Solgaard

Neutral
BETA

Innovative and sustainably designed gear

Analytics

Raised to Date: $319,210

Aggregate Commitments $
Platform

StartEngine

Start Date

09/22/2020

Close Date

03/22/2021

Min. Goal

$10,000

Max. Goal

$1,070,000

Min. Investment

$300

Security Type

Equity - Common

Funding Type

RegCF

Series

Seed

Pre-Money Valuation

$24,169,351

Weekly Commitments $
Status

Active

Reporting Date

10/18/2020

Days Remaining

153

% of Min. Goal

3,192%

% of Max. Goal

30%

Likelihood of Max
Avg. Daily Raise

$12,277

# of Investors

339

Momentum
Location

New York, NY

Industry

Consumer Products, Goods & Services

Tech Sector

Non-Tech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

High

Business Type

Growth

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

Ratings

last updated 10/20/2020

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