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FoldiMate

Robotic laundry folder for home and business use

FoldiMate is offering securities under both Regulation D and Regulation CF through SI Securities, LLC ("SI Securities"). SI Securities is an affiliate of SeedInvest Technology, LLC, a registered broker-dealer, and member FINRA/SIPC. SI Securities will receive cash compensation equal to 7.00% of the value of the securities sold and equity compensation equal to 5.00% of the number of securities sold. Investments made under both Regulation D and Regulation CF involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest. Furthermore, the contents of the Highlights, Term Sheet sections have been prepared by SI Securities and shall be deemed broker-dealer communications subject to FINRA Rule 2210 (the “Excluded Sections”). With the exception of the Excluded Sections noted above, this profile contains offering materials prepared solely by FoldiMate without the assistance of SI Securities, and not subject to FINRA Rule 2210 (the “Issuer Profile”). The Issuer Profile may contain forward-looking statements and information relating to, among other things, the company, its business plan and strategy, and its industry. Investors should review the risks and disclosures in the offering's draft. The contents of this profile are meant to be a summary of the information found in the company’s Form C. Before making an investment decision, investors should review the company’s Form C for a complete description of its business and offering information, a copy of which may be found both here and below.


Company Highlights

  • Since June 2016, 345,000 potential customers and 250 businesses worldwide have joined the pre-order waitlist.
  • Within 18 months, over 12,500 potential customers paid a deposit to be the first to own a FoldiMate in their region.
  • IP portfolio includes robotic folding algorithms and patents in various stages (2 granted, 10 filed, 12 drafted). Patents cover automated folding methods, mechanisms, and design.
  • Previously raised $8.3M from BSH Home Appliances Group, which is known for its brands Bosch and Siemens.
  • Latest fully-working prototype completed a 3-week testing program to offer laundry folding services to 28 families.

Fundraise Highlights

  • Total Amount Raised: US $644,480
  • Total Round Size: US $3,000,000
  • Raise Description:  Bridge
  • Minimum Investment:  US $1,000 per investor
  • Security Type:  Crowd Note
  • Valuation Cap:  US $35,000,000
  • Offering Type:   Side by Side Offering

“The best smart-home device we saw at CES 2019” - Business Insider (January 2019)


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.

* Existing alternatives are either extremely large and cumbersome (industrial use), limited in variety (can only fold specific items), or prohibitively expensive ($15K - $100K) - See Pitch Deck, slide #4.

** Based on the US Bureau of Labor Statistics

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.

Pitch Deck

Product & Service

Product Overview

FoldiMate is a robotic appliance that will quickly and easily fold laundry into neat piles, ready to put away.

The latest prototype concluded an early pilot program during January 2019 around Los Angeles, which resulted in positive feedback from dozens of consumers who test-drove the FoldiMate with their laundry (in homes and laundromats). Moreover, during April 2019, a 3-week pilot was successfully conducted, in which we offered a laundry folding service to 28 families, and folded thousands of different laundry items with the prototype.

Business Model

The target price for the FoldiMate is estimated at around $1,000. However, initial production volume will be low while we ramp up to a higher capacity production line, so these units could range between $1,500 - $2,000.

Sales will begin in the US. During the first few years, we plan to sell online via our website and Amazon. As production capacity ramps up, we will open additional regions and start working with retailers.

We plan to sell B2C as well as B2B with potential partners. Our focus is to reach homes first and then, together with potential partners, we’re planning a professional model for self-service use in laundromats and shared laundry rooms. This will enable consumers to enjoy the benefits of FoldiMate where they normally handle their laundry (coin/card/app operated).

Traction to Date

In early 2016, FoldiMate was accepted to Plug and Play’s accelerator program. Later that year, based on further research, we developed a faster and simpler model with a new core technology.

During 2017 and 2018, our robotic folding technology was further developed to a much more stable and mature solution that could potentially be used in the field. In parallel, we used our prototype to conduct extensive market research to better understand our potential customers' needs and learn from their feedback. 

Roadmap

Based on the test results, an upgraded, smaller dimension, prototype is being developed - estimated to be ready for production by the end of June 2019. Using the capital we raise from the Bridge round, we will produce and take the upgraded prototype into further field testing. These tests are a critical milestone to pass on the road to prepare for mass production and be ready for product launch - See Pitch Deck, slide #18.

Testimonials

Families who participated in January 2019 field tests:
“It folded everything for us. We have children of all ages, the two of us have different sizes…”
“We really like the overall size; the aesthetics is fantastic…”
“It looks very elegant, and garment folding is perfect. It has surpassed my expectations.”
“The product comes along great. I’m very excited about it. It works exactly how I thought it would - I’m impressed!”

Laundromat customers who participated in January 2019 field tests:
“I just tried out an amazing, fantastic folding machine, saved me a lot of time.”
“Saves me like an hour.”
“My husband will love it.”
“I did 25, 26 pieces of laundry in less than 5 minutes. I would take it home today if I could”
“It does it a lot neater than I can, I would definitely pay for it just to do all my pants and stuff…”

“I clipped in my Verge T-shirt to the machine, which pulled in the shirt and produced a neatly folded shirt in about five seconds.” Dami Lee, Verge Reporter, January 7, 2019.

“I tried everything from large long-sleeve button-down shirts to small short-sleeve shirts, and the result every time was a crisp, clean fold.”  Megan Wollerton, CNET Reporter, January 6, 2019.

“As a startup, FoldiMate has demonstrated innovative thinking and agile product development for laundry folding solutions.”  Carsten Stelzer, Head of Product Division Laundry Care at BSH Home Appliances Group.

Media Mentions

Team Story

In June 2016 FoldiMate’s first concept video went viral practically overnight. Gal then quickly approached two of his close friends - Debbie and Alon, to lead the marketing and R&D of FoldiMate as they both shared Gal’s enthusiasm and vision. After receiving funding from BSH Home Appliances Group, the team grew by reaching out to colleagues they have worked with in the past who share their vision and passion.

