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Redefining Human
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$1,075,643.48 Raised
REASONS TO INVEST
TEAM
Aadeel Akhtar • Founder, CEO, President, Secretary, Treasurer, CFO
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Whitney Akhtar, LCSW • Director of Human Resources
Jesse Cornman • Director of Engineering
the pitch
Advanced Bionic Technology Made Accessible to All
PSYONIC believes that every individual with a limb difference deserves access to the best available prosthetic devices. Setting out to develop a new kind of bionic hand, our team was founded by an engineer, and sought the expertise of doctors, designers, clinicians, public health experts, social workers, and people with limb differences, in order to create technology that would be as accessible as it is innovative.
The result of these efforts is the Ability Hand™ – an affordable, lightweight, multi-articulated bionic hand, with instant sensory feedback so users can truly feel what they touch.
THE problem & our solution
A Revolutionary Solution to a Long-Standing Need
Despite some advances in mobility technology over the past several decades, many of today’s options still fail to deliver in terms of comfort, agility, and controllability. Many people with a limb difference consider hooks inconvenient (source), while 3D-printed, myoelectric, or multi-articulated devices tend to be costly and lack functionality. These approaches don’t offer the kind of touch feedback that is so important to users.
So we built something better. PSYONIC designed the Ability Hand™ to be lightweight, lightning fast, intuitive, and strong, while also featuring what we believe is the first multi-touch sensing technology of its kind. Using dynamic fingertip sensors, the hand detects pressure and uses vibration to communicate sensation, so that users can actually feel what they are touching and work with even the most delicate objects.
THE Market & Our traction
From Mobility to The Metaverse
Since launching in September 2021, PSYONIC has made some incredible strides. We raised a $3.1 million round on StartEngine, received a $1 million grant from the National Science Foundation for Small Business Innovation Research (source), and earned positive press from a number of major news organizations. We were even earned a $1 million offer from three sharks on Shark Tank and were deemed “The World’s Most Badass Prosthetic Arm” by Popular Mechanics in April 2022 (source).
The Ability Hand™ has users throughout the United States, and the number of orders we receive grows every year. Besides the prosthetics industry, we believe there is demand for our products in the robotics and tech market. Clients include Meta and Apptronik, as well as some of the world’s largest manufacturing, automotive, and brain-computer interface companies. Our goal is to scale to meet these opportunities, while also continuing to advance the field of bionics.
Two of the Top 5 teams in 2023’s ANA Avatar XPRIZE, a $10 million global competition to develop a physical robotic avatar system, used PSYONIC Ability Hands. And the market for such humanoid robots is expected to grow to at least $35 billion by 2035, according to Goldman Sachs. (Source)
why invest
Invest in Technology that Touches Lives
From its inception, PSYONIC was founded with a mission of redefining what it means to be human, and we believe that the Ability Hand™ is just the beginning. In the near future, by working closely with universities and military hospitals, our vision is to expand to include other prosthetic limbs and seamless integration with the human neuromuscular system.
The market for our technology is continuing to grow rapidly. We are looking for investors who, like us, believe that everyone should have access to the most advanced prosthetic technology at an affordable price. And for investors who want to get in on the humanoid robotics market. Join our bionic revolution by investing with PSYONIC.
ABOUT
HEADQUARTERS
9999 Businesspark Ave, Suite B
San Diego , CA 92131
WEBSITE
View Site
TERMS
PSYONIC
Overview
PRICE PER SHARE
$2.43
DEADLINE
Apr. 30, 2024 at 6:59 AM UTC
VALUATION
$65.07M
FUNDING GOAL
$10K - $2.74M
Breakdown
MIN INVESTMENT
$294.03
MAX INVESTMENT
$1,234,998.90
MIN NUMBER OF SHARES OFFERED
4,115
MAX NUMBER OF SHARES OFFERED
1,127,625
OFFERING TYPE
Equity
SHARES OFFERED
Class B Common Non-Voting
Maximum Number of Shares Offered subject to adjustment for bonus shares
*Maximum number of shares offered subject to adjustment for bonus shares. See Bonus info below.
Investment Incentives & Bonuses*
Loyalty Bonus | 5% Bonus Shares
As you are an existing investor in PSYONIC, Inc., you are eligible for additional bonus shares.
