Novella AI

Novella AI

Early Stage

The Future of Video Editing

The Future of Video Editing

Overview

Raised to Date: Raised: $356,009

Total Commitments ($USD)

Platform

Wefunder

Start Date

03/19/2024

Close Date

04/29/2024

Min. Goal
$50,000
Max. Goal
$350,000
Min. Investment

$100

Security Type

SAFE

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$5,400,000

Valuation Cap

$6,000,000

Discount

5%

Rolling Commitments ($USD)

Status

Active

Reporting Date

04/15/2024

Days Remaining

14

% of Min. Goal

712%

% of Max. Goal

102%

Likelihood of Max
exceeded
Avg. Daily Raise

$13,186

# of Investors

181

Momentum
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Year Founded

2023

Industry

Media, Entertainment & Publishing

Tech Sector

MediaTech

Location

Ventura, California

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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Novella AI on Wefunder 2024
Platform: Wefunder
Security Type: SAFE
Valuation: $6,000,000

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