Gal’s longtime mentors: Don Norman - known for “The Design of Everyday Things” and former Apple VP of Advanced Technology, and Ronen Melnik - Managing partner of Wanaka Capital and former McKinsey & Co. Partner, assumed director roles on FoldiMate’s Board, later to be joined by Gali Beh (inventor of the HET method - Highly Effective Teams).

The team’s accomplishments and innovative achievements with FoldiMate have earned multiple awards over the years: CES 2017 & 2018 Innovation Awards Honoree, Business Insider Best of CES 2019, and the TIE50 2019 Award, among others.

Founders and Officers

Gal Rozov

Founder & CEO

Gal has over 20 years of hands-on experience with both technological and managerial leading positions in Software, Technology, Marketing, and Business. Gal has a broad multidisciplinary background in product development and product management where he led teams in small to large organizations as IAI (Israeli Aerospace Industries), Israeli Air Force and Aladdin among others.

Gal holds a BA in Business Management and an Engineering degree in Software Development.

Clothing item he hates folding most: "I'm not allowed to fold at home. That's why I founded FoldiMate. 😄"

Gal Rozov

Founder & CEO

Gal has over 20 years of hands-on experience with both technological and managerial leading positions in Software, Technology, Marketing, and Business. Gal has a broad multidisciplinary background in product development and product management where he led teams in small to large organizations as IAI (Israeli Aerospace Industries), Israeli Air Force and Aladdin among others.

Gal holds a BA in Business Management and an Engineering degree in Software Development.

Clothing item he hates folding most: "I'm not allowed to fold at home. That's why I founded FoldiMate. 😄"

Alon Naim

Head of R&D

Alon has a diverse background in mechanical engineering, over 20 years of experience in R&D, and nearly 15 years in R&D management positions. Managed R&D teams in Applied Materials, and Pythagoras Solar, developed projects for leading companies like GM, co-founded two start-ups and led their R&D.

Alon holds a B.Sc. & M.Sc. , Magna cum laude, in Mechanical Eng. from Tel-Aviv University.

Clothing item he hates folding most: "My wife’s shirts."

Alon Naim

Head of R&D

Alon has a diverse background in mechanical engineering, over 20 years of experience in R&D, and nearly 15 years in R&D management positions. Managed R&D teams in Applied Materials, and Pythagoras Solar, developed projects for leading companies like GM, co-founded two start-ups and led their R&D.

Alon holds a B.Sc. & M.Sc. , Magna cum laude, in Mechanical Eng. from Tel-Aviv University.

Clothing item he hates folding most: "My wife’s shirts."

Ori has over 20 years of experience in managing Operations, Customer Support, Supply Chain, Logistics, Production and Projects in a variety of high-tech and industrial companies, e.g., Stratasys, Orbotech, Pythagoras-Solar and more.

Ori holds a B.Sc. in Mechanical Eng. from the Technion and an MBA from Tel Aviv University.

Clothing item he hates folding most: "Long sleeve shirts. My kids fold their own laundry and are waiting for a FoldiMate!"

Ori Kaplan

COO

Ori has over 20 years of experience in managing Operations, Customer Support, Supply Chain, Logistics, Production and Projects in a variety of high-tech and industrial companies, e.g., Stratasys, Orbotech, Pythagoras-Solar and more.

Ori holds a B.Sc. in Mechanical Eng. from the Technion and an MBA from Tel Aviv University.

Clothing item he hates folding most: "Long sleeve shirts. My kids fold their own laundry and are waiting for a FoldiMate!"

Naor is an expert in motion control design, development, and system engineering with over 20 years’ experience leading and managing R&D teams. Founded and managed engineering companies, developed projects for leading companies as HP Indigo, Orbotech, Applied Materials, KLA Tencor, among others.

Naor holds a B.Sc. in Mechanical Eng. from Tel Aviv University.

Clothing item he hates folding most: "Towels."

Isaac Naor

CTO

Naor is an expert in motion control design, development, and system engineering with over 20 years’ experience leading and managing R&D teams. Founded and managed engineering companies, developed projects for leading companies as HP Indigo, Orbotech, Applied Materials, KLA Tencor, among others.

Naor holds a B.Sc. in Mechanical Eng. from Tel Aviv University.

Clothing item he hates folding most: "Towels."

Debbie has nearly 20 years of experience in product marketing and business development, managed teams at Aladdin and Clarizen and worked with multiple start-ups of various stages.

Clothing item she hates folding most: "My husband does the majority of folding at home. He hates folding buttoned-down shirts the most."

Debbie Cohen-Abravanel

CMO

Debbie has nearly 20 years of experience in product marketing and business development, managed teams at Aladdin and Clarizen and worked with multiple start-ups of various stages.

Clothing item she hates folding most: "My husband does the majority of folding at home. He hates folding buttoned-down shirts the most."

Sharona has over 18 years of experience in finance, from which 11 years as a Controller and CFO. Established and managed several finance teams supporting global activities for EY, Final, and other technology companies.

Sharona holds a B.A. from the College of Management and is a licensed CPA.

Clothing item she hates folding most: "Kids’ pajamas."

Sharona Miron

CFO

Sharona has over 18 years of experience in finance, from which 11 years as a Controller and CFO. Established and managed several finance teams supporting global activities for EY, Final, and other technology companies.

Sharona holds a B.A. from the College of Management and is a licensed CPA.

Clothing item she hates folding most: "Kids’ pajamas."

Key Team Members

Neil Gabay

Mechanical Engineer

Eldor Dornstein

Test Engineer

Bilal

Mechanical Engineer

Tal Naveh

Control Software engineer

Lyba Simiran

Software Engineer

Orit Ludvig

Bookeeper

Notable Advisors & Investors

Don Norman

Advisor, Director, Cofounder of Nielsen Norman Group. ex. Apple VP of Advanced Technology

Gali Beh

Advisor, Director, Inventor of HET (Highly Effective Teams)

Ronen Melink

Advisor, Director, Managing Partner of Wanaka Capital, former McKinsey & Company partner

Q&A with the Founder

  • What made you start FoldiMate in the first place?
    My wife and I share the chores between us, however, she never approved of my folding quality. I decided it was crazy that I couldn’t buy a product that would work in the same way as a dishwasher. All I needed was a machine where I could feed the items in and let the machine do the laborious part - the folding. I realized that only a robotic device could possibly cope with the challenge of folding so many different fabrics, shapes, and sizes of laundry items, and that’s where my journey starts.
  •  Are you focusing on Homes (B2C) or Businesses (B2B)?

