ElectroSpit

ElectroSpit

Early Stage

Mobile talkbox instrument for musicians of any skill level Invest

Mobile talkbox instrument for musicians of any skill level Invest

Overview

Raised to Date: Raised: $133,805

Total Commitments ($USD)

Platform

Republic

Start Date

08/07/2022

Close Date

12/28/2022

Min. Goal
$25,000
Max. Goal
$535,000
Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$8,000,000

Discount

20%

Venture Capital Investors:

Rolling Commitments ($USD)

Status
Funded
Reporting Date

12/31/2022

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$942

# of Investors

264

Momentum
Funded
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Year Founded

2017

Industry

Media, Entertainment & Publishing

Tech Sector

Medtech

Distribution Model

B2C

Margin

High

Capital Intensity

High

Location

Oakland, California

Business Type

Growth

Company Website

ElectroSpit, with a valuation of $8 million, is raising funds on Republic. The company has created an iconic mobile and tubeless talkbox for the future. The talkbox has an integrated iOS synth app and rechargeable batteries to make it convenient and wearable for use anytime and anywhere. The talkbox and app, ESX-1, can also be integrated with an existing setup and have a modular user experience. ElectroSpit has been awarded first place at Guthman Musical Instrument Competition and has been featured on the #1 hit ‘Levitating’ by Dua Lipa. Bosco Kante and Maya Kante founded ElectroSpit in November 2017. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $535,000. The campaign proceeds will be used for manufacturing more units of ESX-1 and designing ESX-2.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$290,536

$362,688

COGS

$112,456

$283,354

Tax

$0

$0

 

 

Net Income

$127,147

$-3,011

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$229,554

$12,200

Accounts Receivable

$0

$0

Total Assets

$355,001

$66,781

Short-Term Debt

$49,418

$137,434

Long-Term Debt

$312,040

$70,880

Total Liabilities

$361,458

$208,314
Financials as of: 08/07/2022
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
ElectroSpit 12/27/2022 Republic $8,000,000 $133,805 SAFE Funded RegCF
ElectroSpit 09/29/2019 Microventures $5,000,000 $61,831 Convertible Note Funded RegCF
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Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Valuation History

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.

Employee History

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ElectroSpit on Republic 2022
Platform: Republic
Security Type: SAFE
Valuation: $8,000,000

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