Michael Ricci · Tue, 07/27/2010 - 12:19
Business
Business Overview:
The object will be to enter the high performance electric motor industry with a product that has superior performance/specifications to any other existing product.
Project Type:
Industry:
Project Website:
http://www.launchpnt.com/capabilities/electric-motor-design.html What are your future milestones, and how much capital will you need to achieve each of the milestones outlined?:
Finish testing initial lab prototype and design a new "pre-production" prototype. $500,000
Develop motor controller electronics to optimize weight advantage of the motor. %500,000
What is your total and operating cash burn (the amount you're spending) per month? :
$2000
How many future rounds of financing do you project? :
2 rounds. First round will get pre-production prototypes of the entire system (motor and controller) working; and will make it possible for low volume production of systems for potential customers to purchase for evaluation and testing. The second round will finance tooling up for volume production for orders generated from customer evaluation of prototypes.
Services Desired:
Technology Consultant
Legal-Intellectual Property
Manufacturer
Supply Chain/Distribution
Who is the Customer?:
Initial customers will be large(r) aerospace companies building electric or hybrid aircraft.
What is the Customer Pain that you are solving?:
Presently electric/hybrid aircraft have limited range. Reducing the weight of the propulsion system in electric/hybrid aircraft will increase efficiency and range of these vehicles.
What is the Target Market?:
Electric/Hyrbid Unmanned Aerial Vehicles (UAVs)
Business Model:
Develop and manufacture pre-production prototypes in house. Volume production will be handled by a contract manufacturer while Launchpoint Technologies handles sales, marketing, distribution, and support.
Technology
Team
| Name | Title |
|---|---|
| Brad Paden | CEO |
| Michael Ricci | VP |
Current Investors:
DARPA
Financials
Amount Sought:
$1,000,000 If raising funds, what shall the funds be used for?:
Productization of prototype built with government grant funds. Marketing, sales, and business development.
Pre-Money Valuation:
$2,000,000
Funding Received to Date:
$100,000
Amount invested by Founders:
$30,000
Funding Stage:
Early/Seed Funding History:
| Funding Round | Funding Type | Funding date | Funding Source/ Investors | Amount | Pre-Money valuation |
|---|---|---|---|---|---|
| Seed/Bootstrap | Grant | Jul 2009 | DARPA | 100 | 0 |
| Friends & Family | 0 | 0 |
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