    Our goal and focus is to service the largest market possible at first, which is clearly homes around the world. By making a few upgrades to the home model (e.g. support credit card and app payments), we are planning to introduce a “professional” model, which will allow self-service customers in shared laundry rooms and laundromats to enjoy the benefits of FoldiMate, by paying a few dollars to quickly fold their laundry. We received interest from distributors, potential partners, and potential customers for numerous other market verticals, which we will definitely explore as we progress with the business.

  • Have you participated in any accelerator programs? If so, please detail?
    In early 2016, FoldiMate was accepted to Plug and Play’s retail accelerator program (batch #5). Through the program we were introduced with BSH Home Appliances Group, who later became an investor.
  • Do you plan on developing other products?

    FoldiMate’s vision is to automate chores and tasks with practical robotics. Initially, we will focus on laundry. We plan to incorporate more capabilities on top of the core folding technology, such as wrinkle reduction, fabric treatment with consumables (e.g., fragrance or deodorizing), automatic item sorting, and automation of additional stages of the laundry cycle - See Pitch Deck, slide #7.

  • What kind of IP is associated with your company?
    FoldiMate’s intellectual property (IP) portfolio is comprised of: 

    1.  26 patents in various stages of filing and drafting (2 already granted) which cover automated folding methods, mechanisms, and design. 
    2.  Robotic  folding algorithms, years of folding experiments, and accumulated knowledge which is kept encrypted and confidential as part of our trade secrets. 
    3.  Brand  name and logo trademarks registered in 12 designated regions worldwide.

  • The Q&A with the Founder is based on due diligence activities conducted by SI Securities, LLC. The verbal and/or written responses transcribed above may have been modified to address grammatical, typographical, or factual errors, or by special request of the company to protect confidential information.

    Term Sheet

    A Side by Side offering refers to a deal that is raising capital under two offering types. If you plan on investing less than US $20,000.00, you will automatically invest under the Regulation CF offering type. If you invest more than US $20,000.00, you must be an accredited investor and invest under the Regulation D offering type.

    Fundraising Description

  • Round type:
    Bridge

  • Round size:
    US $3,000,000

  • Raised to date:
    US $644,480
    US $398,480 (under Reg CF only)

  • Minimum investment:
    US $1,000

  • Target Minimum:
    US $600,000
  • Key Terms

  • Security Type:
    Crowd Note

  • Conversion discount:
    10.0%

  • Valuation Cap:
    US $35,000,000

  • Interest rate:
    5.0%

  • Note term:
    24 months
  • Additional Terms

  • Custody of Shares

    Investors who invest $100,000 or less will have their securities held in trust with a Custodian that will serve as a single shareholder of record. These investors will be subject to the Custodian’s Account Agreement, including the electronic delivery of all required information. 


  • Closing conditions:
    While FoldiMate has set an overall target minimum of US $600,000 for the round, FoldiMate must raise at least US $25,000 of that amount through the Regulation CF portion of their raise before being able to conduct a close on any investments below $20,000. For further information please refer to FoldiMate's Form C.

  • Regulation CF cap:
    While FoldiMate is offering up to US $3,000,000 worth of securities in its Bridge, only up to US $1,070,000 of that amount may be raised through Regulation CF.

  • Transfer restrictions:
    Securities issued through Regulation CF have a one year restriction on transfer from the date of purchase (except to certain qualified parties as specified under Section 4(a)(6) of the Securities Act of 1933), after which they become freely transferable. While securities issued through Regulation D are similarly considered "restricted securities" and investors must hold their securities indefinitely unless they are registered with the SEC and qualified by state authorities, or an exemption from such registration and qualification requirements is available.

  • Use of Proceeds

    Investor Perks

    $2,000   |  Pre-order waitlist priority spot

    $3,000   |  10% off a future purchase plus waitlist priority to pre-order

    $7,000   |  30% off a future purchase plus waitlist priority to pre-order

    $15,000 |  70% off a future purchase plus waitlist priority to pre-order

    $25,000 |  100% discount - a complimentary FoldiMate  when it is released in your region

    $50,000 |  An in-person meeting or video call (depending on your location) with FoldiMate’s executive team three times a year,  VIP invitations to FoldiMate’s public events, and a complimentary FoldiMate when we reach your region.

    * Discount does not include taxes and shipping

    It is advised that you consult a tax professional to fully understand any potential tax implications of receiving investor perks before making an investment.

    Financial Discussion

    Operations

    FoldiMate Inc. was incorporated in September of 2012 under the laws of the State of Delaware, and is headquartered in Oak Park, California. FoldiMate Inc. is a California based startup committed to simplifying household chores affordably through technology, innovation and robotics. The company’s first robotic product, FoldiMate, will put an end to laundry folding as we know it.

    The accompanying consolidated financial statements of FoldiMate Inc. (“FoldiMate”) and its wholly owned subsidiary, FoldiMate Ltd. (together “the Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).

    Liquidity and Capital Resources

    The proceeds from the Offering are essential to our operations. We plan to use the proceeds as set forth above under "Use of Proceeds", which is an indispensable element of our business strategy. The Offering proceeds will have a beneficial effect on our liquidity, as we have approximately $810,353 in cash balances as of April 30, 2019 which will be augmented by the Offering proceeds and used to execute our business strategy.

    The Company currently does not have any additional outside sources of capital other than the proceeds from the Combined Offerings. Capital Expenditures and Other Obligations

    Capital Expenditures and Other Obligations

    The Company does not intend to make any material capital expenditures in the future.

    Trends and Uncertainties

    After reviewing the above discussion of the steps the Company intends to take, potential Purchasers should consider whether achievement of each step within the estimated time frame is realistic in their judgment. Potential Purchasers should also assess the consequences to the Company of any delays in taking these steps and whether the Company will need additional financing to accomplish them.

