GET A PIECE OF LIGHTSENSE TECHNOLOGY
Public Health Detection Simplified
$180,362.27 Raised
Reasons to Invest
- We provide unique solutions to intractable problems in public health.
- Our unique EPS technology is applicable to many important and growing markets.
- Lightsense has a strong and experienced management team with innovative differentiated products powering future SaaS and disposable revenue pathways.
OVERVIEW
At Lightsense, we’re breaking new ground in public health
That’s because we are translating expensive, tabletop spectrometer instrumentation into miniaturized, handheld platforms - all with AI/ML powered optical detection technology that can serve a wide range of analytical applications.
Our focus is on utilizing this new class of tools to help solve some major problems in public health - such as detecting fentanyl and other illicit drugs in the opioid epidemic, detecting viral pathogens in the COVID-19 pandemic, as well as detecting bacterial pathogens in the food safety field.
We are a diverse and experienced group of successful scientists, engineers, and entrepreneurs focused on using modern optics techniques (especially miniaturized spectroscopy), advances in sensors and machine learning to attack problems related to public health in new, insightful ways.
THE PROBLEM
Public Health is facing some critical problems
In all the critical areas of public health - the common thread is that detection and testing solutions need to be faster, less expensive and more accurate.
THE SOLUTION
Meet the Multispectral Point-of-Need Analyzers
Lightsense has developed a multi-spectral technology platform, the patented “Enhanced Photodetection Spectroscopy” (EPS) , a radical new spectroscopy architecture, for chemical, molecular and pathogen identification.
Our devices can address critical analytical and detection problems in multiple areas of public health - like rapid detection of illicit drugs, rapid screening for viral/bacterial pathogens, and monitoring bacterial pathogens in various parts of the food supply chain.
When it comes to the science: Spectroscopy uses light of many wavelengths to analyze objects or chemical compounds. This light energy interrogates the molecule of interest and produces a spectral response - creating what scientists call a “spectral fingerprint.” This fingerprint contains large amounts of data, and with our multispectral approach, data fusion and analysis, we can increase sensitivity. AI/ML can be used to detect known patterns and monitor samples, like in the three mentioned areas of public health, above, where we are creating solutions and partnerships.
Machine Learning is a critical feature in our technology. It not only uses algorithms to detect patterns otherwise not visible and predict outcomes, EPS spectra contain large amounts of data which are aggregated in Cloud databases, allowing monetizing them as a new subscription service.
Our business model includes both hardware and SaaS components. What makes us unique is a radical new and patented spectroscopy that integrates three or more individual spectroscopies with data fusion and machine learning analytics. Our miniaturization technology allows the construction of integrated small and handheld instruments.
Our IP can also be licensed along with products in specific domain applications. Unique solutions can be crafted for individual partners and customers justifying licensing agreements and related higher margins.
We project our various hardware platforms to cost between $5K and $20K, and we believe we can outperform more expensive competing products, both in performance and in simplicity and ease of use. We project additional revenue from software (SaaS subscriptions) and for certain applications, disposable sample holders.
THE MARKET
Applications in a Multitude of Industries
Our applications and technology will find applications beyond traditional areas of Public Health. We anticipate that our devices will address critical analytical and detection problems in a wide range of large vertical markets.
Here’s the Total Addressable Markets (TAMS) from our initial focus markets.
Lightsense miniaturized handheld spectrometers can be used in a variety of analysis applications with performance comparable to that of laboratory instruments, but at a dramatically lower cost, and ease of use.
Our handheld spectrometers, both current products and instruments under development, are lightweight, easy to use, accurate, faster, and less expensive than competing technologies. We believe our technology will reach a multitude of industries.
Our Traction
Completed first raise, and accelerating with a second
We completed our first seed “A1” raise with SeedInvest, and will accelerate our developments with a second “A2” seed round now.
Among our recent accomplishments, we received a Food and Beverage Magazine Award for the top 10 food safety solutions providers (Source).
The basis for the Lightsense technology portfolio has been developed by a seasoned and accomplished team over many years. Collectively, we’ve been granted over 150 patents in our careers, on a wide range of technologies.
Currently, the Lightsense patent portfolio lineup includes:
- 7 issued or allowed patents on miniaturized spectrometers and EPS multi-spectral designs, including both Lightsense owned and exclusively licensed
- 4 patent applications
- Multiple patent applications in preparation
WHY INVEST
Providing more and sensitive data for machine learning
By focusing on new techniques for sample preparation and data analysis, as well as advances in sensors and machine learning - we expect to enable new solutions in areas of public health with very high sensitivity and easy-to-use products that are efficient and lower cost.
Success for us looks like ..
