Skeyeon

Skeyeon

Early Stage

Skeyeon plans to disrupt the satellite imaging market, creating the Earth Monitoring market!

Skeyeon plans to disrupt the satellite imaging market, creating the Earth Monitoring market!

Overview

Raised to Date: Raised: $107,052

Total Commitments ($USD)

Platform

Wefunder

Start Date

07/31/2023

Close Date

04/29/2024

Min. Goal
$50,001
Max. Goal
$1,235,000
Min. Investment

$100

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.75

Pre-Money Valuation

$16,459,721

Rolling Commitments ($USD)

Status
Funded
Reporting Date

05/04/2024

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$394

# of Investors

109

Momentum
Funded
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Year Founded

2016

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

EnterpriseTech

Distribution Model

B2B

Margin

Medium

Capital Intensity

High

Location

SAN DIEGO, California

Business Type

Growth

Skeyeon, with a valuation of $16.46 million, is raising funds on Wefunder. The company aims to revolutionize the Earth Observation market with its patented technology to create smaller, cheaper, and high-performance satellites. Skeyeon is going to build satellites for Very Low Earth Orbit to get better pictures, faster data transmission, and more efficient monitoring of the Earth’s systems. Ron Reedy founded Skeyeon in January 2016. The current crowdfunding campaign has a minimum target of $50,001 and a maximum target of $1.23 million. The campaign proceeds will be used for business development, corporate expansion, hiring full-time engineering support, demonstration of Rev 2 camera and advanced coating materials, and setting up initial facilities.

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$0

$25,000

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-31,723

$-157,846

Summary Balance Sheet

FY 2022 FY 2021

Cash

$175,769

$276,875

Accounts Receivable

$0

$0

Total Assets

$397,950

$425,301

Short-Term Debt

$4,703

$331

Long-Term Debt

$5,999

$5,999

Total Liabilities

$10,702

$6,330

Financials as of: 07/31/2023
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Analyst Report

Synopsis

Satellites are integral to many aspects of our modern lives. They are used for everything from GPS navigation, weather forecasting, and telecommunications to scientific research. Skeyeon aims to disrupt this market by building a constellation of small, high-performance satellites for Very Low Earth Orbit (VLEO). Lower orbits provide better pictures, faster data transmission, and more efficient monitoring of the Earth's systems. Skeyeon's patented technology allows it to build smaller and cheaper satellites, enabling more businesses to leverage satellite technology. 

Skeyeon is currently raising funds on Wefunder. The proceeds will be used for business development, corporate expansion, hiring full-time engineering support, demonstrating the Rev 2 camera and advanced coating materials, and setting up initial facilities. The company has a pre-money valuation of $16.46 million. 

Next Section: Price

Price

Skeyeon is offering equity at a $16.5 million valuation. While Skeyeon's vision and technology are promising, the valuation seems high for a company in the pre-beta/prototype stage with no revenue or partnerships. The current valuation is based solely on the potential of Skeyeon's technology and its ability to capture a share of the global small satellite market. However, without any traction or revenue, it isn't easy to assess the viability and scalability of the business model.

Investors should consider the risks of investing in an early-stage moonshot company like Skeyeon. The company will require significant capital to develop and launch its satellites, build partnerships, and establish a market presence. The success of Skeyeon will depend on its ability to execute its business plan, attract customers, raise capital, and differentiate itself from competitors in the Earth Observation market.

Given the early stage and lack of revenue, investors should approach this investment opportunity cautiously and carefully evaluate the potential risks and rewards. While Skeyeon's technology may have the potential to disrupt the market, it is important to assess the company's ability to execute its plans and generate revenue in the future.

Next Section: Market

Market

The global small satellite market – in which Skeyeon operates – is projected to grow at a compound annual growth rate (CAGR) of 15.9% to reach $13.2 billion by 2032. This growth is expected to be driven by the increasing demand for low-cost, miniaturized satellites and the rising need for high-resolution imaging services across the globe.

However, the small satellite market is highly competitive, with significant players like NASA and SpaceX dominating the landscape. These organizations have vast resources and have made substantial inroads in the sector. For Skeyeon to succeed in such a market, it would need to leverage its patented technology effectively, provide a unique value proposition, and ensure it can scale rapidly to meet potential demand.


The market also has high regulatory barriers. Any company operating in this space must navigate complex international laws and regulations regarding satellite launches, space debris, frequency allocation, etc. Compliance with these regulations will be critical to Skeyeon's success.


