Techless

Techless

Early Stage

Healthy phones to end smartphone addiction

Healthy phones to end smartphone addiction

Overview

Raised to Date: Raised: $0

Total Commitments ($USD)

Platform

Wefunder

Start Date

03/06/2024

Close Date

07/06/2024

Min. Goal
$50,000
Max. Goal
$1,235,000
Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$8,600,000

Valuation Cap

$10,000,000

Discount

0%

Rolling Commitments ($USD)

Status

Active

Reporting Date

04/15/2024

Days Remaining

81

% of Min. Goal

0%

% of Max. Goal

0%

Likelihood of Max
unlikely
Avg. Daily Raise

$0

Momentum
cold.svg
Create a free account today to gain access to KingsCrowd analytics.
Year Founded

2024

Industry

Consumer Products, Goods & Services

Tech Sector

Hardwaretech

Distribution Model

B2C

Margin

Medium

Capital Intensity

Low

Location

Shiner, Texas

Business Type

Growth

Techless, with a valuation of $10 million, is raising funds on Wefunder. The company is creating an era of healthy tech with its healthy phones to end smartphone addiction. Techless’ Wisephone is the first phone made with mental health in focus and strikes a balance between the simplicity of old phones and the convenience of smartphones. The business has generated $2.25 million in revenue with a 58.5% margin and is on track to reach $10 million in revenue in three years. Christopher Kaspar founded Techless in March 2019. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1.24 million. The campaign proceeds will be used for working capital, inventory purchase, development of new product concept, and ad spend and PR for product launch.

Summary Profit and Loss Statement

FY 2023 FY 2022

Revenue

$471,659

$892,199

COGS

$287,828

$463,741

Tax

$0

$0

 

 

Net Income

$-1,155,415

$-1,200,149

Summary Balance Sheet

FY 2023 FY 2022

Cash

$60,232

$172,285

Accounts Receivable

$0

$0

Total Assets

$359,594

$592,240

Short-Term Debt

$82,667

$56,390

Long-Term Debt

$1,696,492

$800,000

Total Liabilities

$1,779,159

$856,390

Financials as of: 03/06/2024
Create a free account today to gain access to KingsCrowd analytics.

Funding data not publicly available

Upgrade to gain access

Pay Monthly
Annually (Save 17%)

Edge

$25 /month
billed annually
Free portfolio tracking, data-driven ratings, AI analysis and reports
Plan Includes:
Everything in Free, plus
Company specific KingsCrowd ratings and analyst reports
Deal explorer and side-by-side comparison
Startup exit and failure tracking
Startup market filters and historical industry data
Advanced company search ( with ratings)
Get Edge Annual
Already a member? Log in here.

Ratings KingsCrowd Startup Rating Methodology Article

Blurred Ratings Bars Blurred Ratings Bars
Founders: enhance your startup's credibility on KingsCrowd. Create an account to claim this raise page.
Add to portfolio
Techless on Wefunder 2024
Platform: Wefunder
Security Type: SAFE
Valuation: $10,000,000

Follow company

Follow Techless on Wefunder 2024

Buy Techless's Deal Report

Techless Deal Report

Get KingsCrowd’s comprehensive report on Techless including:

  • How our proprietary algorithm rates their current capital raise (1-5 stars)
  • Detailed price, market, team, differentiators, performance, and risk ratings
  • Whether Techless is undervalued or overvalued
  • Scores on the founding team and key personnel's background and expertise

Buy the Techless deal report for only $10!

Email address:
Looking to buy more than one deal report? Get unlimited reports by upgrading to Edge