Altopa is currently raising $3M to close our $5M Preferred Series A round. We will use these funds to complete a final round of engineering and testing, including an external beta launch, and transfer our inventory build process to contract manufacturing. Additionally, we will use these funds to conduct a pilot commercial launch in late 2018 and target high-usage medicinal cannabis consumers in Oregon and Washington.
Management plans to raise our last round of financing in early 2019 to support inventory build and national commercialization. Given that we will be generating revenue, we anticipate that this last round of financing will be sourced through an institutional lender or a royalty fund. Based on our projections, we expect to be cash flow positive within 18 months of our commercial launch.
The Series A round represents Altopa’s second round of financing. In 2016, Altopa closed a $1.4M Preferred Series Seed equity round. This financing enabled the company to build Altopa’s executive team, develop a beta-ready Oblend, create the Oblend app, file 26 patent applications (1 patent has been granted), develop supply chain and sales channels, and perform extensive market research.
Altopa, The Ideal Investment
Multiple Sources of Recurring Revenue with High Margins
Decades of Experience in Healthcare, Technology, Health & Wellness
Targeting Fastest Growing Industry with Disruptive Product
Oblend App Collecting User Data (Long-Term Value)
“Hands-Off” Operating Model (we don’t touch the plant)
Cash Flow Positive 18 Months Post Commercial Launch
Multiple Platform Expansion and Exit Opportunities
CES 2018 Innovation Award Winner
Selected as 1 of 9 Companies Featured on National TV Series
Oblend Device & App Ready for Beta Testing
26 Patent Applications Filed; 1 Patent Issued
Initial Supply Chain and Sales Channels Identified
Key Strategic Partnerships Formed