allocortech

Hardware and Software Building Blocks for Next-Gen Vehicle Designs

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Security Type
Convertible Note
Categories
Hardware, Software, Technology, Design, Engineering, Robotics, Sustainability, Electric Vehicle, Transportation, Aerospace, Manufacturing Engineering
Min Investment
$100
Location
Waynesboro, VA
Expected Close Date
April 30, 2023
Target Raise
$50.00K-$1.07M
No. Investors
225
Security Price
$1
Website
allocor.tech
Number of Employees
10
Cash
$89,084
Revenue
$1,639,030
Short Term Debt
$80,614
Cost of Goods
$0
Long Term Debt
$0
Net Income
$66,437

Company Description

πŸ’Έ $1.54MM revenue 2021, 21% overall YoY growth, 55% growth in product sales
πŸ’Έ $5MM revenue since 2018, 200+ product units sold
πŸ’« 10+ Vehicles Successfully Tested
πŸ’ͺ Seasoned team formerly from Boeing, Google, Rockwell Collins, Lockheed Martin, & more
πŸ’₯ We combine innovative products, powerful libraries and tools & design services
πŸ“ˆ Commercial drone market $15B alone, CAGR 20.5%, other markets have interest
Eligible for Qualified Equity and Subordinated Debt tax credit for investors with VA income tax.

Key Deal Facts

πŸ’Έ $1.54MM revenue 2021, 21% overall YoY growth, 55% growth in product sales
πŸ’Έ $5MM revenue since 2018, 200+ product units sold
πŸ’« 10+ Vehicles Successfully Tested
πŸ’ͺ Seasoned team formerly from Boeing, Google, Rockwell Collins, Lockheed Martin, & more
πŸ’₯ We combine innovative products, powerful libraries and tools & design services
πŸ“ˆ Commercial drone market $15B alone, CAGR 20.5%, other markets have interest
Eligible for Qualified Equity and Subordinated Debt tax credit for investors with VA income tax.

Management Team / Advisory Board Bios

Brian Viele Founder + President20 years in electronics, particularly embedded systems and avionics with a very targeted scope. BS in Electrical Engineering from Cornell., Matthew Walker Founder + Vice PresidentExperienced Software Engineer with a demonstrated history of working in the aviation and aerospace industry. Skilled in writing embedded, real time, and safety critical software in C and C++.
Amount Raised : $456,434
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Security Description

A convertible security is a security that can be converted into another security, typically equity in the next round of financing.

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