Overview

Raised to Date: Raised: $96,400

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

Total Commitments ($USD)

Platform

Wefunder

Start Date

07/01/2021

Close Date

10/14/2021

Min. Goal

$50,000

Max. Goal

$250,000

Min. Investment

$100

Security Type

Convertible Note

Series

Pre-Seed

SEC Filing Type

RegCF    

Early Bird Val. Cap

$2,000,000

Valuation Cap

$3,000,000

Discount

18%

Rolling Commitments ($USD)

Status

Funded

Reporting Date

10/30/2021

Days Remaining

Funded

% of Min. Goal

Funded

% of Max. Goal

Funded

Likelihood of Max

Funded

Avg. Daily Raise

$927

# of Investors

43

Momentum

Funded

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Exist Tribe

Year Founded

2019

Industry

Fitness & Wellness

Tech Sector

HealthTech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

High

Location

Chula Vista, California

Business Type

Growth

Company Website

Exist Tribe, with a valuation cap of $3 million, is raising funds on Wefunder. The company has used patent-pending technology to create the world’s smartest sleep companion. Yoga Sleep Node comes with perfectly engineered sound, full-spectrum morning light, and Zero-Blue night light to improve sleep quality. Robert Sweetman founded Exist Tribe in January 2019. The proceeds of the current crowdfunding round, with a minimum goal of $50,000 and a maximum goal of $250,000, will be used for product release marketing campaign, product manufacturing, inventory, and software development. Exist Tribe’s flagship product has $18,000 in pre-orders and is going to market this year. The product has also received interest from the US Navy for ship racks.

Summary Profit and Loss Statement

	Most Recent Year	Prior Year
Revenue	$22,180	$34,783
COGS	$32,295	$25,548
Tax	$623	$0
Net Income	$-44,482	$-29,030

Summary Balance Sheet

	Most Recent Year	Prior Year
Cash	$11,195	$4,335
Accounts Receivable	$0	$0
Total Assets	$11,195	$4,335
Short-Term Debt	$85,069	$33,725
Long-Term Debt	$0	$0
Total Liabilities	$85,069	$33,725

Financials as of: 07/01/2021

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Exist Tribe Founder Robert Sweetman on Disrupting Sleep Science

It’s no secret that sleep plays an important role in our physical and mental health. Yet millions of Americans struggle to get enough rest every night. Even the smallest factors, such as light and sound, can interrupt sleep.

Exist Tribe is offering a solution for restless nights. The company has developed a smart device called a REST Node with lights and sounds to aid sleep. Exist Tribe is also developing Yoga Pods, which are designed to create an ideal sleeping environment. We reached out to Exist Tribe founder and CEO Robert Sweetman to learn the inspiration behind the company.

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

Read Founder Interview