-
Security Type
-
CAFES
-
Categories
-
Technology, Social Impact, Retail, Healthcare & Medical, Transportation & Storage
-
Min Investment
-
$250
-
Expected Close Date
-
April 30, 2023
-
Target Raise
-
$50.00K-$1.07M
-
No. Investors
-
116
-
Security Price
-
$1
- Number of Employees
- 4
- Cash
- $110,447
- Revenue
- $0
- Short Term Debt
- $120,671
- Cost of Goods
- $0
- Long Term Debt
- $0
- Net Income
- $-97,224
Company Description
We believe everyone with reduced mobility should have access to safe, advanced, and affordable assistive technology. Thatβs why we developed the ABBY smart wheelchair as a long-overdue expansion play aiming to make power chairs accessible to millions whose needs are unmet under the status quo. ABBY by GOGOTECH Inc. is pre-revenue and, while our DTC business model is gearing up for production and PEV sales, our B2B business model awaits FDA 510(k) clearance to start medical device distribution.*
Key Deal Facts
β Techstars '21 & XTC '22 Global Finalist
π Dozens of pre-order deposits & over 1000 subscribers on waitlist - HELP US DELIVER!
𦽠Production Ready
π Patented Technology
π¦Ύ ABBY is a companion & 150kg capacity household robot, not just a wheelchair
π Powered Mobility Devices are a $4B market growing 15%+ annually
Management Team / Advisory Board Bios
John Debenedette CEOExperienced founder and wheelchair user since 1985. ABBY is my third startup and the second aiming to disrupt a huge but deeply flawed industry. We are a lean but uniquely qualified team with a shared passion to help create a more inclusive society, Dr. Clarence Tan Chief Impact OfficerIf you believe as we do that powered mobility can't remain a privilege for only the wealthy and the well-insured, please support our campaign!, Wei Wen Jing Engineering20+ years in product industrial design, engineering, and production including self-balancing and unicycle rideable EVs + Master design engineer with deep experience in motor control, embedded systems, product design and production engineering, Prawwaree Paonil MarketingSeveral years with Group-M digital agency working on global brand accounts (Amway, Nestle, Volvo Cars) + several years creative, digital art, game design and UX&UI
Reveal the Score by Voting
οΌΏ
Additional ratings from other users are needed to determine a viable CrowdScore for this deal.
The "CrowdScore" for this deal is determined by user ratings and other factors using our proprietary algorithm.
β
The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
β
The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
β
The experience of the management team in running, scaling and/or exiting a business that required similar skills to execute the business plan.
Management Team
β
The value of the company compared to similar companies raising money from investors.
Valuation
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.