necoTECH
Growth Stage
Creating sustainable infrastructure using recycled waste materials
Overview
Raised: $270,425
Total Commitments ($USD)
Platform
Wefunder
Start Date
02/09/2022
Close Date
11/02/2022
Min. Goal
$50,000
Max. Goal
$1,070,000
Min. Investment
$100
Security Type
SAFE
Series
Pre-Seed
SEC Filing Type
RegCF
Early Bird Val. Cap
$20,000,000
Valuation Cap
$25,000,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
11/30/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,017
# of Investors
264
Momentum
Funded
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Year Founded
2019
Industry
Real Estate & Construction
Tech Sector
Hardwaretech
Distribution Model
B2B
Margin
Medium
Capital Intensity
High
necoTECH, with a valuation of $25 million, is raising funds on Wefunder. The company creates sustainable infrastructure using recycled waste materials. The products of necoTECH include RMV Crack Sealing Robot (live in the market), Recycled Polymer Modified Asphalt (in late R&D phase), Hot-Patch-On-Demand (in final R&D stages), and NecoCrete (in mid R&D phase). necoTECH products are proven in military applications and have been awarded six Air Force contracts. Steve Flaherty founded necoTECH in September 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 further R&D of technologies, hiring and operations, marketing, and other expenses.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$2,000,000 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$28,240 |
$-95 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$66,551 |
$5,300 |
|
Accounts Receivable |
$0 |
$95 |
|
Total Assets |
$77,551 |
$5,300 |
|
Short-Term Debt |
$48,000 |
$95 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$48,000 |
$95 |
Financials as of: 02/09/2022
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