    The financial statements are an important part of this Form C and should be reviewed in their entirety. The financial statements of the Company are attached in the Data Room.

    Market Landscape

    B2C (Homes)

    There are more than 30M households in the US alone with a large enough home (over 1,000 sq/ft) and available income (over $100K/yr) which could potentially purchase a FoldiMate. We will first target 6M families who also have at least one child of age 6 and above, and are more likely to buy a unit early on  - See Pitch Deck, slide #12.

    B2B (Coin-operated)

    We are also considering adding self-service functionality to the unit (with credit cards or an app) to be used in shared laundry rooms, so those who don’t have a washer or dryer at home could still take advantage of FoldiMate where they do their laundry today. We estimate there are over 200K locations in the US that can fit the relevant demographics See Pitch Deck, slide #15.

    Competitive Landscape

    We are aware that large brands have attempted to develop a laundry folding device. We aren’t aware of any other solution that has reached our level of maturity. The one competitor that we kept close eyes on recently announced bankruptcy (Laundroid by Seven Dreamers from Japan) as they failed to develop a viable product See Pitch Deck, slide #4.

    The “secret sauce” of FoldiMate is our proprietary robotic folding algorithms, combined with the in-field data we collect. This combination of engineering and insight allows our device to fold as it does today and will continue to improve as we deploy more units. The software will be encrypted to prevent competitors or copycats from replicating FoldiMate’s performance and capabilities. We estimate it will take them years to develop on their own, not to mention the insight we’ll gain from data collecting which will allow us to stay ahead of the competition as we scale further. We have also registered multiple patents making it very difficult to build anything similar to FoldiMate - See Pitch Deck, slide #7.

    Risks and Disclosures

    The Company has a limited history upon which to evaluate its performance and future prospects. Our current and proposed operations are subject to all the business risks associated with new enterprises. These include likely fluctuations in operating results as the Company makes significant investments in research, development and product opportunities, and reacts to developments in its market, including purchasing patterns of customers, and the entry of competitors into the market. We will only be able to pay dividends on any shares once our directors determine that we are financially able to do so. FoldiMate has incurred a net loss in the last three fiscal years and has generated limited revenues since inception. We cannot assure you that we will be profitable in the future or generate sufficient revenues to pay dividends to the holders of the shares or meet our debt servicing and payment obligations.

    We cannot assure you that we will effectively manage our growth. FoldiMate expects to continue hiring additional employees. The growth and expansion of our business and products create significant challenges for our management, operational, and financial resources, including managing multiple relationships and interactions with customers, strategic partners, vendors, distributors and other third parties. As the Company continues to grow, our information technology systems, internal management processes, internal controls and procedures and production processes may not be adequate to support our operations. To ensure success, we must continue to improve our operational, financial, and management processes and systems and to effectively expand, train, and manage our employee base and partners’ employees as well. As we continue to grow, and implement more complex organizational and management structures, we may find it increasingly difficult to maintain the benefits of our corporate culture, including our current team’s efficiency and expertise, which could negatively affect our business performance.

    Our costs may grow more quickly than our revenues, harming our business and profitability. Producing & providing FoldiMate products is costly because of our research and development expenses, production costs and need for employees with specialized skills. We expect our expenses to continue to increase in the future as we expand our product offerings beyond our Robotic Laundry Folder, expand production capabilities and hire additional employees. Historically, FoldiMate’s costs have increased each year due to these factors and the Company expects to continue to incur increasing costs, in particular for working capital to purchase inventory, marketing and product deployments as well as costs of customer support in the field. Our expenses may be greater than we anticipate, which would have a negative impact on our financial position, assets and ability to invest further in the growth and expansion of the business. In addition, expansion beyond the US will require increased marketing, sales, promotion and other operating expenses. Further, as additional competitors enter our market, we expect an increased pressure on production costs and margins.

    We expect to have to raise additional capital through equity and/or debt offerings and to provide our employees with equity incentives. There is no assurance that we will be successful in such financings and, if successful, your ownership interest in the Company is likely to continue to be diluted. Even once the Crowd Note convert into preferred or common equity securities, as applicable, the investor’s stake in the Company could be diluted due to the Company issuing additional shares. In order to fund future growth and development, the Company will likely need to raise additional funds in the future by offering shares of its preferred stock and/or other classes of equity or debt that convert into shares of preferred or common stock, any of which offerings would dilute the ownership percentage of investors in this offering. There is no assurance that the Company will be able to raise equity or debt or on terms that are not substantially dilutive to the existing shareholder and the investors. See “Dilution.” Furthermore, if the Company raises debt, the holders of the debt would have priority over holders of common and preferred stock and the Company may accept terms that restrict its ability to incur more debt.

    The loss of one or more of FoldiMate’s key personnel, or FoldiMate’s failure to attract and retain other highly qualified personnel in the future, could harm our business. FoldiMate currently depends on the continued services and performance of key members of its management team its founder Gal Rozov & the executive team. If we cannot call upon them or other key management personnel for any reason, our operations and development could be harmed. The Company has not yet developed a succession plan. Furthermore, as the Company grows, it will be required to hire and attract additional qualified professionals such as accounting, legal, finance, production, service and engineering experts. The Company may not be able to locate or attract qualified individuals for such positions, which will affect the Company’s ability to grow and expand its business.

    If we are unable to protect our intellectual property, the value of our brand and other intangible assets may be diminished and our business may be adversely affected. FoldiMate relies and expects to continue to rely on a combination of confidentiality agreements with its employees, consultants, and third parties with whom it has relationships, as well as trademark, copyright, patent, trade secret, and domain name protection laws, to protect its proprietary rights. The Company has filed in the United States and other countries various applications for protection of certain aspects of its intellectual property, and currently holds two patents. However, third parties may knowingly or unknowingly infringe our proprietary rights, third parties may challenge proprietary rights held by FoldiMate, and pending and future trademark and patent applications may not be approved. In addition, effective intellectual property protection may not be available in every country in which we intend to operate in the future. In any or all of these cases, we may be required to expend significant time and expense in order to prevent infringement or to enforce our rights. Although we have taken measures to protect our proprietary rights, there can be no assurance that others will not offer products or concepts that are substantially similar to those of FoldiMate and compete with our business. If the protection of our proprietary rights is inadequate to prevent unauthorized use or appropriation by third parties, the value of our brand and other intangible assets may be diminished and competitors may be able to more effectively mimic our product and methods of operations. Any of these events could have an adverse effect on our business and financial results.

