SOMOS
Early Stage
Crowdsourcing the Latino Genome to accelerate drug discovery
Analytics
Raised: $31,634
Aggregate Commitments $
Platform
Republic
Start Date
06/08/2022
Close Date
10/09/2022
Min. Goal
$25,000
Max. Goal
$1,070,000
Min. Investment
$100
Security Type
SAFE
Funding Type
RegCF
Series
Seed
Valuation Cap
$20,000,000
Discount Rate
0%
Rolling Commitments $
Status
Active
Reporting Date
06/25/2022
Days Remaining
106
% of Min. Goal
127%
% of Max. Goal
3%
Likelihood of Max
Avg. Daily Raise
$1,861
Momentum
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Location
San Francisco, California
Industry
Healthcare & Pharmaceuticals
Tech Sector
HealthTech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
SOMOS, with a valuation of $20 million, is raising funds on Republic. The company is building the largest decentralized Pan-American biobank to accelerate drug discovery. The biobank, called Familia, is being built through unique datasets and ancestral DNA sequencing. The data bank of underrepresented groups, including Latinos, Hispanics, and Native Americans, will help improve clinical research, improve prediction capacity for disease risk scores, and provide improved DNA services to minorities. Christian Rodriguez and Federico von Son de Fernex founded SOMOS in July 2020. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $1,070,000. The campaign proceeds will be used to add more users, collect more blood samples, and increase revenue.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$196,306 |
$30,890 |
|
COGS |
$25,441 |
$2,083 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-40,956 |
$14,986 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$498,755 |
$15,195 |
|
Accounts Receivable |
$0 |
$1,328 |
|
Total Assets |
$498,755 |
$16,523 |
|
Short-Term Debt |
$421,368 |
$1,537 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$421,368 |
$1,537 |
Financials as of: 06/08/2022
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