

That’s why the world still needs fuels. And startups like Manta Biofuel are working to develop sustainable and petroleum-free fuels.

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