Time-Based Perk
Super Early Bird
Invest within the first two weeks and receive 5% bonus shares.
Amount-Based Perks
Tier 1
Invest $1,000+ and Receive 2% bonus shares.
Tier 2
Invest $2,500+ and Receive 3% bonus shares.
Tier 3
Invest $5,000+ and Receive 5% bonus shares.
Tier 4
Invest $10,000+ and Receive 10% bonus shares.
Tier 5
Invest $25,000+ and Receive 20% bonus shares.
*In order to receive perks from an investment, one must submit a single investment in the same offering that meets the minimum perk requirement. Bonus shares from perks will not be granted if an investor submits multiple investments that, when combined, meet the perk requirement. All perks occur when the offering is completed.
Crowdfunding investments made through a self-directed IRA cannot receive non-bonus share perks due to tax laws. The Internal Revenue Service (IRS) prohibits self-dealing transactions in which the investor receives an immediate, personal financial gain on investments owned by their retirement account. As a result, an investor must refuse those non-bonus share perks because they would be receiving a benefit from their IRA account.
The 10% StartEngine Owners' Bonus
PSYONIC will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.
This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 110 shares of Class B Common Voting Stock at $2.43 / share, you will receive 110 shares of Class B Common Voting Stock, meaning you'll own 110 shares for $243. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid during the investors' eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are canceled or fail.
Investors will receive the highest single bonus they are eligible for among the bonuses based on the amount invested and time of offering elapsed (if any). Eligible investors will also receive the Owner’s Bonus and Loyalty Bonus in addition to the aforementioned bonus.
ALL UPDATES
04.30.24
Let's Make It to $1 Million
PSYONIC appeared on Fox 5 New York just a couple of hours ago. You can watch the story now!
We're less than $40,000 of hitting $1 million in our current StartEngine raise -- with five hours left on the clock before we close. Every dollar means more manufacturing capacity for the Ability Hand and big opportunities in the $3 billion bionic limb market and the $38 billion humanoid robotics industry.
We raised more than $150,000 in the last 24 hours and couldn't do any of this without your tremendous confidence in us. Thank you!
Check out this weekend's open house at PSYONIC HQ in the video below!
04.29.24
12 Hours Left
The clock is ticking. Loudly! You only have 12 hours left to join our bionic revolution.
Ready to invest in a bionic hand that is changing the lives of people with limb differences across the United States? Ready to invest in a company that's at the forefront of humanoid robotics and brain-machine interface research? Ready to invest in a team that grew sales revenue by 2.5x year over year in Q1 of 2024?
That's PSYONIC. This is your chance.
04.28.24
Behind the Scenes
Earlier in the month, we shared a video of Anni showcasing the most amazing things an Ability Hand user can do -- with some practice and patience. She flipped a pancake, hit the gym, and made dinner with friends. Now it's time for the commentary. What was hard? What was surprising? What was she doing for the very first time? Find out below!
Less than three days to invest! Join our bionic revolution today.
04.27.24
Highest Quarterly Sales Ever!
Exciting news in the 48 hours of our raise! Q1 of 2024 was our biggest quarter ever. Sales revenue topped $611,000. That's a more than 15 percent increase over the last quarter of 2023. And 2.5x increase year over year.
We're honored that you've joined our bionic revolution. And we are EXCITED about the future. Here's why:
- Some of the biggest manufacturing, robotics, and logistics companies in the world bought Ability Hands in 2023, moving us firmly into the $38 billion humanoid robotics industry. We can’t name them all because we’re under NDA with some of them, but they include Apptronik, Figure AI, and Hexagon.
- A giant brain-machine interface company is working with the Ability Hand. So are brain-machine interface researchers at universities throughout the United States.
- We are hard at work on what would be the largest federal grant we’ve ever received, which would drive bionic technology for years to come.
And, never forget, our users are why we do what we do. They're excited too. Here are a few reasons:
- With sensors in the fingertips, users can feel what they're doing with the Ability Hand and use it with even the most delicate objects.
- The Ability Hand is tough, water-resistant, and each finger can handle blunt force impact without breaking.
- The Ability Hand charges using USB-C in about an hour. A charge lasts all day.