Overall, while Skeyeon operates in a high-growth, high-potential market, it also faces significant challenges in terms of competition and regulation. The company's ability to navigate these challenges will be key to capturing a significant share of the burgeoning small satellite market.

Next Section: Team

Team

Skeyeon is led by its founder and CEO, Ron Reedy. Reedy has extensive industry experience, with a background in the transportation, automotive, aviation, and aerospace sectors. He has a strong track record of success, having previously founded and exited from his first company. Reedy's experience and expertise in the industry make him well-suited to lead Skeyeon in its mission to revolutionize the Earth Observation market.

As the sole founder, Reedy has been dedicated to developing Skeyeon since its inception in January 2016. He has successfully raised funds for the company and has a clear vision for its growth and success. Reedy's leadership skills and industry knowledge are valuable assets for Skeyeon as it seeks to build and deploy smaller, cheaper, and high-performance satellites for Very Low Earth Orbit.

While the team size is currently limited to Reedy, his experience and expertise are crucial in driving the company forward. As Skeyeon continues to grow and develop, it will be important for the team to expand and bring in additional talent with complementary skills to support the company's goals and objectives.

Next Section: Differentiation

Differentiation

Skeyeon aims to differentiate itself in the highly competitive Earth Observation market by revolutionizing satellite technology. The company plans to build smaller, cheaper, high-performance satellites operating in Very Low Earth Orbit (VLEO). This approach allows for better picture quality, faster data transmission, and more efficient monitoring of the Earth's systems. Skeyeon's disruptive strategy challenges the dominance of big government agencies in the market.

While the company's differentiation level in terms of quality is high, it faces significant barriers to entry due to the highly competitive landscape and the established presence of competitors such as NASA and SpaceX. However, Skeyeon's focus on VLEO and its patented technology set it apart from other players in the market. The ability to capture higher-resolution images and transmit data more rapidly provides Skeyeon with a competitive advantage.

Although Skeyeon is still in the pre-beta/prototype phase and does not yet have paying customers, its innovative approach to satellite technology and its potential to disrupt the Earth Observation market make it an intriguing prospect. The company's patents further support its differentiation and protect its intellectual property.

Overall, Skeyeon's focus on VLEO and its commitment to building smaller, cheaper, high-performance satellites position it as a potential disruptor in the Earth Observation market. However, the company must navigate the competitive landscape and deliver on its promises to gain traction and establish itself as a key player in the industry.

Next Section: Performance

Performance

While Skeyeon has made progress in securing patents for its technology, the company is still in the pre-beta/prototype phase of development. As a result, Skeyeon has not yet generated any revenue or established partnerships with major customers.

Financially, Skeyeon had cash and cash equivalents of $175,769 at the end of its most recent fiscal year. The company has raised a total of $2,009,314 in prior funding rounds. However, Skeyeon's monthly burn rate is $2,643.58, indicating ongoing expenses without corresponding revenue.

Overall, Skeyeon is an early-stage company with promising technology and ambitious goals. However, it is important to note that the company is still in development and has yet to generate revenue or secure significant partnerships. Investors should carefully evaluate the risks of investing in an early-stage company operating in a competitive market.

Next Section: Risk

Risk

Skeyeon carries several significant risks due to its highly competitive satellite imaging market position. The company is attempting to disrupt a market that big government agencies, with competitors such as NASA and SpaceX, currently dominate. Skeyeon's success will depend on its ability to differentiate itself and gain market share against these established players.

Additionally, Skeyeon is still in the pre-beta/prototype stage of development, which means there is a long time before the product is fully built and ready for commercialization. This length of time required to build the product increases the risk of delays and cost overruns.

Another risk factor is the high market approval and license regulations that Skeyeon must navigate. The company will need to obtain the necessary approvals and licenses to operate in the global small satellite market, which can be a time-consuming and costly process.

Financially, Skeyeon has minimal cash and cash equivalents, suggesting that it may face funding challenges in the future. The company's annual revenue is currently at $0.00 and has experienced negative net income in recent years. This indicates that Skeyeon has yet to generate significant revenue and may struggle to achieve profitability.

The company's monthly burn rate also poses a financial risk, indicating ongoing expenses that must be covered. Given the capital-intensive space that Skeyeon operates in, the company will be highly reliant on raising new capital to survive.

