Overview

Raised to Date: Raised: $4,999,968

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

Total Commitments ($USD)

Platform

StartEngine

Start Date

06/20/2022

Close Date

07/20/2023

Min. Goal

$10,000

Max. Goal

$5,000,000

Min. Investment

$100

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    

Price Per Share

$1.00

Pre-Money Valuation

$40,000,000

Rolling Commitments ($USD)

Status

Funded

Reporting Date

07/30/2023

Days Remaining

Funded

% of Min. Goal

Funded

% of Max. Goal

Funded

Likelihood of Max

Funded

Avg. Daily Raise

$12,690

# of Investors

5,965

Momentum

Funded

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Timeplast

Year Founded

2021

Industry

Industrial Services

Tech Sector

Cleantech

Distribution Model

B2B

Margin

Medium

Capital Intensity

High

Location

Longwood, Florida

Business Type

High Growth

Company Website

Timeplast, with a valuation of $40 million, is raising funds on StartEngine. The company has developed a techno-organic material that goes away within 60 hours of being discarded. The material has the potential to replace all plastics and fully disintegrate in water. Timeplast is truly sustainable, self-disappearing, plastic-free, and bio-based. Manuel Rendon founded Timeplast in December 2021. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $1,070,000. The campaign proceeds will be used for marketing, community outreach, app maintenance, and adding new app features.

Summary Profit and Loss Statement

	Most Recent Year	Prior Year
Revenue	$14,945	$0
COGS	$1,881	$0
Tax	$0	$0
Net Income	$-343,664	$-288,696

Summary Balance Sheet

	Most Recent Year	Prior Year
Cash	$31,504	$257,849
Accounts Receivable	$0	$0
Total Assets	$31,504	$257,849
Short-Term Debt	$570,438	$530,000
Long-Term Debt	$0	$0
Total Liabilities	$570,438	$530,000

Financials as of: 06/20/2022

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Look at the closest piece of plastic around you. It may be a single-use bag, a disposable package, or a pill container. Whatever it is, it will probably end up in a landfill. The plastic economy is a “take-make-waste” model. Only one out of every 10 plastic items is recycled, and the rest take up to 500 years to degrade into microplastics that can be toxic to humans. And every year, we eat, drink, and breathe 74,000 pieces of microplastic. 

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Timeplast Founder Manuel Rendon on Dissolving the Plastic Problem

Plastic helps us carry groceries home, protect smartphones, and get from place to place. It is deeply integrated into daily life — but it’s also becoming further embedded into both the environment and people’s bodies. Plastic is so prevalent that it can be found in human blood, and the average individual is expected to eat more than 40 pounds of it in their lifetime.

Timeplast is working on an alcohol-based, water-soluble plastic alternative. Its patented material is versatile and completely dissolves in 12 hours — not so fast that it can’t serve its purpose but fast enough to conveniently get rid of. We reached out to founder, inventor, and CEO Manuel Rendon to hear more about Timeplast’s applications and how it can conserve energy.

Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.

Read Founder Interview