Parallel Flight Technologies (2020)
About this raise
Parallel Flight Technologies, with a pre-money valuation of $7.98 million, is raising funds on StartEngine. The company has built a patent-pending drone technology that will be used in fighting wildfires, logistics, and search and rescue missions. The drones of Parallel Flight Technologies will be able to carry heavy loads for over two hours. Parallel Flight Technologies was founded by Joshua Resnick in 2018. The current round of crowdfunding has a minimum goal of $10,000 and a maximum goal of $1,070,000. Parallel Flight Technologies has a partnership with NASA wherein it has received a Phase 1 grant to continue its prototype development. The company is on its way to save lives, property, and the environment and has won several prestigious innovation awards.
Investment Overview
Invested : $1,069,794
Deal Terms
Total Commitments
- Platform
- StartEngine
- Start Date
- 10/11/2019
- Close Date
- 01/13/2020
$9,999
$1,069,999
$294
Equity - Common
Early Stage
RegCF
$1.40
$7,980,000
Company & Team
Company
- Year Founded
- 2018
- Industry
- Transportation, Automotive, Aviation, & Aerospace
- Tech Sector
- Distribution Model
- B2B
- Margin
- Capital Intensity
- Location
- La Selva Beach, California
- Company Website
-
Visit Website
Team
- Employees
- 7
Financials
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Company Funding & Growth
Funding history
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 05/17/2023 | StartEngine | $82,358,840 | $740,307 | Equity - Common | Funded | RegCF |
| 06/28/2022 | StartEngine | $175,318,370 | $1,304,860 | Equity - Common | Funded | RegCF |
| 06/30/2021 | StartEngine | $28,700,000 | $6,505,002 | Equity - Common | Funded | RegA+ |
| 07/28/2020 | Wefunder | $18,000,000 | $350,198 | Equity - Common | Funded | RegA+ |
| 01/13/2020 | StartEngine | $7,980,000 | $1,069,794 | Equity - Common | Funded | RegCF |
Growth Charts
Revenue History
Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.
Valuation History
Price per Share History
Note: Share prices shown in earlier rounds may not be indicative of any stock splits.
Employee History
Founder Interview
Follow Up with Parallel Flight Technologies Founder Joshua Resnick
Parallel Flight Technologies is creating heavy duty drones with extended flight times for various industrial purposes. From fighting fires to disaster relief, Parallel Flight wants to get their drones where they can help the most. We covered the company as a Deal to Watch back in July when it was conducting a Reg CF raise. Now, Parallel Flight is back with a Reg A+ raise on StartEngine.We reconnected with co-founder and CEO Joshua Resnick to learn what the company has been up to in the past three months. He told us about exciting new partnerships and what the beginning of 2021 will hold for Parallel Flight Technologies.
