MyndVR
Early Stage
Improving lives and fighting isolation for older adults through virtual reality
Overview
Raised: $167,321
Total Commitments ($USD)
Platform
Republic
Start Date
01/03/2021
Close Date
04/24/2021
Min. Goal
$25,000
Max. Goal
$1,070,000
Min. Investment
$100
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$8,000,000
Discount
0%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
04/29/2021
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,521
# of Investors
404
Momentum
Funded
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Year Founded
2020
Industry
Consumer Products, Goods & Services
Tech Sector
Hardwaretech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
High
MyndVR, with a valuation cap of $8 million, is raising funds on Republic. The company is helping solve the problem of social isolation among the elderly with its easy-to-use VR platform. The platform finds application in senior living communities, veteran homes, and health care premises to enable seniors to interact with the outside world. Chris Brickler and Shawn Wiora founded MyndVR in August 2016 and have raised $1.85 million in previous rounds of financing. The proceeds of the current crowdfunding round, with a minimum goal of $25,000 and a maximum goal of $1,070,000, will be used for growth and expansion. MyndVR tripled its customer base in 2020 and is collaborating with Stanford on a large-scale study on VR and aging.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$139,781 |
$55,625 |
|
COGS |
$58,271 |
$17,168 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-703,321 |
$-420,993 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$513,335 |
$73,794 |
|
Accounts Receivable |
$39,762 |
$17,025 |
|
Total Assets |
$555,097 |
$90,819 |
|
Short-Term Debt |
$147,662 |
$56,451 |
|
Long-Term Debt |
$726,388 |
$0 |
|
Total Liabilities |
$874,050 |
$56,451 |
Financials as of: 01/03/2021
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