Ourobio
Early Stage
Circular Biomanufacturing Tec
Overview
Raised: $55,000
Total Commitments ($USD)
Platform
Round Here
Start Date
01/23/2023
Close Date
03/31/2023
Min. Goal
$50,000
Max. Goal
$350,000
Min. Investment
$750
Security Type
Convertible Note
Series
Pre-Seed
Funding Type
RegCF
Valuation Cap
$8,000,000
Discount Rate
20%
Rolling Commitments ($USD)
Status
Active
Reporting Date
02/03/2023
Days Remaining
56
% of Min. Goal
110%
% of Max. Goal
16%
Likelihood of Max
Avg. Daily Raise
$5,000
# of Investors
6
Momentum
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Location
Nokesville, Virginia
Industry
Industrial Services
Tech Sector
Biotech
Distribution Model
B2B
Margin
Medium
Capital Intensity
High
Ourobio, with a valuation of $8 million, is raising funds on Round Here. The company turns industrial byproducts into biodegradable plastic additives. The aim of the company is to lower the cost, environmental footprint, and difficulty of making bio-based products and packaging. Ourobio has developed engineered microorganisms that turn industrial byproducts into plastic additives for chemicals and CPG industries. The company has received several grants and recognitions and has signed MOUs with prospective partners. Alec Brewer and Kobe Rogers founded Ourobio in March 2020. 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 preliminary architecture and design for technology and product development, marketing, administrative and overhead expenses, and other indirect expenses.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$1,128 |
$8 |
| ||
| ||
|
Net Income |
$40,811 |
$4,488 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$45,299 |
$4,488 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$45,299 |
$4,488 |
|
Short-Term Debt |
$1,968 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$1,968 |
$0 |
Financials as of: 01/23/2023
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