Pristeem

Deal to Watch
BETA

Take care of the clothes you love

Analytics

Raised to Date: $27,904

Aggregate Commitments $
Platform

Wefunder

Start Date

07/29/2020

Close Date

11/20/2020

Min. Goal

$50,000

Max. Goal

$1,070,000

Min. Investment

$100

Security Type

SAFE

Funding Type

RegCF

Series

Seed

Valuation Cap

$8,000,000

Discount Rate

20%

Weekly Commitments $
Status

Active

Reporting Date

09/16/2020

Days Remaining

62

% of Min. Goal

56%

% of Max. Goal

3%

Likelihood of Max
Avg. Daily Raise

$569

# of Investors

73

Momentum
Location

New York, NY

Industry

Consumer Products, Goods & Services

Tech Sector

Cleantech

Distribution Model

B2B

Margin

Medium

Capital Intensity

High

Business Type

Growth

Pristeem, with a valuation cap of $8 million, is raising funds on Wefunder. The company manufactures and sells a self-service garment cleaning device. The device uses steam and an organic chemical to clean an outfit in less than ten minutes. The process makes garment cleaning gentler than hand wash and less expensive than dry-cleaning. Naren Inukoti, Rahul Sheth, and Vishva Somaya founded Pristeem and have raised over $920,000 since its founding. The current crowdfunding round has a minimum goal of $50,000 and a maximum goal of $1,070,000. The funds will be used for Design for Manufacturing, sales and marketing, and inventory. Pristeem has cleaned over 1,000 outfits of more than 200 users and has signed seven contracts with residential and commercial property management companies.

Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$10,000

$0

COGS

$20,000

$0

Tax

$3,928

$0

 

 

Net Income

$-10,000

$0

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$261,017

$0

Accounts Receivable

$0

$0

Total Assets

$263,248

$0

Short-Term Debt

$-10,082

$0

Long-Term Debt

$20,000

$0

Total Liabilities

$9,918

$0

Ratings

last updated 09/16/2020

Research

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