Solgaard
Innovative and sustainably designed gear
Analytics
Raised to Date: $319,210
Aggregate Commitments $
StartEngine
09/22/2020
03/22/2021
$10,000
$1,070,000
$300
Equity - Common
RegCF
Seed
$24,169,351
Weekly Commitments $
Active
10/18/2020
153
3,192%
30%
$12,277
339
New York, NY
Consumer Products, Goods & Services
Non-Tech
B2B/B2C
Medium
High
Solgaard, with a pre-money valuation of $24.2 million, is raising funds on StartEngine. The company makes innovative travel and lifestyle gear by upcycling ocean plastic into its proprietary fabric, Shore-Tex. The products of Solgaard cater to the travel, work, and home needs of modern customers looking for sustainability. Adrian Solgaard and Chris Cavill founded Solgaard in 2012. The current crowdfunding round has a minimum goal of $10,000 and a maximum goal of $1,070,000, and the proceeds will be used to diversify the product offering, activate new marketing tactics, grow the inventory, and develop new materials. Solgaard has been awarded Time Magazines’ Best Inventions 2018 and FastCompany’s World-Changing Ideas 2020. The company tripled its sales from 2018 to 2019 and achieved a 465% e-commerce growth from 2019 to YTD 2020.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$2,981,927 |
$1,078,193 |
|
COGS |
$1,374,046 |
$716,555 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-475,002 |
$-181,457 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$390,224 |
$35,398 |
|
Accounts Receivable |
$324,540 |
$76,667 |
|
Total Assets |
$1,164,756 |
$209,461 |
|
Short-Term Debt |
$451,406 |
$268,245 |
|
Long-Term Debt |
$1,397,136 |
$0 |
|
Total Liabilities |
$1,848,542 |
$418,245 |
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