-
Security Type
-
Common Stock
-
Categories
-
Sports & Fitness
-
Min Investment
-
$250
-
Offering Date
-
November 23, 2021
-
Expected Close Date
-
March 23, 2022
-
Target Raise
-
$10.00K-$1.07M
-
No. Investors
-
218
-
Security Price
-
$1
-
Valuation
-
$10,000,000
- Number of Employees
- 10
- Cash
- $95,558
- Revenue
- $93,848
- Short Term Debt
- $11,145
- Cost of Goods
- $33,430
- Long Term Debt
- $0
- Net Income
- $-108,663
Company Description
We are a robotics company that is positioned to disrupt the marine industry, starting with sailboat racing and poised to move into other aquatic use applications. Our robotic buoys are self-propelled and use GPS technology to zero in on a specific location and anchorlessly hold position until instructed to move. With a user-friendly mobile app, easy assembly, and effortless routing and repositioning, we believe we are transforming the way sailboat races are run. The sailing industry is our immediate focus and there’s a compelling market for our product. Looking forward, our patented technology – the ability to deploy, operate, and monitor fleets of aquatic drones – has applications in many other verticals and we’re primed to license to these industries.
Key Deal Facts
MarkSetBot robotic buoys are used around the world for sailing races. It’s an environmentally friendlier, cost-effective, simple-to-use and precise alternative to traditional buoys.
In sailboat racing, boats sail courses that are marked by buoys, traditionally hand-set by groups of staff and volunteers in fleets of power boats.
Before MarkSetBot, it required an inordinate amount of manpower and resources. Our technology provides a simple, more eco-friendly solution while also reducing the personnel involved and takes fossil fuels out of the equation.
With our user-friendly mobile app, simple set-up and ease of use, we have found that MarkSetBot improves the quality of racing, cuts down on volunteers, saves money, lightens sailing’s impact on the environment, and makes it easier to run great races.
Management Team / Advisory Board Bios
Kevin Morin
CEO & Chairman of the Board
Kevin is the founder and designer of the MarkSetBot. He built the first prototype in 2014 and now spends his time working on the latest and greatest developments while leading our team. Kevin has more than 20 years of experience leading successful software development teams. He has founded and managed four successful businesses alongside his brother, Matt. Kevin is an avid sailor and especially enjoys racing his Lightning “313”.
Matthew Morin
Treasurer, Secretary, and Director of External Affairs
Matt is the co-founder of MarkSetBot. Together with Kevin, Matt has founded and led four successful businesses, including MarkSetBot; Macro Connect, an IT managed service provider; Hunt Street Station, a coworking space in a 120 year old police station; and Fountain Bistro, a fine dining restaurant that was sold at nearly 20X the initial investment. As a lifelong sailor and entrepreneur, he provides strategic direction and mentorship for the organization.
Matt's primary occupation is being the CEO of Macro Connect. He works 10-20 hours per week for MarkSetBot.