- Growing revenue and margin in our targeted areas, along with increased government contracts and awards to further our scientific foundations
- Having robust and profitable partnerships in 3-4 market segments that utilize our technologies in different ways
THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.
ABOUT
HEADQUARTERS
7080 N CATHEDRAL ROCK PL
Tucson, AZ 85718
WEBSITE
View Site
At Lightsense, we use optics, along with machine learning and analysis to provide better solutions for critical areas of public health like food safety, the overuse of antibiotics, and the opioid crisis. That’s why we developed a revolutionary new multispectral technology platform to redefine spectroscopy - providing a new generation of spectroscopic tools for analyzing materials and biological systems. Our company is pre-revenue and in prototyping stages with multiple patents and partnership paths underway.
TEAM
Terje Skotheim, Ph.D.
CHIEF EXECUTIVE OFFICER
Bruce Berkoff
CHIEF MARKETING OFFICER
Wade Poteet, Ph.D.
CHIEF TECHNOLOGY OFFICER
John Coates, Ph.D.
VP Optical Design
Richard Kris Ph.D
VP Biotechnology
Joshua Nelson
VP Finance
Kevin Harris
VP Engineering
Michael Berman
VP Manufacturing
Michael Stanley
VP Machine Learning
Gordon Davidson
VP Government Programs
Stephen Whalley
Board Director
TERMS
Lightsense Technology
Overview
PRICE PER SHARE
$8.57
DEADLINE
Oct 12, 2022
VALUATION
$18.02M
FUNDING GOAL
$10k - $2M
Breakdown
MIN INVESTMENT
$351.37
MAX INVESTMENT
$2,000,006.61
MIN NUMBER OF SHARES OFFERED
1,167
MAX NUMBER OF SHARES OFFERED
233,373
OFFERING TYPE
Equity
ASSET TYPE
Preferred Stock
SHARES OFFERED
Series Seed Preferred Stock
Maximum Number of Shares Offered subject to adjustment for bonus shares
*Maximum number of shares offered subject to adjustment for Bonus Shares. See Bonus Share info below.
Company Perks*
Audience-Based:
5% Bonus Shares for previous investors.
Time-Based:
Friends and Family Early Birds
Invest within the first 96 hours and receive 10% Bonus Shares.
Early Bird Bonus
Invest after the first 96 hours but within the first two weeks and receive 5% Bonus Shares.
Amount-Based (not "stacked" with time-based):
$1,000+
Invest $1,000+ and receive 2% Bonus Shares.
$5,000+
Invest $5,000+ and receive 5% Bonus Shares.
*All perks occur when the offering is completed.
The 10% StartEngine Owners' Bonus
Lightsense Technology will offer 10% additional Bonus Shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. Owner's bonus.
This means eligible StartEngine shareholders will receive a 10% Bonus Shares for any shares they purchase in this offering. For illustration, if an eligible StartEngine investor buys 100 shares of Series Seed Preferred Stock at $8.57 / share, that investor will receive 110 shares of Series Seed Preferred Stock, for an aggregate purchase price of $857. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid during the investors' eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are canceled or fail.
Subject to the provision related to the Owner's Bonus in the sentence following, Investors will receive the highest single bonus they are eligible for among the bonuses based on the amount invested and time of offering elapsed (if any). Eligible investors will also receive the Owner’s Bonus and the Previous Investors' Bonus in addition to the aforementioned bonus.
As provided in the Company’s Restated Certificate of Incorporation, attached as Exhibit F, the issuance of Bonus shares to an investor will lower the per-share price of all such shares issued to such investor to reflect the issuance of such additional Bonus Shares (i.e., the Bonus Shares will have the same (lower) per-share price as all other shares being purchased, determined by dividing the total purchase price paid by the investor by the total number of shares acquired (including any Bonus Shares)—for illustration, if an investor purchases 100 shares for an aggregate investment of $875 and receives 10% Bonus Shares (resulting in 110 total shares), the per-share price (“Original Issue Price”) of each share issued to such investor (including each Bonus Share) will be deemed to be $7.7009 per share).
ALL UPDATES
Stack Owner's Bonus & Rewards!
Members get an extra 10% shares in addition to rewards below!
REWARDS
JOIN THE DISCUSSION
0/2500
Peter Koning
a year ago
No reply to my question from 7 days ago. I'm out.
1
0
Peter Koning
a year ago
Why is the focus on the drug (e.g. fentanyl) detection primarily on law enforcement. There are over 10,000 deaths in our province since 2016, due to this crisis. I have no issue with detection for enforcement, but interested in your thoughts on the market in detection related to saving lives?
1
0
Robert Danese
a year ago
Very good content guys. Looking forward to the webinar.