- Users can connect their hand to our iOS and Android mobile apps, so their prosthetist can fine-tune their Ability Hand and make constant improvements to its grips and functionality.
- We’re the first company building bionic hands in the United States, which means we offer quick service when users need a hand with their hand.
04.25.24
$740,000 Raised!
Be sure to register for our webinar on Friday, April 26, at 1p eastern/10a pacific.
We've raised more than $740,000 since we reopened our raise on StartEngine. That's in addition to $3.1 million in our initial round. Less than one week left in this raise. Bonus shares still available for investments over $1,000 and for people who invested in the first round. Now's the time.
04.23.24
Take the Tour
We know most of you can't make it to the open house at our San Diego HQ this weekend. But don't worry. We have a couple of great alternatives.
First, sign up for tomorrow's live webinar with Aadeel and Anni. You'll get an overview of the company and the Ability Hand, the role it plays in users' lives, the company's plans for the future, and the opportunity to invest via StartEngine. Registration is required. But it only takes a second.
Second, you can watch a tour of our HQ -- including our collaborations with the Hacksmith that netted us more than 6.2 MILLION VIEWS ON YOUTUBE! Videos below!
04.21.24
Webinar on Friday, April 26
In the San Diego area? Saturday, April 27, we will be hosting an open house. You'll be able to tour our facility and meet our team! Our doors will be open from 12p to 4p. Register here.
Can't hop a plane on a week's notice? No problem! Join us online for a webinar. It will be on Friday, April 26, at 1p eastern/10a pacific. You'll meet PSYONIC's CEO Aadeel Akhtar and user Annika Berlin, get an overview of the company's future and what it's like to use the Ability Hand, and learn more about investing via StartEngine. Registration is required, so grab your spot on Zoom now.
04.19.24
Great User Experiences
Less than two weeks left to invest. Join our bionic revolution today!
We've shown you lots of videos of Anni -- a PSYONIC team member and an Ability Hand user -- doing all kinds of fun stuff. She's been paragliding, hit the driving range, and gone to the beach in recent clips. But, really, Anni's job is all about helping other Ability Hand users as they learn to use their Ability Hand. So we want to take you behind the scenes for a minute and show you some of the other projects she works on -- like the videos below.
They show users and prospective users the grips and techniques they might need to do things like push a grocery cart, chop vegetables, or do laundry. These everyday tasks we tackle, known as activities of daily living in occupational therapy circles, are crucial for ensuring that Ability Hand users develop confidence and independence in managing their day-to-day routines and get what they need out of their bionic hand.
04.16.24
Check Out PSYONIC on CNBC's "Make It"
CNBC recently covered our Shark Tank appearance -- and the $1 million offer from three sharks. Get the recap of our "absolutely fantastic presentation" and our previous $3.1 million StartEngine raise on CNBC's "Make It."
04.15.24
$550,000 Raised!
We've raised more than $550,000 since we launched our new raise on StartEngine. And we need about $50,000 in the next 48 hours to earn an email that will go out to all StartEngine users. Those email have routinely earned us $100,000 in new investments -- and one of them earned us more than $250,000! So you could have huge impact right now.
If you've been considering grabbing your piece of PSYONIC, it's a great time to act!
REWARDS
10%
Stack Venture Club & Rewards!
Members get an extra 10% shares in addition to rewards below!
Venture Club
Venture Club Members earn 10% bonus shares on top of this and all eligible investments for an entire year. Not a member? Sign up at checkout ($275/year).
$1,000
Tier 1
Invest $1,000+ and Receive 2% bonus shares.
$2,500
Tier 2
Invest $2,500+ and Receive 3% bonus shares.
$5,000
Tier 3
Invest $5,000+ and Receive 5% bonus shares.
$10,000
Tier 4
Invest $10,000+ and Receive 10% bonus shares.
$25,000
Tier 5
Invest $25,000+ and Receive 20% bonus shares.
JOIN THE DISCUSSION
0/2500
Peter Essex
a year ago
When will the next funding round open?
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Safi Khan
a year ago
Hello Aadeel and team, My family and I were very excited to attend the open house on Saturday! What you guys are doing is truly inspiring and life changing! I wish you the best of luck in your investment round!
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Lemmiux Sabaris
a year ago
I'm genuinely excited about the vision and potential of PSYONIC as a company. Could you provide some insights into when investors might expect a return on their investment?
