Sapientx (1)

A.I. software that gives a voice and intelligence to products.

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Security Type
Preferred Stock
Categories
Technology, Financial Services
Min Investment
$100
Location
SANTA CRUZ, CA
Offering Date
June 10, 2020
Expected Close Date
November 28, 2022
Target Raise
$10.00K-$4.18M
No. Investors
96
Security Price
$0.65
Deal Notes

$0.64184 per share 

$25K+ pro rata right threshold 

Valuation
$7,000,000
Website
sapientx.com
Number of Employees
3
Cash
$5,445
Revenue
$38,998
Short Term Debt
$297,198
Cost of Goods
$0
Long Term Debt
$0
Net Income
$567,670

Company Description

Our software adds a voice and intelligence to other peoples products.

Perks

$250+ Beta access to our Zia languages demonstrator for Android.
$500+ The prior level plus an official SapientX team shirt.
$1,000+ The prior levels plus the SapientX Etsy crafted leather key fob.
$10,000+ The prior levels plus an invitation to come meet team members for dinner at Flipjack Ranch in the Santa Cruz Mountains!

Key Deal Facts

The highest conversational understanding accuracy at up to 99%. (Siri = 75% and Alexa = 73% - ZDnet).
The software is complete and in pre-production development with Volvo, Mitsubishi, Yamaha, Samsung and KTM.
We track 23 peers 16 of which have exited in the last 4 years. On average, they returned about 17X to their investors.
An early version of our tech was used in Outfit 7's Talking Angela app (a virtual pet) leading to their $1 billion exit.
We can run with or without the Internet. Since we can run offline, we can keep user data local where it's safest.
Our software is fast and efficient using just 2% of the CPU on your phone and taking as little as 17 MB of disk space.
A.I. (Artificial Intelligence) companies typically yield twice the return for their investors over other tech startups.
Our assistants speak 40 languages and dialects

Use of Proceeds

If $50,001 is raised:

65% towards sales, marketing and customer integration engineering, 27.5% towards patents (to be owned by the Company) completion and 7.5% towards Wefunder fees.

If $535,000 is raised:

In addition to covering fixed expenses and extending runway, hitting out maximum target will allow us to do additional prototyping with our customers.85% towards sales, marketing and customer integration engineering, 7.5% towards patents (to be owned by the Company) completion and 7.5% towards Wefunder fees.

Management Team / Advisory Board Bios

David Colleen
Founder, CEO, Chairman of the Board
David is an AI and VR entrepreneur and led his teams to launch the first VR on the Internet. He has worked with 17 Fortune 100 companies to build cutting edge software products.

Maclen Marvit
Founder, CTO
Maclen is an actual rocket scientist having worked at NASA and Blue Origin. He lives to lead talented engineers to build world beating products.

Bruce Wilcox
Founder
Bruce has 40 years of experience in AI engineering and has won the Loebner Prize 4 times for the best conversational AI. Past companies include Amazon and Fujitsu.

David Apgar
Interim CFO
David is an ex-McKinsey person and he managed two small-business funds, wrote the book "Risk Intelligence" about how to accelerate strategic learning and these days, he enjoys helping startups.

Patti
Board Member
Patti is an investment banker and founder of Polygon Capital. She has experience in funding and M&A and brings an important viewpoint to our decision making. She has worked with David C. for 12 years.

Robert
Board Member
Robert is the ex-CEO of LSI Logic and he was also at Maserati. He's a car buff and brings that enthusiasm to our management meetings. He's our newcomer, having only worked with David C. for 2 years.

Mike
Advisor
Mike is the ex-CEO of Mayfield Robotics and before that SRI and Matterport. He's an excellent engineer and strategist. He has worked with David C. for 8 years.

Dave
Advisor
Dave is the former head of Business Development for Google Earth. Today, he co-manages the Augmented World Expo and he helps startups in the AR, VR and XR space. He has worked with David C. for 20 years.

Deal Notes

$0.64184 per share 

$25K+ pro rata right threshold 

Amount Raised : $83,444
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Security Description

Preferred securities are a type of investment that generally offers some sort of preferred treatment through a dividend or preferred treatment in a liquidation.

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