SmartFoam
Growth Stage
TURNING THE “EVERYDAY” INTO SMART ACCURATE, ECONOMICAL, CONNECTED SENSORS
Overview
Raised: $35,356
Total Commitments ($USD)
Platform
StartEngine
Start Date
11/18/2021
Close Date
02/16/2022
Min. Goal
$9,995
Max. Goal
$534,984
Min. Investment
$350
Security Type
Equity - Common
Series
Series A
SEC Filing Type
RegCF
Price Per Share
$8.98
Pre-Money Valuation
$25,611,113
Rolling Commitments ($USD)
Status
Funded
Reporting Date
02/27/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$397
# of Investors
36
Momentum
Funded
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Year Founded
2016
Industry
Apparel & Fashion
Tech Sector
FashionTech
Distribution Model
B2C
Margin
Medium
Capital Intensity
High
SmartFoam, with a valuation of $25.6 million, is raising funds on StartEngine. The company has developed technology that transforms normal foam material into intelligent sensors. The sensors can then be used to collect important data and encourage interactions with the smart device and speaker. The first product of SmartFoam, SmartSteps, helps in tracking activity and fitness very accurately. The company has completed all stages of development, testing, sourcing, and production readiness. Jennifer Smith founded SmartFoam in February 2016. The current crowdfunding campaign has a minimum target of $9,994.74 and a maximum target of $534,983.50. The campaign proceeds will be used to launch new products and expand.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$800 |
$800 |
| ||
| ||
|
Net Income |
$-790,332 |
$-2,625,770 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$246 |
$84,707 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$81,738 |
$209,526 |
|
Short-Term Debt |
$1,036,521 |
$2,445,086 |
|
Long-Term Debt |
$26,599 |
$0 |
|
Total Liabilities |
$1,063,120 |
$2,445,086 |
Financials as of: 11/18/2021
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