MicroMGx

MicroMGx

Closed: Apr. 2023

About this raise

MicroMGx, with a valuation of $10.9 million, is raising funds on NetCapital. The company has developed a discovery platform that helps in discovering new chemistry and compounds produced by microbes. The newly discovered compounds can be used by life sciences companies to make economically-valuable and environment-friendly products for agriculture, pharmaceuticals, and other industries. MicroMGx has discovered new molecules for clients in the agriculture and animal health industries and has a self-built library of over 2,500 isolated microbial strains. William Metcalf, Neil L. Kelleher, and Regan Thomson founded MicroMGx in July 2015. The current crowdfunding campaign has a minimum target of $10,001 and a maximum target of $1,069,998. The campaign proceeds will be used for compensation, platform costs, testing MGX 1001, rent, structure isolation, and additional equipment.

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Investment Overview

Invested this round: $124,508

Deal Terms

Total Commitments

Platform
Netcapital
Start Date
09/05/2022
Close Date
04/21/2023
Min. Goal
$10,001
Max Goal
$1,069,998
Min. Investment

$100

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$2.37

Pre-Money Valuation

$10,976,063

Company & Team

Company

Year Founded
2015
Industry
Business Services, Software, & Applications
Tech Sector
Biotech
Distribution Model
B2B
Margin
Medium
Capital Intensity
Low
Location
Chicago, Illinois
Business Type
Growth
Company Website
Visit Website

Team

Employees
6
Prior Founder Exits?
No
Founder Name
William Metcalf
Title
Chairman
Founder Name
Neil Kelleher
Title
Director
Founder Name
Regan Thomson
Title
Director
Founder Name
Jack Kloeber
Title
CEO

Financials

 Revenue -2.5% YoY
$523,700
 Monthly Burn
$11,172
 Runway
7.6 months

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$523,700

$537,000

COGS

$731,195

$724,353

Tax

$0

$0

 

 

Net Income

$-134,068

$-269,672

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$85,011

$203,237

Accounts Receivable

$0

$0

Total Assets

$208,505

$221,539

Short-Term Debt

$86,000

$0

Long-Term Debt

$160,300

$117,200

Total Liabilities

$246,300

$117,200

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$400,000
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
04/21/2023 Netcapital $10,976,063 $124,508 Equity - Common Funded RegCF
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Add to portfolio
MicroMGx on NetCapital 2022
Platform: Netcapital
Security Type: Equity - Common
Valuation: $10,976,063
Price per Share: $2.37

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Follow MicroMGx on NetCapital 2022

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

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