Target Arm

Target Arm

Growth Stage

Drones On the Move

Drones On the Move

Overview

Raised to Date: Raised: $481,517

Total Commitments ($USD)

Platform

StartEngine

Start Date

02/27/2024

Close Date

04/28/2024

Min. Goal
$14,997
Max. Goal
$1,234,920
Min. Investment

$481

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$40.10

Pre-Money Valuation

$59,986,994

Rolling Commitments ($USD)

Status

Active

Reporting Date

04/15/2024

Days Remaining

13

% of Min. Goal

3,211%

% of Max. Goal

39%

Likelihood of Max
unlikely
Avg. Daily Raise

$10,032

# of Investors

113

Momentum
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Year Founded

2017

Industry

Logistics, Delivery, & Supply Chain

Tech Sector

Hardwaretech

Distribution Model

B2B

Margin

High

Capital Intensity

High

Location

Ridgefield, Connecticut

Business Type

Growth

Target Arm, with a valuation of $59.99 million, is raising funds on StartEngine. The autonomous robotics company specializes in hardware and software products for drone launch and recovery on the move. Target Arm is commercializing its first product, Tular, which enables launch and recovery for both rotary and fixed-wing drones from any moving platform. The device finds a wide variety of usages, including package delivery, arsenal SMET, wind farms, first responders, and military operations. Jeffrey A. McChesney and Ryan Bigham founded Target Arm in April 2017. The current crowdfunding campaign has a minimum target of $14,997.40 and a maximum target of $1.23 million. The campaign proceeds will be used for research and development, sales and marketing, and general and administrative expenses.

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$950,178

$1,062,120

COGS

$10,520

$33,699

Tax

$0

$0

 

 

Net Income

$-520,832

$409,702

Summary Balance Sheet

FY 2022 FY 2021

Cash

$952,909

$1,094,093

Accounts Receivable

$150,000

$5,995

Total Assets

$2,060,891

$1,176,372

Short-Term Debt

$0

$0

Long-Term Debt

$0

$0

Total Liabilities

$0

$0

Financials as of: 02/27/2024
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Target Arm on StartEngine 2024
Platform: StartEngine
Security Type: Equity - Common
Valuation: $59,986,994
Price per Share: $40.10

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