The Axle Workout
Early Stage
Improve life expectancy with better body composition
Analytics
Raised: $142,968
Aggregate Commitments $
Platform
Republic
Start Date
12/01/2021
Close Date
04/30/2022
Min. Goal
$25,000
Max. Goal
$1,070,000
Min. Investment
$100
Security Type
SAFE
Funding Type
RegCF
Series
Pre-Seed
Valuation Cap
$11,000,000
Discount Rate
20%
Rolling Commitments $
Status
Funded
Reporting Date
05/01/2022
Days Remaining
Funded
% of Min. Goal
572%
% of Max. Goal
13%
Likelihood of Max
Funded
Avg. Daily Raise
$953
Momentum
Funded
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Founder Profile
Location
NEW YORK, New York
Industry
Fitness & Wellness
Tech Sector
HealthTech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
Low
The Axle Workout, with a valuation of $11 million, is raising funds on Republic. The company has developed a proprietary training tool that helps in body composition analysis and strength training. The flagship product of The Axle Workout, The Axle barbell, is a lightweight and collapsible barbell that makes home workouts easy and complete. The Axle Workout has generated $1.5 million in lifetime revenues as of November 2021 and reported a 2,000% quarter-over-quarter growth from the first quarter of 2019 to the first quarter of 2021. Andrew Page and Anuj Patel founded The Axle Workout in November 2016. 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 for marketing, B2B sales, and bringing new products to life.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$680,196 |
$262,723 |
|
COGS |
$355,530 |
$117,797 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-110,724 |
$-37,309 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$41,409 |
$21,343 |
|
Accounts Receivable |
$6,310 |
$0 |
|
Total Assets |
$569,863 |
$289,237 |
|
Short-Term Debt |
$112,876 |
$79,218 |
|
Long-Term Debt |
$515,259 |
$157,567 |
|
Total Liabilities |
$628,135 |
$236,785 |
Financials as of: 12/01/2021
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