0
0
Thawirat Chotirawi
a year ago
Definitely interested in investing and hear more about your technology.
1
0
Shari Brandt
a year ago
A month ago, John H reported being unable to invest in Lightsense because of a StartEngine bug on investing. I reported the same 3 days ago. StartEngine is taking a cut of Lightsense' startup funding but is not holding up on its end of the bargain. Start Engine needs to FIX THIS and then extend the time for Lightsense' raise and also work to promote it since it has impeded Lightsense' progress. BTW, StartEngine sent me a link to submit an investment and it doesn't work either. I strongly suggest Lightsense raise this issue with Start Engine also.
1
0
Shari Brandt
a year ago
I'm interested in investing, but Start Engine's "Invest Now" link for this security isn't working--and hasn't for a few days now. I've notified Start Engine but have not received a response and the issue has not been corrected.
1
0
Hon Fai Choi
a year ago
Hello,
would it be possible to give your point of view on potential competitors and how your products relate to theirs? It is not mentioned in the pitch deck. Multi-purpose handheld spectrometers are already available on the market, and the ones you have developed seem to only target very specific compounds. What would be the edge that you have over your competitors? Thanks.
1
0
Jon Sims
a year ago
What independent testing has been done on the accuracy of your products, and what were the results?
Thanks.
1
0
John Hwung
a year ago
Hi Lightsense Team,
You may want to contact StartEngine management right now! I am trying to invest in your company, but I can't because there is a bug:
When I clicked the "INVEST NOW" button, I get directed to a page to open a new account. The thing is: I have been investing on StartEngine Platform for the past 3 years.
-John Hwung
2
0
HOW INVESTING WORKS
Cancel anytime before 48 hours before a rolling close or the offering end date.
WHY STARTENGINE?
REWARDS
We want you to succeed and get the most out of your money by offering rewards and memberships!
SECURE
Your info is your info. We take pride in keeping it that way!
DIVERSE INVESTMENTS
Invest in over 200 start-ups and collectibles!
With Regulation A+, a non-accredited investor can only invest a maximum of 10% of their annual income or 10% of their net worth per year, whichever is greater. There are no restrictions for accredited investors.
With Regulation Crowdfunding, non-accredited investors with an annual income or net worth less than $124,000, are limited to invest a maximum of 5% of the greater of those two amounts. For those with an annual income and net worth greater than $124,000, he/she is limited to investing 10% of the greater of the two amounts.
At the close of an offering, all investors whose funds have “cleared” by this time will be included in the disbursement. At this time, each investor will receive an email from StartEngine with their Countersigned Subscription Agreement, which will serve as their proof of purchase moving forward.
Please keep in mind that a company can conduct a series of “closes” or withdrawals of funds throughout the duration of the campaign. If you are included in that withdrawal period, you will be emailed your countersigned subscription agreement and proof of purchase immediately following that withdrawal.
StartEngine assists companies in raising capital, and once the offering is closed, we are no longer involved with whether the company chooses to list shares on a secondary market, or what occurs thereafter. Therefore, StartEngine has no control or insight into your investment after the close of the live offering. In addition, we are not permitted to provide financial advice. You may want to contact a financial professional to discuss possible investment outcomes.
For Regulation Crowdfunding, investors are able to cancel their investment at any point throughout the campaign up until 48 hours before the closing of the offering. Note: If the company does a rolling close, they will post an update to their current investors, giving them the opportunity to cancel during this timeframe. If you do not cancel within this 5-day timeframe, your funds will be invested in the company, and you will no longer be able to cancel the investment. If your funds show as ‘Invested’ on your account dashboard, your investment can no longer be canceled.
For Regulation A+, StartEngine allows for a four-hour cancelation period. Once the four-hour window has passed, it is up to each company to set their own cancelation policy. You may find the company’s cancelation policy in the company’s offering circular.
Once your investment is canceled, there is a 10-day clearing period (from the date your investment was submitted). After your funds have cleared the bank, you will receive your refund within 10 business days.
Refunds that are made through ACH payments can take up to 10 business days to clear. Unfortunately, we are at the mercy of the bank, but we will do everything we can to get you your refund as soon as possible. However, every investment needs to go through the clearing process in order to get sent back to the account associated with the investment.
Both Title III (Regulation Crowdfunding) and Title IV (Reg A+) help entrepreneurs crowdfund capital investments from unaccredited and accredited investors. The differences between these regulations are related to the investor limitations, the differing amounts of money companies are permitted to raise, and differing disclosure and filing requirements. To learn more about Regulation Crowdfunding, click here, and for Regulation A+, click here.
PINNED BY STARTUP
David Slegh
a year ago
2
0