    The Company’s cash position is relatively weak. The Company currently has only $810,353 in cash balances as of April 30, 2019. This equates to roughly 4 months of runway. The Company could be harmed if it is unable to meet its cash demands, and the Company may not be able to continue operations if they are not able to raise additional funds.

    If we cannot raise sufficient funds we will not succeed. For the past year, we have operated at a net loss. Our net loss for 2018 was $3,558,913. Although we aim to reach profitability within the next 30 to 40 months, if we are unable to raise enough money in this offering and from additional sources, we will be unable to pay the costs needed for us to continue operations. Additional fundraising in the future may be offered at a lower valuation, which would dilute the interest of investors in this offering, or on more favorable terms – for example, debt financing, which could be positioned ahead of the investors in this offering in terms of seniority. Please see “Dilution” for more information.

    The Company’s success is dependent on consumer adoption of robotic laundry folders, an unproven market. The Company may incur substantial operating costs, particularly in sales and marketing and research and development, in attempting to develop this market. If the market for the Company’s products develops more slowly than it expects, its growth may slow or stall, and its operating results would be harmed. The market for home robotics is still evolving, and the Company depends on continued growth of this market. It is uncertain whether the trend of adoption of home robotics that the Company has experienced in the past will continue in the future.

    We may face competition within the robotic laundry folding market. We are aware of a number of other companies that are developing robotic laundry folders that may potentially compete with our technology and services. These or new competitors may have more resources than us or may be better capitalized, which may give them a significant advantage, for example, in offering better pricing than the Company, surviving an economic downturn or in reaching profitability. We cannot assure you that we will be able to compete successfully against existing or emerging competitors. Additionally, existing home appliance manufacturing firms may also compete on price by lowering their operating costs, developing new business models or providing other incentives.

    We face intense competition in the major home appliance industry and failure to successfully compete could negatively affect our business and financial performance. The home appliance market of which we will be a competitor is a highly competitive business environment and faces intense competition from a growing number of competitors, many of which have strong consumer brand equity. Several of these competitors who may enter the robotic laundry folding market through internal projects or acquisition, are large, well-established companies, many ranking among the Global Fortune 150, and have demonstrated a commitment to global success. We also face competition that may be able to quickly adapt to changing consumer preferences, particularly in the connected appliance space. Moreover, our customer base includes large, sophisticated trade customers who have many choices and demand competitive products, services and prices. Competition in the global appliance industry is based on a number of factors including selling price, product features and design, performance, innovation, reputation, energy efficiency, quality, cost, distribution, and financial incentives, such as promotional funds, sales incentives, volume rebates and terms. Many of our competitors are increasingly expanding beyond their existing manufacturing footprints. Our future and current competitors, especially global competitors with low-cost sources of supply and/or highly protected home marketplaces outside the United States, may aggressively price their products and/or introduce new products to increase market share and expand into new geographies. Many of our competitors have established and may expand their presence in the rapidly changing retail environment, including the shifting of consumer purchasing practices towards e-commerce and other channels. If we are unable to successfully compete in this highly competitive environment, our business and financial performance could be negatively affected.

    Governmental regulation and associated legal uncertainties may adversely affect the Company’s business. The products & services that the Company offers are regulated by federal and state governments, and its ability to provide these services is and will continue to be affected by government regulations. The implementation of unfavorable regulations or unfavorable interpretations of existing regulations by courts or regulatory bodies could require the Company to incur significant compliance costs, cause the development of the affected markets to become impractical and otherwise have a material adverse effect on the business, results of operations and financial condition. In addition, its business strategy involves expansion into regions around the world, many of which have different legislation, regulatory environments, tax laws and levels of political stability. Compliance with foreign legal, regulatory or tax requirements will place demands on the Company’s time and resources, and it may nonetheless experience unforeseen and potentially adverse legal, regulatory or tax consequences.

    Maintaining, extending and expanding our reputation and brand image are essential to our business success. We seek to maintain, extend, and expand our brand image through marketing investments, including advertising and consumer promotions, and product innovation. Increasing attention on marketing could adversely affect our brand image. It could also lead to stricter regulations and greater scrutiny of marketing practices. Existing or increased legal or regulatory restrictions on our advertising, consumer promotions and marketing, or our response to those restrictions, could limit our efforts to maintain, extend and expand our brands. Moreover, adverse publicity about regulatory or legal action against us could damage our reputation and brand image, undermine our customers’ confidence and reduce long-term demand for our products, even if the regulatory or legal action is unfounded or not material to our operations. In addition, our success in maintaining, extending, and expanding our brand image depends on our ability to adapt to a rapidly changing media environment. We increasingly rely on social media and online dissemination of advertising campaigns. The growing use of social and digital media increases the speed and extent that information or misinformation and opinions can be shared. Negative posts or comments about us, our brands or our products on social or digital media, whether or not valid, could seriously damage our brands and reputation. If we do not establish, maintain, extend and expand our brand image, then our product sales, financial condition and results of operations could be adversely affected.

    Product-related liability or product recall costs could adversely affect our business and financial performance. We may be exposed to product-related liabilities, which in some instances may result in product redesigns, product recalls, or other corrective action. In addition, any claim, product recall or other corrective action that results in significant adverse publicity, particularly if those claims or recalls cause customers to question the safety or reliability of our products, may negatively affect our business, financial condition, or results of operations. We maintain product liability insurance, but it may not be adequate to cover losses related to product liability claims brought against us. Product liability insurance could become more expensive and difficult to maintain and may not be available on commercially reasonable terms, if at all. We may be involved in class action litigation for which we generally have not purchased insurance, and may be involved in certain other product recalls or other litigations or events for which insurance products may have limitations. We intend to regularly engage in investigations of potential quality and safety issues as part of our ongoing effort to deliver quality products to our customers. Actual costs of these and any future issues depend upon several factors, including the number of consumers who respond to a particular recall, repair and administrative costs, whether the cost of any corrective action is borne by us or the supplier, and, if borne by us, whether we will be successful in recovering our costs from the supplier. The actual costs incurred as a result of these issues and any future issues could have a material adverse effect on our business, financial condition or results of operations.

