Oscilla Power

Deal To Watch
BETA

Wave energy converter that has 16 granted patents and grant funding from the U.S. Department of Energy.

Analytics

Raised to Date: $107,269

Aggregate Commitments $
Platform

Microventures

Start Date

12/24/2020

Close Date

03/22/2021

Min. Goal

$50,000

Max. Goal

$139,505

Min. Investment

$100

Security Type

Convertible Note

Funding Type

RegCF

Series

Seed

Valuation Cap

$13,000,000

Discount Rate

20%

Weekly Commitments $
Status

Active

Reporting Date

01/20/2021

Days Remaining

59

% of Min. Goal

215%

% of Max. Goal

77%

Likelihood of Max
Avg. Daily Raise

$3,973

# of Investors

198

Momentum
Location

Seattle, Washington

Industry

Energy, Power, & Natural Resources

Tech Sector

Cleantech

Distribution Model

B2B

Margin

Medium

Capital Intensity

High

Business Type

High Growth

Oscilla Power, with a valuation cap of $13 million, is raising funds on MicroVentures. The company is developing energy conversion equipment to harness the power of ocean waves. The Triton, the company’s flagship wave energy converter, has undergone years of concept development, product validation, and laboratory and small-scale ocean trials to test its viability. Balky Nair, Ph.D. and Rahul Shendure founded the company in 2009. The crowdfunding campaign has a minimum raise of $50,000 and a maximum raise of $139,505. Oscilla Power closed a crowdfunding round with MicroVentures in November 2020 totaling $395,495. The company is opening another round aiming to raise a maximum amount of $139,505 to complete a major milestone, namely completion of construction of its first commercial-scale product –Triton C system which is targeted for deployment in Hawaii in Q1 2021.

Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$1,459,100

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-86,485

$-444,635

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$145,279

$0

Accounts Receivable

$290

$85,167

Total Assets

$396,648

$488,402

Short-Term Debt

$229,194

$831,186

Long-Term Debt

$831,472

$0

Total Liabilities

$1,060,666

$2,334,266

Summary of Crowdfunding Raises
Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
03/22/2021 Microventures $13,000,000 $107,269 Convertible Note Active RegCF
11/16/2020 Microventures $13,000,000 $365,700 Convertible Note Confirmed Closed RegCF

Ratings

last updated 01/21/2021

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