Palm Energy Systems

Palm Energy Systems

Closed: Jan. 2022

About this raise

Palm Energy Systems, with a valuation of $5 million, is raising funds on Wefunder. The company is developing revolutionary solar energy devices with its Palm-e. Palm-e has an aesthetically pleasing design, high efficiency, high power output, and a high level of intelligence. Palm Energy Systems aims to reduce carbon footprint by more than 21,000 pounds of carbon dioxide per year. Rajiv Narain and Francois Mahu founded Palm Energy Systems in May 2020. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $267,500. The campaign proceeds will be used for operational expenses, building a working prototype, and marketing expenses.

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Investment Overview

Invested this round: $110,824

Deal Terms

Total Commitments

Platform
Wefunder
Start Date
09/17/2021
Close Date
01/25/2022
Min. Goal
$50,000
Max Goal
$267,500
Min. Investment

$100

Security Type

SAFE

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$4,000,000

Valuation Cap

$5,000,000

Discount

20%

Company & Team

Company

Year Founded
2020
Industry
Energy, Power, & Natural Resources
Tech Sector
Cleantech
Distribution Model
B2B
Margin
Low
Capital Intensity
High
Location
Greenwich, Connecticut
Business Type
Growth
Company Website
Visit Website

Team

Employees
5
Prior Founder Exits?
No
Founder Name
Rajiv Narain
Title
CEO
Founder Name
Samir Varma
Title
Chairman
Founder Name
Jay Kesan
Title
Strategic Advisor
Founder Name
François Mahu
Title
COO & Chief Designer

Financials

 Revenue
$0
 Monthly Burn
$1,472
 Runway
15.4 months

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-17,658

$0

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$22,692

$0

Accounts Receivable

$0

$0

Total Assets

$22,692

$0

Short-Term Debt

$0

$0

Long-Term Debt

$0

$0

Total Liabilities

$0

$0

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
01/25/2022 Wefunder $5,000,000 $110,824 SAFE Funded RegCF
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Palm Energy Systems on Wefunder 2021
Platform: Wefunder
Security Type: SAFE
Valuation: $5,000,000

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