MxG Fiber

MxG Fiber

Early Stage

Manufacturing packaging that replaces single-use plastics and sequesters carbon

Manufacturing packaging that replaces single-use plastics and sequesters carbon

Overview

Raised to Date: Raised: $242,879

Total Commitments ($USD)

Platform

Wefunder

Start Date

12/02/2021

Close Date

02/27/2022

Min. Goal
$50,000
Max. Goal
$1,070,000
Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$9,000,000

Discount

15%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

03/05/2022

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$2,792

# of Investors

415

Momentum
Funded
Create a free account today to gain access to KingsCrowd analytics.
Year Founded

2019

Industry

Industrial Services

Tech Sector

Cleantech

Distribution Model

B2B

Margin

Low

Capital Intensity

Low

Location

The Woodlands, Texas

Business Type

Growth

MxG Fiber, with a valuation of $9 million, is raising funds on Wefunder. The company makes sustainable molded fiber packaging that replaces single-use plastics and reduces carbon footprint. The fiber containers of MxG Fiber are used in the take-out food industry and are safe, high-quality, cost-effective, and fully traceable. MxG Fiber has produced several products and has three manufacturing facilities in the Midwest. Matt Griswold founded MxG Fiber in 2019. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1,070,000. The campaign proceeds will be used for sample preparation for customers, engineering services, sales and customer support, marketing, facility rent, and equipment and installation.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-533,401

$-411,945

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$13,543

$202,140

Accounts Receivable

$0

$0

Total Assets

$1,005,758

$1,237,718

Short-Term Debt

$375,012

$365,275

Long-Term Debt

$1,575,892

$1,284,188

Total Liabilities

$1,950,904

$1,649,463

Financials as of: 12/02/2021
Create a free account today to gain access to KingsCrowd analytics.

Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
MxG Fiber 02/27/2022 Wefunder $9,000,000 $242,879 SAFE Funded RegCF
MxG Fiber 11/29/2021 Wefunder $9,000,000 $510,435 SAFE Funded Test the Waters / RegCF
Create a free account today to gain access to KingsCrowd analytics.

Upgrade to gain access

Pay Monthly
Annually (Save 17%)

Edge

$25 /month
billed annually
Free portfolio tracking, data-driven ratings, AI analysis and reports
Plan Includes:
Everything in Free, plus
Company specific KingsCrowd ratings and analyst reports
Deal explorer and side-by-side comparison
Startup exit and failure tracking
Startup market filters and historical industry data
Advanced company search ( with ratings)
Get Edge Annual
Already a member? Log in here.

Ratings KingsCrowd Startup Rating Methodology Article

Blurred Ratings Bars Blurred Ratings Bars
Founders: enhance your startup's credibility on KingsCrowd. Create an account to claim this raise page.

Create your first portfolio

Create your own startup investment portfolio on KingsCrowd.

Track all of your startup investments in one place using our state-of-the-art portfolio tracker tools. To begin, create your first portfolio below.

Add to portfolio
MxG Fiber on Wefunder 2021
Platform: Wefunder
Security Type: SAFE
Valuation: $9,000,000

Follow company

Follow MxG Fiber on Wefunder 2021

Buy MxG Fiber's Deal Report

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

MxG Fiber Deal Report

Get KingsCrowd’s comprehensive report on MxG Fiber including:

  • How our proprietary algorithm rates their current capital raise (1-5 stars)
  • Detailed price, market, team, differentiators, performance, and risk ratings
  • Whether MxG Fiber is undervalued or overvalued
  • Scores on the founding team and key personnel's background and expertise

Buy the MxG Fiber deal report for only $10!

Email address:
Looking to buy more than one deal report? Get unlimited reports by upgrading to Edge