MCARTech

Early Stage
Preventing costly industrial machinery failure with Asset Reliability solutions
Overview
Raised: $114,552
Rolling Commitments ($USD)
Status
Active
Reporting Date
03/23/2023
Days Remaining
38
% of Min. Goal
115%
% of Max. Goal
9%
Likelihood of Max
Avg. Daily Raise
$2,727
# of Investors
11
Momentum
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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
Most Recent Year | Prior Year | |
---|---|---|
Revenue |
$36,202 |
$85,048 |
COGS |
$15,919 |
$337 |
Tax |
$0 |
$0 |
| ||
| ||
Net Income |
$-198,434 |
$-128,950 |
Summary Balance Sheet
Most Recent Year | Prior Year | |
---|---|---|
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: 02/09/2023
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