Early Stage

Innovative and sustainably designed gear

Innovative and sustainably designed gear


Raised to Date: Raised: $942,895

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Equity - Common



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RegCF    Open SEC Filing

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Year Founded



Consumer Products, Goods & Services

Tech Sector


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Capital Intensity



New York, New York

Business Type


Solgaard, with a pre-money valuation of $24.2 million, is raising funds on StartEngine. The company makes innovative travel and lifestyle gear by upcycling ocean plastic into its proprietary fabric, Shore-Tex. The products of Solgaard cater to the travel, work, and home needs of modern customers looking for sustainability. Adrian Solgaard and Chris Cavill founded Solgaard in 2012. The current crowdfunding round has a minimum goal of $10,000 and a maximum goal of $1,070,000, and the proceeds will be used to diversify the product offering, activate new marketing tactics, grow the inventory, and develop new materials. Solgaard has been awarded Time Magazines’ Best Inventions 2018 and FastCompany’s World-Changing Ideas 2020. The company tripled its sales from 2018 to 2019 and achieved a 465% e-commerce growth from 2019 to YTD 2020.

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Financials as of: 09/21/2020
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Ratings KingsCrowd Startup Rating Methodology Article

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Analyst Report Analyst Report Methodology Article


The KingsCrowd investment team wanted to provide research on [company] although it was not selected as a Top Deal or Deal to Watch. If you have questions regarding our deal diligence or selection methodology, please reach out to

Analysis written by Katy Dolan.

Next Section: Problem


Global society produces over 220 million tons of plastic each year. Unfortunately, a sobering amount of that plastic winds up in the Earth’s oceans. In 2006, the United Nations estimated that every square mile of ocean contains up to 46,000 pieces of floating plastic. This plastic debris kills more than a million seabirds and over 100,000 marine mammals each year. 

One of the most striking examples of the magnitude of ocean plastic waste is the Great Pacific Garbage Patch. It’s a floating raft of waste (mostly plastic) that covers an area twice the size of Texas. This plastic pollution is directly harmful to marine life, but it also harms human life. Microplastics and chemicals found in plastic ultimately end up in the human food chain thanks to their presence in the ocean, which may have negative impacts on our health. 

As we increasingly realize the negative impacts of human behavior on the environment, removing plastic from the ocean has become a major effort around the world. “Upcycling” ocean plastic into products — which economically incentivizes the removal of plastic from the ocean — is a new trend among companies large and small. It’s a win-win when the production of enjoyable products simultaneously repairs the environment.

Next Section: Solution


Solgaard is a lifestyle consumer goods company upcycling ocean plastic into backpacks, suitcases, home charging stations, and other premium products. Solgaard is a “design-driven, global brand that is always ready for adventure.” Solgaard customers represent the 21st century global citizen who loves to travel and explore, appreciates high-quality products, and cares about the environment.

Solgaard has launched each of its new products on Kickstarter, beginning in 2016 with its Lifepack campaign. Lifepack is a high-quality backpack meant for those who regularly carry their laptop and other “work” products alongside their “life” products while traveling or working remotely. The backpack is made of Solgaard’s award-winning Shore-Tex fabric, which is recycled from ocean plastic. 

Since the launch of Lifepack, Solgaard has introduced two other products. Carry-On Closet is Solgaard’s reimagining of a carry-on suitcase. Clothes are stored vertically in a closet-organizer-esque design, allowing travelers to keep their clothes organized and compartmentalized on the road. HomeBase — launched in 2020 — is a wireless charging shelf meant to store phones, keys, and other small handheld items inside consumers’ homes. 

Solgaard prioritizes design in the creation of each of its products. The company holds three patents across its product portfolio. The Carry-On Closet won TIME Magazine’s Best Inventions of 2018, and Shore-Tex received a Fast Company World Changing Ideas Award this year. Solgaard’s commitment to recycling ocean plastics has earned the company a membership in NextWave Plastics, a network of brands that leverage ocean plastics in their supply chains (including IKEA, Dell, HP, and more). 

Solgaard has always focused on direct-to-consumer e-commerce to sell its products. The company intends to continue prioritizing this sales channel but is also nurturing wholesale retail relationships. A partnership with a major national retailer (as of yet unnamed) is expected in Q4 2020. 

Over the last four years, Solgaard has sold 100,000 units of product and generated over $8 million in revenue. The company reported 3x growth between 2018 and 2019, and e-commerce sales are up 465% in 2020 relative to 2019. Last year, Solgaard generated just under $3 million in revenue and operated at a net loss of $475,000.

Next Section: Team


Solgaard is the namesake of founder and CEO Adrian Solgaard, a creative and entrepreneur. After working for several years as a video editor, Adrian founded Streetlight Creative, a creative services agency. He later founded InterLock Bicycle Components, which held a patent for a “hidden” bicycle lock. Solgaard is Adrian’s third entrepreneurial project, beginning in 2016.

Next Section: Other

Growth Plan

Solgaard has two key milestones on the horizon. Most immediately, the company is activating a national retail partnership in Q4 2020, which will represent Solgaard’s most significant investment so far in sales beyond DTC. Then, in early 2021, Solgaard plans to conduct another product launch, this time in the product category “Focus.” The company seemingly pivoted away from travel-focused products at the onset of the COVID pandemic and is attempting to complement existing backpack and luggage products with more home-based offerings. 

Capital raised in this funding round will be distributed between product inventory investments, marketing campaigns, research development, and team salaries. Beyond these upcoming milestones and information on the company’s use of proceeds, Solgaard does not share long-term growth plans. 

Next Section: Rating


Solgaard displays both positive and negative signals for prospective investors to consider, which balance out to a Neutral rating. 

On the positive side, Solgaard has produced impressive traction from a small suite of products over the last several years. The user-centered designs of Solgaard products — combined with the company’s commitment to ocean sustainability — clearly strike a chord with consumers. Earning $8 million in revenue over four years is no small feat. The company has also enjoyed significant success on Kickstarter and has been lauded with prestigious awards from TIME and Fast Company. Solgaard reports strong performance figures despite the COVID pandemic, with additional growth projected from the company’s imminent launch in the stores of a national retail partner. 

On the other hand, Solgaard’s product line is so diverse that some might call it scattered. While the company’s initial products, a backpack and carry-on suitcase, were a logical combination, Solgaard’s recent expansion into wireless charging shelves and a forthcoming “Focus” product seem to be distracting from the company’s most popular roots. It is difficult to determine whether these new product launches are a savvy pivot during COVID or an unfocused distraction that may open the company to competitive advances in any one of its product verticals. Moreover, Solgaard products are high-end and relatively niche. The company may struggle to significantly expand its market presence beyond what traction it already has. 

In sum, Solgaard has been successful at developing innovative and sustainable products, and has several million in revenue to show for it. However, the company’s growth potential during and beyond the COVID pandemic is unclear. New product lines may distract from Solgaard’s core strengths and invite competition, and the market for high-end products like Solgaard’s may quickly become saturated. Therefore, Solgaard is a Neutral deal.

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Solgaard on StartEngine
Platform: StartEngine
Security Type: Equity - Common
Valuation: $24,169,351
Price per Share: $2.00

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