Atom Limbs1

The world’s first mind-controlled bionic arm

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Security Type
CAFES
Categories
Technology, Healthcare & Medical, Life Sciences, Retail, Financial Services
Min Investment
$250
Location
Palo Alto, CA
Offering Date
September 18, 2020
Expected Close Date
April 29, 2024
Target Raise
$50.00K-$5.00M
No. Investors
1
Security Price
$1
Website
atomlimbs.com
Number of Employees
10
Cash
$1,611,770
Revenue
$0
Short Term Debt
$337,701
Cost of Goods
$0
Long Term Debt
$167,671
Net Income
$-3,718,607

Company Description

Atom Limbs is creating the world's first mind-controlled and most advanced bionic arm. To start, we're selling it to amputees and people who suffered limb loss.

We're in conversation with several non-med robotic organizations too — from agriculture, deep sea, hazardous environments, factory ad hoc assembly, and more.

We are currently moving from the clinical stage to the commercial stage, aiming to ship to the market in 2022. In 5 years, we hope to have sold 1,000 of our initial Atom Touch arms ($100K-$300K each). We hope to be moving to the Atom Touch V2 at a lower price point ($30K-$50K). We want to emphasize that the Atom Touch arm is poised for both medical and non-medical markets. These future projections cannot be guaranteed.Given the Company’s limited operating history, the Company cannot reliably estimate how much revenue it will receive in the future, if any.

Perks

Invest $5,000+ for Atom Limbs softshell jacket with embroidered logo.
$10,000+ Full-day visit to Atom Limbs HQ and factory. Play with the arm. Lunch with the team.
$500,000+ 'Atom Touch, Signature Series' arm, hand-delivered by CEO Tyler Hayes, personalized with your own nameplate, signed by the team.
Invest $5,000+ for Atom Limbs softshell jacket with embroidered logo.
$10,000+ Full-day visit to Atom Limbs HQ and factory. Play with the arm. Lunch with the team.
$500,000+ 'Atom Touch, Signature Series' arm, hand-delivered by CEO Tyler Hayes, personalized with your own nameplate, signed by the team.

Key Deal Facts

AI-powered mind control. Restores sense of touch. Full finger dexterity. 200 sensors. Curls 45lbs.
CEO prev. cofounder of Bebo (acq. by Amazon). Team: Johns Hopkins, Apple, IDEO, Intel, NASA.
$120M grant from Dept of Defense & DARPA used for R&D last 15 years.
100+ member waitlist. Trialed by 20 amputees, quadriplegics, military, teleoperations.
Backed by VILLAGE Global whose LPs include Bill Gates, Reid Hoffman, Jeff Bezos.
Founding team incl. original designers & engineers of iMac, Da Vinci Surgical Robot, NASA Simulink

Use of Proceeds

$250,000

  • 15% toward tech infrastructure costs
  • 5% toward equipment
  • 50% toward team/hiring
  • 5% toward travel/conferences
  • 19% toward legal/operating costs
  • 6% towards Wefunder intermediary fees

$1,070,000

  • 15% toward tech infrastructure costs (ship v1 production architecture)
  • 5% toward equipment
  • 50% toward team/hiring (hire 3 additional product & signal engineers)
  • 5% toward travel/conferences
  • 10% towards begin FDA pre-submission
  • 9% toward legal/operating costs
  • 6% towards Wefunder intermediary fee begin FDA pre-submission

Management Team / Advisory Board Bios

Tyler Hayes
CEO
Previously co-founder of Bebo (acquired by Amazon). Neuroscience at St. Olaf.

Doug Satzger
CDO
30+ years leading Industrial Design at Apple, IDEO, Intel, and Palm.

Joe Moak
CTO
20 years leading engineering at NeuroPace, St. Jude Medical, Seismic, Apple.

Mark Salada
CRO
20+ years robotics & haptics at Intuitive Surgical, NASA projects at Johns Hopkins APL, and Apple.

Bobby Armiger
Team Lead at JHU APL
Team lead on prototype. Biomedical Engineer and Principal Staff at Johns Hopkins APL.
Amount Raised : $2,318,985
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Security Description

A CAFES (Contract and Future Equity Stake) can convert into different types of equity upon a Triggering Event, such as: common or preferred stock for a corporation, limited partnership interest for a limited partnership and membership interest for a limited liability company. At the time of the Triggering Event, the specific rights and limitations associated with the equity stake being issued to the investors will be determined and disclosed by the Entrepreneur.

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