Phuc Labs

Phuc Labs

Closed: Feb. 2023

About this raise

Phuc Labs, with a valuation of $18 million, is raising funds on Republic. The company has modernized recycling technology for e-waste and valuable earth metals. The technology of Phuc Labs is a digital innovation and uses computer vision and robotics to identify and recover resources from waste with high accurate and low energy. The technology, Vision Valve, analyzes the resource particles and directs them through robotic valves to the correct output tank. Phuc Vinh Truong founded Phuc Labs in November 2020. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $1.24 million. The campaign proceeds will be used to scale the customer pipeline, expand the team, and expand the IP portfolio.

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Investment Overview

Invested this round: $184,044

Deal Terms

Total Commitments

Platform
Republic
Start Date
10/07/2022
Close Date
02/07/2023
Min. Goal
$25,000
Max Goal
$1,235,000
Min. Investment

$100

Security Type

SAFE

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$18,000,000

Discount

0%

Company & Team

Company

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

Team

Employees
8
Prior Founder Exits?
Yes
Founder Name
Phuc Thien Truong
Title
Head of Business
Founder Name
Phuc Vinh Truong
Title
CEO

Financials

 Revenue
$0
 Monthly Burn
$44,748
 Runway
1 months

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-536,972

$-82,662

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$44,832

$27,833

Accounts Receivable

$314,000

$100,000

Total Assets

$366,074

$127,833

Short-Term Debt

$25,624

$60,413

Long-Term Debt

$0

$0

Total Liabilities

$25,624

$60,413

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Analyst Report Analyst Report Methodology Article

Humans produced 53.6 million tons of e-waste in 2019 and will produce 74.7 million tons yearly by 2030. So I try to keep a good conscience by not overconsuming electronics. But my good deeds will not change the rare metals supply chain.

Hopefully, seeing the glass half empty or half full is a matter of choice -- and startup innovation might help it look fuller. E-waste is actually a gold mine of opportunity. As you might know, extracting these metals from the planet is costly. And like anything rare, they have a high value on the market. The price of gold reached new highs in 2022, the price of copper is in its highest range, and palladium is twice more expensive now than in 2018.

If the e-waste from electronics -- which includes those precious metals -- could be sorted and recycled, it would provide a lot of value. That’s why I’m excited to introduce Phuc Labs to you. This startup has new technology that can get the most out of e-waste.

Company Funding & Growth

Funding history

Total Prior Capital Raised
$1,351,800
VC Backed?
Yes
Close Date Platform Valuation Total Raised Security Type Status Reg Type
02/07/2023 Republic $18,000,000 $184,044 SAFE Funded RegCF
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Founder Interview

Phuc Labs Co-founder Phuc Thien Truong Is Improving E-waste Recycling

What do metal ore and smartphones have in common? They both have small amounts of rare metals inside. But smartphones -- along with most other electronics -- end up in the trash with those rare metals still inside. More than 50 million tons of electronic waste (e-waste) are thrown out worldwide every year, most of it containing metal that can be reused. 

That’s where Phuc Labs comes in. The company has developed a patented artificial intelligence and robotic technology that can pick out and sort precious metals from e-waste. We spoke with the company’s co-founder and Head of Business Phuc Thien Truong about how this technology can be used now and in the future. 

Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.

Read Founder Interview

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Phuc Labs on Republic 2022
Platform: Republic
Security Type: SAFE
Valuation: $18,000,000

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Follow Phuc Labs on Republic 2022

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Warning: according to the close date for this deal, Phuc Labs may no longer be accepting investments.

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