    As we launch our product, the ability of suppliers to deliver parts, components and manufacturing equipment to our manufacturing facilities, and our ability to manufacture without disruption, could affect our global business performance. We intend to use a wide range of materials and components in the global production of our products, which come from numerous suppliers around the world. Because not all of our business arrangements will provide for guaranteed supply and some key parts may be available only from a single supplier or a limited group of suppliers, we are subject to supply and pricing risk. In addition, certain proprietary component parts used in some of our products are provided by single-source unaffiliated third-party suppliers. We would be unable to obtain these proprietary components for an indeterminate period of time if these single-source suppliers were to cease or interrupt production or otherwise fail to supply these components to us, which could adversely affect our product sales and operating results. Our operations and those of our suppliers are subject to disruption for a variety of reasons, including work stoppages, labor relations, intellectual property claims against suppliers, information technology failures, and hazards such as fire, earthquakes, flooding, or other natural disasters. Insurance for certain disruptions may not be available, affordable or adequate. Such disruption could interrupt our ability to manufacture certain products. Any significant disruption could negatively impact our revenue and/or earnings performance.

    Fluctuations and volatility in the cost of raw materials and purchased components could adversely affect our operating results. The sources and prices of the primary materials (such as steel, resins, and base metals) used to manufacture our products and components containing those materials are susceptible to significant global and regional price fluctuations due to supply/demand trends, transportation costs, labor costs, government regulations and tariffs, changes in currency exchange rates, price controls, the economic climate, and other unforeseen circumstances.

    Risks associated with our future international operations may decrease our revenues and increase our costs. We intend to manufacture and sell internationally. We expect that international sales will account for a significant percentage of our net sales. Accordingly, we face numerous risks associated with conducting international operations, any of which could negatively affect our financial performance. These risks include the following:

    • Political, legal, and economic instability and uncertainty
    • Foreign currency exchange rate fluctuations
    • Changes in foreign tax rules, regulations and other requirements, such as changes in tax rates and statutory and judicial interpretations of tax laws
    • Changes in diplomatic and trade relationships, including sanctions resulting from the current political situation in countries in which we do business
    • Inflation and/or deflation
    • Changes in foreign country regulatory requirements, including data privacy laws.
    • Various import/export restrictions and disruptions and the availability of required import/export licenses
    • Imposition of tariffs and other trade barriers
    • Managing widespread operations and enforcing internal policies and procedures such as compliance with U.S. and foreign anti-bribery, anti-corruption regulations and anti-money laundering, such as the FCPA, and antitrust laws
    • Labor disputes and work stoppages at our operations and suppliers
    • Government price controls

    As a U.S. corporation, we are subject to the FCPA, which may place us at a competitive disadvantage to foreign companies that are not subject to similar regulations. Additionally, any determination that we have violated the FCPA or other anti-corruption laws could have a material adverse effect on us.

    Terrorist attacks, cyber events, armed conflicts, civil unrest, natural disasters, governmental actions and epidemics could affect our domestic and international sales, disrupt our supply chain, and impair our ability to produce and deliver our products. Such events could directly impact our physical facilities or those of our suppliers or customers.

    We are exposed to risks associated with the uncertain global economy. The current domestic and international political and economic environment are posing challenges to the industry in which we operate. As with other appliance manufacturers, a number of economic factors, including gross domestic product, availability of consumer credit, interest rates, consumer sentiment and debt levels, retail trends, housing starts, sales of existing homes, the level of mortgage refinancing and defaults, fiscal and credit market uncertainty, and foreign currency exchange rates, currency controls, inflation and deflation, will generally affect demand for our products. Economic uncertainty and related factors exacerbate negative trends in business and consumer spending and may cause certain customers to push out, cancel, or refrain from placing orders for our products. Uncertain market conditions, difficulties in obtaining capital, or reduced profitability may also cause some customers to scale back operations, exit markets, merge with other retailers, or file for bankruptcy protection and potentially cease operations, which can also result in lower sales and/or additional inventory. These conditions may similarly affect key suppliers, which could impair their ability to deliver parts and result in delays for our products or added costs. In addition, these conditions may lead to strategic alliances by, or consolidation of, other appliance manufacturers, which could adversely affect our ability to compete effectively.

    Regional, political and economic instability in countries in which we do business may adversely affect business conditions, disrupt our operations, and have an adverse effect on our financial condition and results of operations. Uncertainty about future economic and industry conditions also makes it more challenging for us to forecast our operating results, make business decisions, and identify and prioritize the risks that may affect our businesses, sources and uses of cash, financial condition and results of operations. We may be required to implement additional cost reduction efforts, including restructuring activities, which may adversely affect our ability to capitalize on opportunities in a market recovery. In addition, our operations are subject to general credit, liquidity, foreign exchange, market and interest rate risks. Our ability to invest in our businesses, fund strategic acquisitions and refinance maturing debt obligations depends in part on access to the capital markets.

    If we do not timely and appropriately adapt to changes resulting from the uncertain macroeconomic environment and industry conditions, or to difficulties in the financial markets, or if we are unable to continue to access the capital markets, our business, financial condition and results of operations may be materially and adversely affected.

    We may be subject to information technology system failures, network disruptions, cybersecurity attacks and breaches in data security, which may materially adversely affect our operations, financial condition and operating results. We depend on information technology to improve the effectiveness of our operations and to interface with people who have given deposits or expressed interest in our product and our employees and in the future with our customers, consumers, as well as to maintain financial accuracy and efficiency. Our business processes and data sharing across functions, suppliers, and vendors is dependent on information technology integration. The failure of any systems, whether internal or third-party, during normal operation, system upgrades, implementations, or connections, could disrupt our operations by causing transaction errors, processing inefficiencies, delays or cancellation of customer orders, the loss of customers, impediments to the manufacture or shipment of products, other financial and business disruptions, or the loss of or damage to intellectual property and the personally identifiable data of consumers and employees.

