FoldiMate on SeedInvest

Robotic laundry folder for home and business use.

Raise to date: $53,300

Reporting Date: 07/03/2019

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SEC Filing Data from Kingscrowd

FoldiMate, with a valuation cap of $35 million, is raising funds on SeedInvest. The company is applying robotics to the most mundane house chore, laundry folding. The robotics technology of FoldiMate will be able to fold the clothes automatically, quickly and easily, and put them away in neat piles. Of the algorithms and patents, two are granted, ten filed, and twelve drafted. FoldiMate was founded by Gal Rozov and has already raised $8.3 million previously from BSH Home Appliances Group. The current crowdfunding round has a size of $3 million, and the proceeds will be used for R&D, prototypes, IP filings, field testing, marketing, and general expenses. FoldiMate already has 350,000 potential customers and 250 businesses on its pre-order waitlist, of which 12,500 have also paid a deposit.