Novella AI
Early Stage
The Future of Video Editing
Overview
Raised: $356,659
Total Commitments ($USD)
Platform
Wefunder
Start Date
03/19/2024
Close Date
04/30/2024
Min. Goal
$50,000
Max. Goal
$350,000
Min. Investment
$100
Security Type
SAFE
Series
Pre-Seed
SEC Filing Type
RegCF
Early Bird Val. Cap
$5,400,000
Valuation Cap
$6,000,000
Discount
5%
Rolling Commitments ($USD)
Status
Active
Reporting Date
04/26/2024
Days Remaining
3
% of Min. Goal
713%
% of Max. Goal
102%
Likelihood of Max
Avg. Daily Raise
$9,386
# of Investors
183
Momentum
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Year Founded
2023
Industry
Media, Entertainment & Publishing
Tech Sector
MediaTech
Distribution Model
B2B/B2C
Margin
High
Capital Intensity
Low
Novella AI, with a valuation of $6 million, is raising funds on Wefunder. The company has developed an AI-powered video editing app. Novella AI is designed to streamline the editing process using AI and machine learning and transform laborious tasks into creative acts. The company is guided by Michael Phillips and aims to ease the complexities of video editing and enable individuals to unleash their creativity and deliver powerful narratives. Gasper Chiaramonte, Michael Morello, and Averee Chang founded Novella AI in July 2023. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $350,000. The campaign proceeds will be used for startup and software development, engineering costs, and runway costs for beta testing.
Summary Profit and Loss Statement
| FY 2023 | FY 2022 | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-44,874 |
$0 |
Summary Balance Sheet
| FY 2023 | FY 2022 | |
|---|---|---|
|
Cash |
$3,178 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$9,515 |
$0 |
|
Short-Term Debt |
$11,427 |
$0 |
|
Long-Term Debt |
$42,355 |
$0 |
|
Total Liabilities |
$53,782 |
$0 |
Financials as of: 03/19/2024
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