May 4, 2020

New Deals for the Week Ending 05/03/2020

Below are the latest equity crowdfunding raises begun this past week. For additional information, we encourage KingsCrowders to click on the link provided for more details. If interested, be sure and follow how each startup’s respective raise is progressing, and the concepts they are bringing to the marketplace.

Please note, these are not recommendations but are meant only to inform our readers of new investment opportunities.

Be sure and check back with KingsCrowd in the future. We will continue providing updates on each raise as it progresses, particularly if we feel they meet our criteria of being worthwhile as potential investments.

 

ecoText

ecoText, with a post-money valuation of $2.89 million, is raising funds on NetCapital. The company offers a digital textbook subscription for college students, eliminating the cost of study material for students. The books range from classic premium titles to Open Educational Resources. ecoText works as an ecosystem among the publishers, students, universities, and faculty, generating value for all the involved parties. The company was founded by Joel Nkounkou, Nelson Thomas, Evan Shaw, and Dylan Wheeler in 2018. The current round of crowdfunding has a minimum goal of $10,000 and a maximum goal of $255,000, and the proceeds will be used towards V3 application development, management services, digital book licenses, marketing, and working capital. ecoText already has over 50,000 titles available and has 450 users from 25 different universities.

 

MentalHappy

MentalHappy, with a pre-money valuation of $6 million, is raising funds on StartEngine. It is an online community working towards creating a better world of mental health. MentalHappy helps people with practical tools and support to build mental health and assists them in their journey towards healing. MentalHappy was founded by Tamar Lucien Blue in 2016. The proceeds of the current crowdfunding campaign, with a minimum target of $9,997.19 and a maximum target of $106,996.81, will be used to develop partnerships with large employers and insurance companies. MentalHappy already has a letter of intent with Angle Health, a customer relationship with Devoted Health I, and existing relationships with over 30 employers, including SAP Concur, eBay, and Boston Scientific.

 

Sniffy Labs

Sniffy Labs, with a $2.5 million valuation cap, is raising funds on WeFunder. It is an online dog training app that allows dog owners to receive professional and smooth dog training experience. The training includes all aspects, including in-app training plans, video tutorials, daily practice, and professional advice from certified canine trainers. Howard Shyng and Ting Zhu founded Sniffy Labs in 2019. The proceeds of the current crowdfunding campaign, with a minimum raise of $20,000 and a maximum raise of $50,000, will be used towards marketing and research & development. Sniffy Labs launched its closed beta in December 2019 with 50 dog owners, of which 39 got converted to customers. The company is led by an experienced and passionate team and has the first-mover advantage in innovating the dog training market.

 

Land Betterment Corporation

Land Betterment Corporation, a social and environmental impact organization with a valuation of $70 million, is raising funds on Fundopolis. The company epicycles former coal mining sites for sustainable community development and job creation. The company mainly supports those who were dependent on coal mining jobs for employment and livelihood. Land Betterment Corporation was founded by Kirk Taylor and Mark Jensen in February 2020. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $1,070,000, and the funds will be used to support the ogranization’s growth. Land Betterment Corporation is bringing about impactful change through its efforts. It has partnered with experts in each division to reclaim coal mining sites, developing them, providing employment, and commencing environmental solutions work.

 

Drifter Spirits- Avua Cachaca

Drifter Spirits- Avua Cachaca, with a valuation cap of $5.47 million, is raising funds on Wefunder. The company functions to use its key relationships with national distributors and top bars, restaurants, and hotels to market spirits. Avua Cachaca is the beloved spirit of Brazil and a leading brand marketed by  Drifter Spirits. The other brands in the portfolio of Drifter Spirits include Scandinavian botanical spirit Svol Aquavit and the Italian liquor range Gagliardo Bitter. Drifter Spirits- Avua Cachaca was founded by Peter Nevenglosky and Nathan Whitehouse in 2011 and has raised over $1.7 million since its inception. The current round of crowdfunding has a minimum raise of $20,000 and a maximum raise of $100,000, and the proceeds will be used to purchase inventory and withstand the challenges during the COVID pandemic. Drifter Spirits- Avua Cachaca distributes its spirits across 42 states in the US and generated revenue of $1.3 million in 2019.

 

PRIMARI Analytics

PRIMARI Analytics, with a $5.5 million valuation cap, is raising funds on Wefunder. The company has developed smart technology that allows users to communicate with their software programs like they are talking to other people. The artificial intelligence technology is convenient and helps to save hours of manual work. PRIMARI Analytics has developed DAN, the AI-powered digital analyst who understands natural language. PRIMARI Analytics was founded by Francisco Gomez and Andrei Volgin in 2018. The proceeds of the current round of crowdfunding, with a minimum target of $50,000 and a maximum target of $1,070,000, will be used towards product development and operations and administrative expenses. PRIMARI Analytics has big market potential and is led by a team of technology innovators, data experts, and serial entrepreneurs.