Next Section: Bullish Outlook

Bullish Outlook

Skeyeon can potentially disrupt the satellite imaging market with its innovative approach to Earth Observation. By utilizing Very Low Earth Orbit (VLEO), Skeyeon aims to build a constellation of smaller, cheaper, and high-performance satellites that can provide better pictures, faster data transmission, and more efficient monitoring of the Earth's systems. This unique positioning sets Skeyeon apart from the dominant market players, primarily big government agencies.

The global small satellite market presents a significant opportunity for Skeyeon's growth. With its focus on VLEO satellites and their advantages, Skeyeon can potentially capture a substantial market share. The company's patented technology and approach to satellite imaging provide a compelling value proposition that can attract customers seeking advanced Earth Observation capabilities.

One of the notable strengths of Skeyeon is its ability to overcome barriers to entry in an extremely competitive landscape. By leveraging its patents and distinctive approach to satellite technology, Skeyeon can establish a unique positioning and carve out a niche in the Earth Observation market.

Founded by Ron Reedy in 2016, Skeyeon has shown a strong commitment to advancing its technology and expanding its capabilities. With the right execution and continued development, Skeyeon has the potential to become a major player in the satellite imaging market, disrupting the status quo and revolutionizing Earth Observation.

Next Section: Bearish Outlook

Bearish Outlook

Skeyeon is an ambitious company aiming to disrupt the satellite imaging market with its plans to build smaller, cheaper, and high-performance satellites for Very Low Earth Orbit (VLEO). While the concept sounds promising, significant challenges and risks are associated with entering such a highly competitive and capital-intensive industry.

One major concern is the lack of partnerships or existing contracts with government agencies or private companies. Without established partnerships, Skeyeon may face difficulties securing customers and generating revenue. Competing against well-established players such as NASA and SpaceX, who already have a strong foothold in the market, further adds to the competitive challenges Skeyeon will face.

Furthermore, Skeyeon is in the early stages of development, with no functional prototypes or beta testing completed yet. The company is still in the pre-beta/prototype phase, and there is no indication of when a viable product will be available for commercial use. This lack of progress and tangible results raises concerns about the company's ability to execute and deliver on its promises.

Also, Skeyeon's financials reveal a net loss of $31,723 in the most recent fiscal year. With limited cash on hand and a monthly burn rate of over $2,600, sustaining operations and funding the development of their satellite technology could become increasingly challenging without significant additional funding.

While Skeyeon has patents for its technology, the barriers to entry in the satellite industry are high. Building and launching satellites require substantial resources, expertise, and regulatory compliance. Skeyeon's ability to meet these requirements and compete effectively in the market remains uncertain.

Considering the competitive landscape, lack of partnerships, early development stage, financial constraints, and the absence of a proven product, it is important for investors to approach Skeyeon's crowdfunding campaign with caution. The company's valuation of $16.46 million may be perceived as overvalued given the current stage of development and the challenges it faces in the highly competitive satellite imaging industry.

Next Section: Executive Summary

Executive Summary

Skeyeon Inc. aims to disrupt the Earth Observation market by creating smaller, cheaper, and high-performance satellites. The company's patented technology is designed to build satellites for Very Low Earth Orbit (VLEO), allowing better pictures, faster data transmission, and more efficient monitoring of Earth's systems. This innovation can potentially revolutionize the satellite imaging market, creating a new Earth Monitoring market.


Despite not having any revenue yet, Skeyeon has a high market potential in the rapidly growing global small satellite market. The company's competitive landscape is extremely challenging, with major players like NASA and SpaceX dominating the sector. However, Skeyeon's unique approach to VLEO satellite technology could provide a competitive edge. The company has already raised over $2 million in prior funding rounds, demonstrating investor confidence in its vision and technology.


The proceeds from the current crowdfunding campaign, with a minimum target of $50,001 and a maximum target of $1.23 million, will be used for business development, corporate expansion, hiring full-time engineering support, demonstrating the Rev 2 camera and advanced coating materials, and setting up initial facilities. Although Skeyeon is in its early stages and the barriers to entry are high, the company's dedication to pioneering advancements in satellite technology could position it as a significant player in the future of Earth monitoring.

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Skeyeon on Wefunder 2023
Platform: Wefunder
Security Type: Equity - Common
Valuation: $16,459,721
Price per Share: $1.75

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