MCARTech
Early Stage
Preventing costly industrial machinery failure with Asset Reliability solutions
Overview
Raised: $114,752
Total Commitments ($USD)
Platform
Wefunder
Start Date
02/08/2023
Close Date
04/30/2023
Min. Goal
$100,000
Max. Goal
$1,235,000
Min. Investment
$100
Security Type
SAFE
Series
Pre-Seed
SEC Filing Type
RegCF
Valuation Cap
$5,000,000
Discount
0%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
04/30/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,434
# of Investors
11
Momentum
Funded
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Year Founded
2017
Industry
Real Estate & Construction
Tech Sector
EnterpriseTech
Distribution Model
B2B
Margin
Medium
Capital Intensity
Low
MCARTech, with a valuation of $5 million, is raising funds on Wefunder. The company provides asset reliability solutions to prevent the failure of costly industrial machinery. The business offers real-time remote monitoring and a predictive diagnostic system to ensure optimal performance of machinery and plant operations. MCARTech has completed proof-of-concept with three clients and signed contracts with two international manufacturing companies. Kumar R Chatterjee and Dr. Kanishka Aman Singh founded MCARTech in June 2017. The current crowdfunding campaign has a minimum target of $100,000 and a maximum target of $1.24 million. The campaign proceeds will be used for R&D for continued software improvements, corporate marketing, increased manpower, and working capital.
Summary Profit and Loss Statement
| FY 2021 | FY 2020 | |
|---|---|---|
|
Revenue |
$36,202 |
$85,048 |
|
COGS |
$15,919 |
$337 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-198,434 |
$-128,950 |
Summary Balance Sheet
| FY 2021 | FY 2020 | |
|---|---|---|
|
Cash |
$251,026 |
$157,802 |
|
Accounts Receivable |
$7,910 |
$233 |
|
Total Assets |
$260,789 |
$173,911 |
|
Short-Term Debt |
$346,305 |
$60,993 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$346,305 |
$60,993 |
Financials as of: 02/08/2023
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