sona labs
Early Stage
music as medicine: science-backed music for anxiety relief
Overview
Raised: $82,471
Total Commitments ($USD)
Platform
StartEngine
Start Date
10/07/2022
Close Date
01/04/2023
Min. Goal
$10,000
Max. Goal
$1,235,000
Min. Investment
$300
Security Type
Equity - Common
Series
Seed
Funding Type
RegCF
Price Per Share
$20.00
Pre-Money Valuation
$20,000,000
Rolling Commitments ($USD)
Status
Funded
Reporting Date
01/31/2023
Days Remaining
Funded
% of Min. Goal
825%
% of Max. Goal
7%
Likelihood of Max
Funded
Avg. Daily Raise
$927
# of Investors
26
Momentum
Funded
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Location
Los Angeles, California
Industry
Healthcare & Pharmaceuticals
Tech Sector
HealthTech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
sona labs, with a valuation of $20 million, is raising funds on StartEngine. It is a digital therapeutics company that uses the power of restorative music to improve mental health. The company makes original music based on scientific research and delivers it through virtual reality, augmented reality, mobile phones, and live experiences. The clinical trials of sona labs have been approved by FDA, making it the first FDA-approved sound therapy solution for anxiety. Neal Sarin founded sona labs in April 2019. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $1,235,000. The campaign proceeds will be used to partner with global healthcare institutions and hospitals to distribute the app.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$11,199 |
$3,650 |
|
COGS |
$121,144 |
$86,145 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-390,150 |
$-146,739 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$191,996 |
$9,753 |
|
Accounts Receivable |
$560 |
$0 |
|
Total Assets |
$192,557 |
$9,753 |
|
Short-Term Debt |
$96 |
$700 |
|
Long-Term Debt |
$525,000 |
$76,000 |
|
Total Liabilities |
$525,096 |
$76,700 |
Financials as of: 10/07/2022
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