NEXT Boatworks

Early Stage

We're building the future of rowing.

Analytics

Raised to Date: Raised: $114,850

Aggregate Commitments $

Platform

Wefunder

Start Date

10/21/2022

Close Date

04/30/2023

Min. Goal

$50,000

Max. Goal

$450,000

Min. Investment

$100

Security Type

SAFE

Funding Type

RegCF

Series

Seed

Valuation Cap

$2,400,000

Discount Rate

10%

Rolling Commitments $

Status

Active

Reporting Date

12/09/2022

Days Remaining

142

% of Min. Goal

230%

% of Max. Goal

26%

Likelihood of Max
likely
Avg. Daily Raise

$2,344

# of Investors

33

Momentum
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Location

Bristol, Rhode Island

Industry

Consumer Products, Goods & Services

Tech Sector

Retailtech

Distribution Model

B2B/B2C

Margin

Low

Capital Intensity

High

Business Type

Growth

NEXT Boatworks, with a valuation of $2.4 million, is raising funds on Wefunder. The company has made the first next-gen coastal rowing boat that meets the World Rowing C1x coastal rule standards. The boat, NEXT C1X, has established NEXT Boatworks as the leader in coastal rowing boat design with its leak-proof, lightweight, and innovative design. The company aims to develop and build the Renegade next, a sturdy boat with high performance. Dennis Loebs and Ben Booth founded NEXT Boatworks in May 2016. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $450,000. The campaign proceeds will be used for new hires, marketing, doubling C1X throughput and sales, tooling and equipment, and debt retirement.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-495,801

$-194,055

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$7,727

$24,345

Accounts Receivable

$9,380

$0

Total Assets

$532,171

$198,482

Short-Term Debt

$150,614

$34,515

Long-Term Debt

$311,232

$0

Total Liabilities

$461,846

$34,515

Financials as of: 10/21/2022
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NEXT Boatworks on Wefunder 2022
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Platform: Wefunder
Security Type: SAFE
Valuation: $2,400,000

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