    In addition, we have outsourced certain information technology support services and administrative functions, such as system application maintenance and benefit plan administration, to third-party service providers and may outsource other functions in the future to achieve cost savings and efficiencies. If these service providers do not perform effectively, we may not achieve the expected cost savings and may incur additional costs to correct errors made by such service providers. Depending on the function involved, such errors may also lead to business disruption, processing inefficiencies or the loss of or damage to intellectual property and personally identifiable information through system compromise, or harm employee morale.

    Our information systems, or those of our third-party service providers, could also be impacted by inappropriate or mistaken activity of parties intent on extracting or corrupting information or disrupting business processes. Such unauthorized access could disrupt our business and could result in the loss of assets. Cybersecurity attacks are becoming more sophisticated and include malicious software, attempts to gain unauthorized access to data, and other electronic security breaches that could lead to disruptions in critical systems, unauthorized release of confidential or otherwise protected information, and corruption of data. These events could impact our customers, consumers, employees, third-parties and reputation and lead to financial losses from remediation actions, loss of business or potential liability or an increase in expense, all of which may have a material adverse effect on our business.

    The company has conducted related party transactions. During the years ended December 31, 2018 and 2017, a shareholder of the Company advanced funds for operations. These advances are non‐interest bearing. At December 31, 2018 and 2017, the amount of advances outstanding is $4,449 and $37,037, respectively, and are recorded under ‘Accounts payable related party’ on the consolidated balance sheets. During the years ended December 31, 2018 and 2017, the Company paid funds to a shareholder of the company. These advances are non‐interest bearing. At December 31, 2018 and 2017, the amount of advances outstanding is $13,061 and $44,366, respectively, and are recorded under ‘Receivable – related parties’ on the consolidated balance sheets. The Company pays a related party a management fee. For the years ended December 31, 2018 and December 31, 2017, the management fee was $124,998 and $105,996, respectively. In addition, during the year ended 2017, the Company paid a related party $88,212 for the 2016 management fee, office and other expenses.

    General Risks and Disclosures

    Start-up investing is risky. Investing in startups is very risky, highly speculative, and should not be made by anyone who cannot afford to lose their entire investment. Unlike an investment in a mature business where there is a track record of revenue and income, the success of a startup or early-stage venture often relies on the development of a new product or service that may or may not find a market. Before investing, you should carefully consider the specific risks and disclosures related to both this offering type and the company which can be found in this company profile and the documents in the data room below.

    Your shares are not easily transferable. You should not plan on being able to readily transfer and/or resell your security. Currently there is no market or liquidity for these shares and the company does not have any plans to list these shares on an exchange or other secondary market. At some point the company may choose to do so, but until then you should plan to hold your investment for a significant period of time before a "liquidation event" occurs. A "liquidation event" is when the company either lists their shares on an exchange, is acquired, or goes bankrupt.

    The Company may not pay dividends for the foreseeable future. Unless otherwise specified in the offering documents and subject to state law, you are not entitled to receive any dividends on your interest in the Company. Accordingly, any potential investor who anticipates the need for current dividends or income from an investment should not purchase any of the securities offered on the Site.

    Valuation and capitalization. Unlike listed companies that are valued publicly through market-driven stock prices, the valuation of private companies, especially startups, is difficult to assess and you may risk overpaying for your investment. In addition, there may be additional classes of equity with rights that are superior to the class of equity being sold.

    You may only receive limited disclosure. While the company must disclose certain information, since the company is at an early-stage they may only be able to provide limited information about its business plan and operations because it does not have fully developed operations or a long history. The company may also only obligated to file information periodically regarding its business, including financial statements. A publicly listed company, in contrast, is required to file annual and quarterly reports and promptly disclose certain events — through continuing disclosure that you can use to evaluate the status of your investment.

    Investment in personnel. An early-stage investment is also an investment in the entrepreneur or management of the company. Being able to execute on the business plan is often an important factor in whether the business is viable and successful. You should be aware that a portion of your investment may fund the compensation of the company's employees, including its management. You should carefully review any disclosure regarding the company's use of proceeds.

    Possibility of fraud. In light of the relative ease with which early-stage companies can raise funds, it may be the case that certain opportunities turn out to be money-losing fraudulent schemes. As with other investments, there is no guarantee that investments will be immune from fraud.

    Lack of professional guidance. Many successful companies partially attribute their early success to the guidance of professional early-stage investors (e.g., angel investors and venture capital firms). These investors often negotiate for seats on the company's board of directors and play an important role through their resources, contacts and experience in assisting early-stage companies in executing on their business plans. An early-stage company may not have the benefit of such professional investors.

    Representatives of SI Securities, LLC are affiliated with SI Advisors, LLC ("SI Advisors") Representatives of SI Securities, LLC are affiliated with SI Advisors, LLC ("SI Advisors"). SI Advisors is an exempt investment advisor that acts as the General Partner of SI Selections Fund I, L.P. ("SI Selections Fund"). SI Selections Fund is an early stage venture capital fund owned by third-party investors. From time to time, SI Selections Fund may invest in offerings made available on the SeedInvest platform, including this offering. Investments made by SI Selections Fund may be counted towards the total funds raised necessary to reach the minimum funding target as disclosed in the applicable offering materials.

    FoldiMate's Form C

    The Form C is a document the company must file with the Securities and Exchange Commission, which includes basic information about the company and its offering and is a condition to making a Reg CF offering available to investors. It is important to note that the SEC does not review the Form C, and therefore is not recommending and/or approving any of the securities being offered.

    Download FoldiMate's  Form C

    Frequently Asked Questions

    About Side by Side Offerings
    What is Side by Side?

    A Side by Side offering refers to a deal that is raising capital under two offering types. This Side by Side offering is raising under Regulation CF and Rule 506(c) of Regulation D.


