Redrock Biometrics
Early Stage
Authentication software company providing palm biometrics for consumer retail
Overview
$495,020 - RegCF
$520,022 - Total
$520,022 - Total
Total Commitments ($USD)
Platform
SeedInvest
Start Date
12/05/2021
Close Date
03/18/2022
Min. Goal
$25,000
Max. Goal
$5,000,000
Min. Investment
$999
Security Type
Equity - Preferred
Series
Series A
SEC Filing Type
RegCF
/ RegD 506(c)
Price Per Share
$2.25
Pre-Money Valuation
$20,000,000
Rolling Commitments ($USD)
Status
Funded
Reporting Date
03/30/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$4,853
Momentum
Funded
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Year Founded
2015
Industry
Security, Cybersecurity, & Defense
Tech Sector
Retailtech
Distribution Model
B2B
Margin
Medium
Capital Intensity
High
Redrock Biometrics, with a valuation of $20 million, is raising funds on SeedInvest. The company uses its patented technology to provide palm biometrics for consumer retail. The company’s technology, PalmID, helps users to register their palms just once and then transact on any device. Redrock Biometrics has key partnerships with companies including Mastercard, Nomura Research Institute, and Trust Stamp and reported a 73% year-over-year revenue growth from 2019 to 2020. Leonid Kontsevich and Hua Yang founded Redrock Biometrics in July 2015. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $5,000,000. The campaign proceeds will be used for operations, sales and marketing, hardware manufacturing, inventory, and R&D.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$296,250 |
$170,483 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-1,025,897 |
$-1,171,757 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$80,905 |
$148,187 |
|
Accounts Receivable |
$26,975 |
$0 |
|
Total Assets |
$108,595 |
$175,842 |
|
Short-Term Debt |
$1,729,406 |
$1,256,182 |
|
Long-Term Debt |
$475,184 |
$0 |
|
Total Liabilities |
$2,204,590 |
$1,256,182 |
Financials as of: 12/05/2021
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