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Mario Santoyo
a year ago
hi PSY tam. I'm thrilled to be part of the PSYONIC journey through my investment! Your dedication to advancing prosthetic technology not only showcases incredible innovation but also a deep commitment to enhancing the quality of life for amputees. The blend of cutting-edge technology with accessibility is truly commendable. I believe what you are doing is not just revolutionary but also vital. Keep up the fantastic work – I'm eager to see how your projects evolve and impact lives around the world!
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Scott Kennedy
a year ago
Have a friend (a mechanic) who recently (March 2024) lost his left hand mid-forearm. As a previous investor in Psyonic, is it possible to discuss when he's ready to test out the hand?
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Grigore Hreniuc
a year ago
What's the reason the three sharks did not finalize the deal?
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Somers Randolph
a year ago
Will it be possible to apply your limb to someone with ALS?
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Latoya Freeman
a year ago
What's the difference between your product and Atom Limbs (https://wefunder.com/atomlimbs)? Is this a direct competitor. If so, how is your product better. If not, how do you see the two companies coexisting in the same market?
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Adam Forster
a year ago
Hello! Can you please speak to the need to raise cash? Is this for continued production development of the Psyonic Hand, new Psyonic products, hiring of new sales staff, or other? Can you provide more detailed information on Psyonic unit sales in 2023 and expectations for 2024? Are there expectations for Psyonic to be cash flow positive any time soon (next two or three years) or is this a longer journey regarding ramping up sales and/or further product development? I regret not participating in the last SE round and would like to participate in this one. Congratulations on successes so far.
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HOW INVESTING WORKS
Cancel anytime before 48 hours before a rolling close or the offering end date.
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FAQS
With Regulation A+, a non-accredited investor can only invest a maximum of 10% of their annual income or 10% of their net worth per year, whichever is greater. There are no restrictions for accredited investors.
With Regulation Crowdfunding, non-accredited investors with an annual income or net worth less than $124,000 are limited to invest a maximum of 5% of the greater of those two amounts. For those with an annual income and net worth greater than $124,000, they are limited to investing 10% of the greater of the two amounts.
At the close of an offering, all investors whose funds have “cleared” by this time will be included in the disbursement. At this time, each investor will receive an email from StartEngine with their Countersigned Subscription Agreement, which will serve as their proof of purchase moving forward.
Please keep in mind that a company can conduct a series of “closes” or withdrawals of funds throughout the duration of the campaign. If you are included in that withdrawal period, you will be emailed your countersigned subscription agreement and proof of purchase immediately following that withdrawal.
StartEngine assists companies in raising capital, and once the offering is closed, we are no longer involved with whether the company chooses to list shares on a secondary market or what occurs thereafter. Therefore, StartEngine has no control or insight into your investment after the close of the live offering. In addition, we are not permitted to provide financial advice. You may want to contact a financial professional to discuss possible investment outcomes.
For Regulation Crowdfunding, investors are able to cancel their investment at any point throughout the campaign up until 48 hours before the closing of the offering. Note: If the company does a rolling close, they will post an update to their current investors, giving them the opportunity to cancel during this timeframe. If you do not cancel within this 5-day timeframe, your funds will be invested in the company, and you will no longer be able to cancel the investment. If your funds show as ‘Invested’ on your account dashboard, your investment can no longer be canceled.
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Once your investment is canceled, there is a 10-day clearing period (from the date your investment was submitted). After your funds have cleared the bank, you will receive your refund within 10 business days.
Refunds that are made through ACH payments can take up to 10 business days to clear. Unfortunately, we are at the mercy of the bank, but we will do everything we can to get you your refund as soon as possible. However, every investment needs to go through the clearing process in order to be sent back to the account associated with the investment.
Both Title III (Regulation Crowdfunding) and Title IV (Reg A+) help entrepreneurs crowdfund capital investments from unaccredited and accredited investors. The differences between these regulations are related to the investor limitations, the differing amounts of money companies are permitted to raise, and differing disclosure and filing requirements. To learn more about Regulation Crowdfunding, click here, and for Regulation A+, click here.
Peter Essex
a year ago
Thanks Aadeel Am interested in investing when you open up again. Sorry I missed the deadline. Pete
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