No-H2O

No-H2O

Closed: Mar. 2021

About this raise

No-H2O, with a $13 million pre-money valuation, is raising funds on StartEngine. The company specializes in the on-demand car wash. It uses a proprietary waterless formula and advanced infrastructure to offer its premium products and services to consumers and B2B customers. Emmet O’Brien founded No-H2O in May 2020. The current crowdfunding round has a minimum target of $10,000 and a maximum target of $1,070,000. The funds will be used for marketing, growing the team, and expansion. No-H2O has proven track record with 20,000 on-demand app downloads and franchise growth in seven new US cities in just 12 months. The company has generated over $6 million in lifetime sales, with year-over-year sales growth of 978% in 2020.

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Investment Overview

Invested this round: $127,974

Deal Terms

Total Commitments ($USD)

Platform
StartEngine
Start Date
08/24/2020
Close Date
03/19/2021
Min. Goal
$10,000
Max Goal
$1,070,000
Min. Investment

$300

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.00

Pre-Money Valuation

$13,000,000

Company & Team

Company

Year Founded
2020
Industry
Consumer Products, Goods & Services
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
High
Capital Intensity
Low
Location
Fort Lauderdale, Florida
Business Type
Growth
Company Website
Visit Website

Team

Employees
10
Prior Founder Exits?
No
Founder Name
Emmet O'Brien
Title
CEO

Financials

 Revenue +91% YoY
$886,255
 Monthly Burn
$11,658
 Runway
0 months
Gross Margin
74%

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$886,255

$82,470

COGS

$231,583

$10,809

Tax

$0

$0

 

 

Net Income

$-139,893

$-278,780

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$528

$11,018

Accounts Receivable

$456,940

$66,095

Total Assets

$685,556

$123,335

Short-Term Debt

$604,153

$143,328

Long-Term Debt

$475,393

$233,687

Total Liabilities

$1,079,546

$377,015

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
03/19/2021 StartEngine $13,000,000 $127,974 Equity - Common Funded RegCF
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No-H2O on StartEngine
Platform: StartEngine
Security Type: Equity - Common
Valuation: $13,000,000
Price per Share: $1.00

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Warning: according to the close date for this deal, No-H2O may no longer be accepting investments.

No-H2O Deal Report

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