Techless
About this raise
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.
Investment Overview
Invested : $340,307
Deal Terms
Total Commitments
- Platform
- Wefunder
- Start Date
- 03/07/2024
- Close Date
- 11/26/2024
$50,000
$1,235,000
$100
SAFE
Early Stage
RegCF
$8,600,000
$10,000,000
0%
Company & Team
Company
- Year Founded
- 2024
- Industry
- Consumer Products, Goods & Services
- Tech Sector
- Distribution Model
- B2C
- Margin
- Medium
- Capital Intensity
- Low
Financials
- Revenue -53% YoY
-
$471,659
as of FY2023
- Monthly Burn
-
$70,000
as of FY2023
-
Runway
-
1.9 months
as of
- Gross Margin
-
39%
as of FY2023
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Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $2,600,000
- VC Backed?
- Yes
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 11/26/2024 | Wefunder | $10,000,000 | $340,307 | SAFE | Funded | RegCF |