 

Tribe Pilot

Tribe Pilot, a mobile companion to organize and plan outdoor adventures, is raising funds on Wefunder. It is a social tool built specifically to discover, organize, and execute outdoor adventures using simple tools. The tools included in Tribe Pilot are Trip Builder, Crew Recruiter, Route Picker, and Gear Organizer. The platform also has the ability to remember all your adventures. Tribe Pilot was founded by Matt Smith in 2017 and has raised over $300,000 since its founding. The current crowdfunding campaign has a minimum goal of $50,000 and a maximum goal of $107,000, and the funds will be used for paid marketing spend and operations for scaling. Tribe Pilot is focused on the triple bottom line and is expected to scale profitably in 2020.

 

Glyph

Glyph, with a $9 million valuation cap, is raising funds on Republic. The company designs and sells digitally-knit loafers that fit perfectly into days and nights. Glyphs are the only pair of shoes anyone needs for everyday use as they go with absolutely anything, including pants, shorts, suits, and dresses. The shoes are machine washable, rain resistant, and highly versatile. Glyph was founded by Pranav Sachdev and Alan Lau in 2017 and has raised more than $400,000 since its inception. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $1,070,000, and the funds will be used to reach a broader audience, expand into new markets, and develop more versatile products. Glyph has over 2,000 customers, with a Net Promoter Score of 62. The company generated $250,000 in revenue from October 2019 to February 2020, with 60% month-over-month growth.

 

Modtempo

Modtempo, a furniture shop in Cleveland, OH, is raising funds on Honeycomb. The company provides furniture solutions focused on the customer experience and handles every aspect of the designing, buying, and the delivery process. Modtempo is creating its own lines of furniture with designer Kevin Busta and is partnering with John Schneider for sourcing. Modtempo was founded by David Reamensnyder in 2013. The proceeds of the current round of crowdfunding, with a minimum goal of $15,000 and a maximum goal of $43,500, will be used for growth and expansion. Modtempo has moved from one sale in year one to 1,100 orders by year three and has designed furniture for fashion designers, movie stars, and other celebrities. The company also has an augmented reality app for customers to try the furniture in their homes through their cell phones.

 

UnBar Cafe

UnBar Cafe, an alcohol-free socializing cafe in Cleveland, OH, is raising funds on Honeycomb. The cafe is focused on enriching the lives of the patrons through its activities, products, and services. It is a Think Better, Feel Better, and Be Better place focused on the alignment of the mind, body, and soul. The cafe serves fresh food, coffee, teas, and smoothies and has a vibe of well-being. UnBar Cafe was founded by Melissa Hirsch, with over 30 years of experience in business development and operations management. The proceeds of the current crowdfunding campaign, with a minimum target of $10,000 and a maximum target of $35,000, will be used for working capital during and post-COVID-19. UnBar Cafe works on wellness and personal development and holds strong future potential.

 

StarkFresh

StarkFresh, a 501(c)3 nonprofit in Canton, OH, is raising funds on Honeycomb. The organization tackles the causes of hunger and focuses on eradicating poverty, servicing Stark County. It is connecting consumers, growers, and producers to create a food system through locally-sourced, nutritional, and affordable food items. StarkFresh is led by Thomas Phillips as the Executive Director. The current round of crowdfunding has a minimum goal of $10,000 and a maximum goal of $50,000, and the funds will be used for the expansion of mobile grocery market and neighborhood grocery stores offerings of the organization. StarkFresh is one of the few groups in Stark County offerings food discounts, seed packets, and mobile grocery markets.

 

StartEngine Crowdfunding

StartEngine Crowdfunding, with a pre-money valuation of $190 million, is raising funds on TruCrowd. It is a crowdfunding platform that allows people to invest in startups and early stage companies. At the same time, the entrepreneurs also get the opportunity to raise funds from the public through StartEngine Crowdfunding. StartEngine Crowdfunding was founded by Howard Marks and Kevin O’Leary in 2015. The proceeds of the current round of crowdfunding, with a minimum raise of $10,000 and a maximum raise of $370,170, will be used to launch more companies, hire top talent, and fund the launching of a secondary trading platform for investors. StartEngine Crowdfunding has already helped over 325 companies raise more than $125 million of funding to grow and expand their business. The platform makes money through campaign success fee, campaign management fee, and equity in the companies raising funds.


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