Undesert (2022)

Undesert (2022)

Closed: Jun. 2022

About this raise

Undesert, with a valuation of $10 million, is raising funds on Fundify. The company has developed its patented water desalination technology that will help to reverse the adverse effects of global warming. The technology operates on 100% solar energy and helps to convert saline water to distilled water and dry salt. Undesert is already operating commercially and has proven operations in UAE for two years. Nicholas Seet founded Undesert in October 2021. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $245,000. The campaign proceeds will be used for land acquisition, desalination equipment, regulatory permits, engineering design, installation labor, supplies, and site management.

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Investment Overview

Invested this round: $25,050

Deal Terms

Total Commitments

Platform
Fundify
Start Date
01/20/2022
Close Date
06/30/2022
Min. Goal
$25,000
Max Goal
$250,000
Min. Investment

$25

Security Type

SAFE

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$10,000,000

Discount

20%

Company & Team

Company

Year Founded
2021
Industry
Farming & Agriculture
Tech Sector
AgriTech
Distribution Model
B2B
Margin
Low
Capital Intensity
High
Location
LOS ALAMOS, New Mexico
Business Type
Growth
Company Website
Visit Website

Team

Employees
3
Prior Founder Exits?
Yes
Founder Name
Nicholas Seet
Title
CEO
Founder Name
Hill Kemp
Title
CTO

Financials

 Revenue
$1,217
 Monthly Burn
$564
 Runway
16 months

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$1,217

$4,247

COGS

$7,982

$23,000

Tax

$0

$0

 

 

Net Income

$-6,765

$-18,753

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$9,000

$10,000

Accounts Receivable

$0

$0

Total Assets

$450,000

$400,000

Short-Term Debt

$0

$0

Long-Term Debt

$0

$0

Total Liabilities

$0

$0

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
06/30/2022 Fundify $10,000,000 $25,050 SAFE Funded RegCF
01/19/2022 Fundify $10,000,000 $544,900 SAFE Funded Test the Waters / RegCF
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Growth Charts

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Employee History

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Undesert on Fundify 2022
Platform: Fundify
Security Type: SAFE
Valuation: $10,000,000

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Follow Undesert on Fundify 2022

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