Overview

Raised to Date: Raised: $3,071,185

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

Funding History

Growth Charts

Total Commitments ($USD)

Platform

StartEngine

Start Date

10/18/2022

Close Date

01/31/2024

Min. Goal

$9,999

Max. Goal

$4,999,999

Min. Investment

$249

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    

Price Per Share

$2.35

Pre-Money Valuation

$49,937,500

Rolling Commitments ($USD)

Status

Funded

Reporting Date

02/03/2024

Days Remaining

Funded

% of Min. Goal

Funded

% of Max. Goal

Funded

Likelihood of Max

Funded

Avg. Daily Raise

$6,548

# of Investors

2,094

Momentum

Funded

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PSYONIC

Year Founded

2015

Industry

Healthcare & Pharmaceuticals

Tech Sector

Biotech

Distribution Model

B2C

Margin

Low

Capital Intensity

High

Location

San Diego, California

Business Type

Growth

Company Website

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

	FY 2022	FY 2021
Revenue	$1,655,166	$652,789
COGS	$810,759	$875,986
Tax	$0	$0
Net Income	$75,758	$-441,251

Summary Balance Sheet

	FY 2022	FY 2021
Cash	$438,919	$158,324
Accounts Receivable	$179,525	$51,300
Total Assets	$1,202,921	$320,520
Short-Term Debt	$21,384	$9,180
Long-Term Debt	$1,615,902	$1,427,500
Total Liabilities	$1,637,286	$1,436,680

Financials as of: 10/18/2022

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Raise History

Offering Name	Close Date	Platform	Valuation/Cap	Total Raised	Security Type	Status	Reg Type
PSYONIC	04/28/2024	StartEngine	$65,067,393	$705,890	Equity - Common	Active	RegCF
PSYONIC	01/30/2024	StartEngine	$49,937,500	$3,071,185	Equity - Common	Funded	RegCF

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• Price per Share
• Valuation
• Revenue
• Employees

Price per Share Valuation Revenue Employees

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Valuation History

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.

Employee History

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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