    What is a Form C?

    The Form C is a document the company must file with the Securities and Exchange Commission (“SEC”) which includes basic information about the company and its offering and is a condition to making a Reg CF offering available to investors. It is important to note that the SEC does not review the Form C, and therefore is not recommending and/or approving any of the securities being offered.

    Before making any investment decision, it is highly recommended that prospective investors review the Form C filed with the SEC (included in the company's profile) before making any investment decision.


    What is Rule 506(c) under Regulation D?

    Rule 506(c) under Regulation D is a type of offering with no limits on how much a company may raise. The company may generally solicit their offering, but the company must verify each investor’s status as an accredited investor prior to closing and accepting funds. To learn more about Rule 506(c) under Regulation D and other offering types check out our blog and academy.


    What is Reg CF?

    Title III of the JOBS Act outlines Reg CF, a type of offering allowing private companies to raise up to $1 million from all Americans. Prior capital raising options limited private companies to raising money only from accredited investors, historically the wealthiest ~2% of Americans. Like a Kickstarter campaign, Reg CF allows companies to raise funds online from their early adopters and the crowd. However, instead of providing investors a reward such as a t-shirt or a card, investors receive securities, typically equity, in the startups they back. To learn more about Reg CF and other offering types check out our blog and academy.


    Making an Investment in FoldiMate
    How does investing work?

    When you complete your investment on SeedInvest, your money will be transferred to an escrow account where an independent escrow agent will watch over your investment until it is accepted by FoldiMate. Once FoldiMate accepts your investment, and certain regulatory procedures are completed, your money will be transferred from the escrow account to FoldiMate in exchange for your securities. At that point, you will be a proud owner in FoldiMate.


    What will I need to complete my investment?

    To make an investment, you will need the following information readily available:

    1. Personal information such as your current address and phone number
    2. Employment and employer information
    3. Net worth and income information
    4. Social Security Number or passport
    5. ABA bank routing number and checking account number (typically found on a personal check or bank statement)

    If you are investing under Rule 506(c) of Regulation D, your status as an Accredited Investor will also need to be verified and you will be asked to provide documentation supporting your income, net worth, revenue, or net assets or a letter from a qualified advisor such as a Registered Investment Advisor, Registered Broker Dealer, Lawyer, or CPA.


    How much can I invest?

    An investor is limited in the amount that he or she may invest in a Reg CF offering during any 12-month period:

    • If either the annual income or the net worth of the investor is less than $100,000, the investor is limited to the greater of $2,000 or 5% of the lesser of his or her annual income or net worth.
    • If the annual income and net worth of the investor are both greater than $100,000, the investor is limited to 10% of the lesser of his or her annual income or net worth, to a maximum of $100,000.

    Separately, FoldiMate has set a minimum investment amount of US $1,000.

    Accredited investors investing $20,000 or over do not have investment limits.


    After My Investment
    What is my ongoing relationship with the Issuer?

    You are a partial owner of the company, you do own securities after all! But more importantly, companies which have raised money via Regulation CF must file information with the SEC and post it on their websites on an annual basis. Receiving regular company updates is important to keep shareholders educated and informed about the progress of the company and their investment. This annual report includes information similar to a company’s initial Reg CF filing and key information that a company will want to share with its investors to foster a dynamic and healthy relationship.

    In certain circumstances a company may terminate its ongoing reporting requirement if:

    1. The company becomes a fully-reporting registrant with the SEC
    2. The company has filed at least one annual report, but has no more than 300 shareholders of record
    3. The company has filed at least three annual reports, and has no more than $10 million in assets
    4. The company or another party purchases or repurchases all the securities sold in reliance on Section 4(a)(6)
    5. The company ceases to do business

    However, regardless of whether a company has terminated its ongoing reporting requirement per SEC rules, SeedInvest works with all companies on its platform to ensure that investors are provided quarterly updates. These quarterly reports will include information such as: (i) quarterly net sales, (ii) quarterly change in cash and cash on hand, (iii) material updates on the business, (iv) fundraising updates (any plans for next round, current round status, etc.), and (v) any notable press and news.


    How can I sell my securities in the future?

    Currently there is no market or liquidity for these securities. Right now FoldiMate does not plan to list these securities on a national exchange or another secondary market. At some point FoldiMate may choose to do so, but until then you should plan to hold your investment for a significant period of time before a “liquidation event” occurs. A “liquidation event” is when FoldiMate either lists their securities on an exchange, is acquired, or goes bankrupt.


    How do I keep track of this investment?

    You can return to SeedInvest at any time to view your portfolio of investments and obtain a summary statement. If invested under Regulation CF you may also receive periodic updates from the company about their business, in addition to monthly account statements.


    Other General Questions
    What is this page about?

    This is FoldiMate's fundraising profile page, where you can find information that may be helpful for you to make an investment decision in their company. The information on this page includes the company overview, team bios, and the risks and disclosures related to this investment opportunity. If the company runs a side by side offering that includes an offering under Regulation CF, you may also find a copy of the FoldiMate's Form C. The Form C includes important details about FoldiMate's fundraise that you should review before investing.


    How can I (or the company) cancel my investment under Regulation CF?

    For offerings made under Regulation CF, you may cancel your investment at any time up to 48 hours before a closing occurs or an earlier date set by the company. You will be sent a reminder notification approximately five days before the closing or set date giving you an opportunity to cancel your investment if you had not already done so. Once a closing occurs, and if you have not canceled your investment, you will receive an email notifying you that your securities have been issued. If you have already funded your investment, your funds will be promptly refunded to you upon cancellation. To cancel your investment, you may go to your account's portfolio page by clicking your profile icon in the top right corner.


    What if I change my mind about investing?

    If you invest under any other offering type, you may cancel your investment at any time, for any reason until a closing occurs. You will receive an email when the closing occurs and your securities have been issued. If you have already funded your investment and your funds are in escrow, your funds will be promptly refunded to you upon cancellation. To cancel your investment, please go to your account's portfolio page by clicking your profile icon in the top right corner.