PSYONIC

Early Stage

Redefining Human

Overview

Raised to Date: Raised: $1,003,227

Total Commitments ($USD)

Platform

StartEngine

Start Date

10/19/2022

Close Date

04/30/2023

Min. Goal

$9,999

Max. Goal

$1,234,998

Min. Investment

$249

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$2.35

Pre-Money Valuation

$49,937,500

Rolling Commitments ($USD)

Status

Active

Reporting Date

03/28/2023

Days Remaining

33

% of Min. Goal

10,033%

% of Max. Goal

81%

Likelihood of Max
possible
Avg. Daily Raise

$6,270

# of Investors

507

Momentum
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Year Founded

2015

Industry

Healthcare & Pharmaceuticals

Tech Sector

Biotech

Distribution Model

B2C

Margin

Low

Capital Intensity

High

Location

San Diego, California

Business Type

Growth

PSYONIC, with a valuation of $49.94 million, is raising funds on StartEngine. The company has leveraged its proprietary bionic technology to develop the world’s first multi-touch sensing bionic hand. The Ability Hand of PSYONIC offers users more functional and faster mobility at a low cost and replicates touch sensation for amputees. PSYONIC’s Ability Hand is 20% lighter than a human hand and has a 200-millisecond closing speed to give the high-performance people deserve. Aadeel Akhtar founded PSYONIC in November 2015. The current crowdfunding campaign has a minimum target of $9,999.25 and a maximum target of $1.23 million. The campaign proceeds will be used to expand into other prosthetic limbs.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$652,789

$674,145

COGS

$872,488

$597,900

Tax

$0

$0

 

 

Net Income

$-441,251

$-134,679

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$158,324

$389,163

Accounts Receivable

$162,197

$15,500

Total Assets

$320,520

$558,650

Short-Term Debt

$89,424

$86,381

Long-Term Debt

$1,427,500

$1,227,500

Total Liabilities

$1,516,924

$1,313,881

Financials as of: 10/19/2022
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Ratings KingsCrowd Startup Rating Methodology Article

Analyst Report Analyst Report Methodology Article

Part of my daily routine is to scroll through news stories in the morning. And I recently saw an article about limb loss that shocked me. Around 185,000 amputations occur each year in the U.S. — that’s 300 to 500 every day. And that number doesn’t include babies who are born with limb differences. Hanger Clinic expects 3.6 million people in the US will live with limb differences by 2050. People with limb differences and limb loss face challenges not only with daily activities, but with mental and financial health as well. Depression affects 36% of the limb loss community, and lifetime healthcare costs $150,000 more for people with limb differences compared to people with complete limbs. 

Prosthetic limbs help many people with these challenges and daily activities. But it can be hard to find a prosthetic that’s both affordable and functional. Traditional passive (meaning they are not functional, but appear similar to a natural arm) silicone prosthetics typically cost $5,000 (without insurance) but have very limited functionality. Bionic hands can cost anywhere from $10,000 to more than $50,000 depending on the manufacturer.

But what if there wasn’t an inherent trade-off between price and function? That’s why I’m excited to introduce PSYONIC, a company that aims to provide advanced prosthetic limbs at an affordable price.

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Psyonic on StartEngine 2022
Platform: StartEngine
Security Type: Equity - Common
Valuation: $49,937,500

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