Pitch Aeronautics

Pitch Aeronautics

Closed: Nov. 2022

About this raise

Pitch Aeronautics, with a valuation of $10 million, is raising funds on StartEngine. The company is developing a drone for robotic tasks, including inspection climbing. The drone, Astria, is equipped with a patented cyclorotor for precision positioning and a configuration to mount a heavy payload on an interchangeable payload arm. Atria is in the prototype stage and is undergoing flight testing. Pitch Aeronautics is led by an experienced team and is unlocking new markets that are currently serviced by people on ropes and ladders. David Bennett, Zachary Adams, and Ian Gibson founded Pitch Aeronautics in February 2022. The current crowdfunding campaign has a minimum target of $9,998.44 and a maximum target of $1,069,999.60. The campaign proceeds will be used to transition the prototype to a commercial product.

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Investment Overview

Invested this round: $410,451

Deal Terms

Total Commitments

Platform
StartEngine
Start Date
05/31/2022
Close Date
11/28/2022
Min. Goal
$9,998
Max Goal
$1,070,000
Min. Investment

$299

Security Type

Equity - Common

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.81

Pre-Money Valuation

$9,955,004

Company & Team

Company

Year Founded
2022
Industry
Transportation, Automotive, Aviation, & Aerospace
Tech Sector
Hardwaretech
Distribution Model
B2B
Margin
Low
Capital Intensity
High
Location
Boise, Idaho
Business Type
Growth
Company Website
Visit Website

Team

Employees
7
Prior Founder Exits?
No
Founder Name
Ian Gibson
Title
Business Lead
Founder Name
Zachary Adams
Title
Chief Engineer & Director

Financials

 Revenue
$0
 Monthly Burn
$544
 Runway
9.5 months

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$13,775

COGS

$0

$10,822

Tax

$0

$0

 

 

Net Income

$-6,523

$-9,086

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$5,170

$668

Accounts Receivable

$0

$0

Total Assets

$20,473

$668

Short-Term Debt

$13,043

$8,718

Long-Term Debt

$0

$0

Total Liabilities

$13,043

$8,718

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$30,000
Grants
$300,000
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
11/28/2022 StartEngine $9,955,004 $410,451 Equity - Common Funded RegCF
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Add to portfolio
Pitch Aeronautics on StartEngine 2022
Platform: StartEngine
Security Type: Equity - Common
Valuation: $9,955,004
Price per Share: $1.81

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