necoTECH

necoTECH

Closed: Nov. 2022

About this raise

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.

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Investment Overview

Invested this round: $270,425

Deal Terms

Total Commitments

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    Open SEC Filing

Early Bird Val. Cap

$20,000,000

Valuation Cap

$25,000,000

Discount

20%

Company & Team

Company

Year Founded
2019
Industry
Real Estate & Construction
Tech Sector
Hardwaretech
Distribution Model
B2B
Margin
Medium
Capital Intensity
High
Location
Delaware, Ohio
Business Type
Growth
Company Website
Visit Website

Team

Employees
5
Prior Founder Exits?
No
Founder Name
Steve Flaherty
Title
CEO

Financials

 Revenue
$2,000,000
 Cash on Hand
$66,551

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

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
11/02/2022 Wefunder $25,000,000 $270,425 SAFE Funded RegCF
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Add to portfolio
necoTECH on Wefunder 2022
Platform: Wefunder
Security Type: SAFE
Valuation: $25,000,000

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

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