Universal Transit
Early Stage
Reinventing Auto Transportation with AI, saving millions in time and resources
Overview
Raised: $9,500
Total Commitments ($USD)
Platform
Republic
Start Date
04/23/2024
Close Date
08/05/2024
Min. Goal
$400,000
Max. Goal
$1,235,000
Min. Investment
$250
Security Type
SAFE
SEC Filing Type
RegCF
Valuation Cap
$28,000,000
Discount
0%
Rolling Commitments ($USD)
Status
Active
Reporting Date
05/03/2024
Days Remaining
93
% of Min. Goal
2%
% of Max. Goal
1%
Likelihood of Max
Avg. Daily Raise
$950
# of Investors
15
Momentum
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Year Founded
2020
Industry
Transportation, Automotive, Aviation, & Aerospace
Tech Sector
EnterpriseTech
Location
Manalapan Township, New Jersey
Universal Transit, with a valuation of $28 million, is raising funds on Republic. The company has developed an AI-based platform for efficient and profitable auto transportation. Universal Transit uses machine intelligence to increase performance and efficiency across on-time pickups and deliveries, route profitability, and load-carrying capacity rate. The business has a carrier and broker network of over 2,500 and generated $9.6 million in revenue in 2023. Giorgi Milorava founded Universal Transit in October 2020. The current crowdfunding campaign has a minimum target of $400,000 and a maximum target of $1.24 million. The campaign proceeds will be used for sales and marketing, core technology and product development, and trucks and trailers.
Summary Profit and Loss Statement
| FY 2023 | FY 2022 | |
|---|---|---|
|
Revenue |
$9,681,210 |
$8,078,169 |
|
COGS |
$5,383,838 |
$6,047,614 |
|
Tax |
$9,527 |
$8,939 |
| ||
| ||
|
Net Income |
$44,850 |
$36,069 |
Summary Balance Sheet
| FY 2023 | FY 2022 | |
|---|---|---|
|
Cash |
$57,621 |
$6,943 |
|
Accounts Receivable |
$239,697 |
$0 |
|
Total Assets |
$2,415,353 |
$839,690 |
|
Short-Term Debt |
$691,823 |
$593,621 |
|
Long-Term Debt |
$1,432,610 |
$0 |
|
Total Liabilities |
$2,124,433 |
$593,621 |
Financials as of: 04/23/2024
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