Foldimate
Regulation Crowdfunding offering on SeedInvest (SI Securities)
$691,380
of $1.07M goal
64.6% funded
About the offering
FoldiMate is changing the way we do laundry - putting robotics to work to simplify and automate everyday tasks. Starting with one of the hardest engineering challenges, and most unloved chore - LAUNDRY FOLDING. Problem - There is no viable* automated solution to the tedious, time-consuming task of laundry folding, for millions of consumers and businesses alike. We estimate that around 500M items are being folded by hand, each day, in the US alone. On average, a US family spends 2 hours/week** doing laundry, and we can assume that most of the time is spent folding as this is the most time-consuming part of the laundry cycle. Solution - FoldiMate has developed a robotic technology that automates laundry folding for home and business use. It allows anyone to quickly and easily fold clothes and towels of many sizes into neat piles, ready to put away - See the video at the top of the page. We’re a #PracticalRobotics team with 20 years of multidisciplinary experience. By taking advantage of robotic advancements in recent years, and keeping our focus on innovative practical solutions, we believe now is the ideal time to automate chores and tasks which haven’t been addressed for a very long time.
FAQ
How much has Foldimate raised?
Foldimate has raised $691,380 of a $1.07M goal.
Where is Foldimate's campaign listed?
The offering is listed on SeedInvest (SI Securities), an SEC-registered Reg CF intermediary.
What are the terms of Foldimate's raise?
Crowd Note, $35M cap, 10% discount, 5% interest, 24-month term.
When does Foldimate's offering close?
The stated close date is Aug 23, 2019.
