This round is no longer accepting investments, but hundreds just like it are live now.

Log In

INVEST IN VEEBOT SYSTEMS TODAY!

Hands-Free, Accurate Needle Insertion

Veebot Systems has developed an autonomous, image-guided robotic needle insertion system to revolutionize vascular access–taking the guesswork out of one of the world’s most common medical procedures. Our patented technology is designed to eliminate painful failed needle sticks and enable healthcare providers to deliver the highest standard of care – from blood draws to IV catheter insertion to vaccine delivery – we believe the future of needle insertion is here.

This Reg CF offering is made available through StartEngine Capital, LLC. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.

$67,099.65 Raised

REASONS TO INVEST

Industry Need: Veebot Systems is pioneering an automated solution to IV needle insertion, a gateway medical procedure performed over 1 billion times every year. While this procedure happens in virtually every medical facility, it is traditionally difficult for medical staff and costly for medical facilities, with ¼ attempts failing.*

Breakthrough Patented Technology & Working Prototype: We hold 4 U.S. and 1 European patent for our robotic needle insertion technology, with additional patents pending. Our working prototype has successfully obtained IV access on a wide array of subjects with different body and skin types, including traditionally difficult profiles for needle insertion. We are currently preparing to conduct a series of clinical trials.

Huge Market Potential: Our image-guided needle insertion system has many different applications in the healthcare space, from blood draw to IV insertion, catheter placement, vaccine delivery, and biopsies – creating an enormous opportunity for our company to provide value to the healthcare industry.

*Information from The National Library of Medicine (Source)







Overview


Re-inventing Needle Insertion

*This product is still currently under development and is not yet available on the market.


Veebot Systems’ working prototype combines medical imaging and robotics to eliminate the guesswork from needle insertion procedures. Our system aims to reduce failed needle insertion attempts – even in patients with traditionally low success rates –to improve patient comfort and access to treatment and facilitate diagnostics and care both inside and outside of traditional medical facilities.



The Problem & Our solution


Failed Needle Insertion Attempts:
One of Healthcare's Most Overlooked Problems

Over 1 billion attempts to gain intravenous access are performed each year, making them among the most common invasive medical procedures in the world. These procedures are traditionally challenging, with 1 out of every 4 attempts failing due to a combination of difficult patient anatomy and the experience of the person inserting the needle. Failed attempts result in bottlenecks at healthcare facilities and poor patient experience, creating a genuine need to improve the existing standard of care.


*This product is still currently under development and is not yet available on the market.


Veebot Systems aims to revolutionize needle insertion by introducing image guidance and robotic precision into every attempt. Our system uses state of the art medical imaging, computer vision, and machine learning to automatically identify target insertion sites, track them in real-time, and robotically align and insert a needle into a selected target. Our technology has shown overwhelming promise on a wide array of subjects, from overweight men to petite women across all skin complexions and body types.


the market & Our Traction


Groundbreaking Technology for 
Needle Insertion

We estimate the total addressable global market for peripheral needle insertion to be approximately $50 billion – comprised of consumables including needles, IVs, tubes, etc. – (29%) and labor (71%). We believe our system is equipped to impact this market by changing the way needle insertion is performed.



Veebot has developed a working prototype that has successfully gained venous access on males and females with different skin colors and body types. We currently hold 4 U.S. and 1 European patent focused on this technology and have several applications pending. We are currently applying for an Investigational Device Exemption from the FDA to begin clinical trials that demonstrate the feasibility, safety, and efficacy of our system.


Our mission is to revolutionize needle insertion, led by our passionate founding team of engineers and a physician-entrepreneur and supported by an advisory group of physicians with backgrounds in anesthesiology, acute care, dialysis, and vascular surgery.



Why Invest


The Future of Needle Insertion: 
Image-Guided, Robotic Precision

*This product is still currently under development and is not yet available on the market.


Needle insertion is a gateway medical procedure and an essential part of healthcare, used millions of times every day to facilitate patient diagnosis and treatment. Because these procedure fail so often – causing pain for patients and stress and delays for healthcare facilities – we believe that our hands-free needle insertion technology has the potential to impact multiple sectors of the healthcare market. From blood draw, to IV insertion, to dialysis catheter insertion, to vaccinations and biopsies – our technology can be used in both traditional medical facilities like hospitals, doctor's offices, and blood labs, as well as non-traditional facilities such as pharmacies, military bases, and home care. 


At Veebot Systems, our goal is to provide a better patient experience and eliminate bottlenecks in the healthcare system caused by failed needle insertion attempts. With an estimated $50 billion annual market opportunity and billions of procedures done each year, our patented technology stands to benefit from creating a better standard of care in needle insertion. 



Code View

ABOUT

HEADQUARTERS
13113 NW 42nd Ave
Opa Locka, FL 33054

Veebot Systems has developed an autonomous, image-guided robotic needle insertion system to revolutionize vascular access–taking the guesswork out of one of the world’s most common medical procedures. Our patented technology is designed to eliminate painful failed needle sticks and enable healthcare providers to deliver the highest standard of care – from blood draws to IV catheter insertion to vaccine delivery – we believe the future of needle insertion is here.

TEAM

William Haugland
William Haugland
Chief Executive Officer, President

Will Haugland is the CEO and cofounder of Veebot Systems. Before becoming CEO, Will was the Lead Computer Vision Engineer and was responsible for development of the algorithms related to computer vision. Will worked on the development of algorithms used to identify and track vessels in real time using medical images. Will later contributed to the overall development process and worked to improve the overall function and reliability of the products being developed by Veebot Systems. Prior to joining the Veebot Systems team Will earned his masters degree at the University of Bergen in Applied and Computational Mathematics with an emphasis on medical imaging. Will earned his bachelor's degree at the University of Miami in Biomedical Engineering with a minor in mathematics before working on his masters. 

Richard Harris
Richard Harris
Co-founder, Treasurer, Board Member

Richard Harris is a Mechanical Engineer by training. He graduated from Princeton University with a degree in Mechanical Engineering and then from Stanford with a Masters in Mechanical Engineering. Richard started his career as a Systems Engineer for Seaview Research, and grew to become CTO and member of the Board. Shortly after the sale of Seaview Research to Quotient Sciences, Richard founded American Standard Value Inc, where he began purchasing and overseeing the operation of swimming pool service businesses. After four acquisitions and a merger agreement, the company sold to Atlantic Street Capital in 2021. Richard has also worked as a Software Engineer for Neocis Inc, a dental robotics company based out of Miami, Florida. He is an avid value investor and loves tennis and computer programming.

Stuart Harris
Stuart Harris
Co-founder, Board Member, Secretary

Stuart Harris got his MD and PhD from the Division of Physiology and Pharmacology from Duke University. After briefly working at the NIH, Stuart became the Medical Director for SFBC, a Phase I CRO in Miami, Florida. Stuart later founded Seaview Research, and where he served as President and Medical Director for over 22 years before selling the busienss to Quotient Sciences. Stuart is a lifetime entrepreneur, being the cofounder of Pollo Tropical in 1988 which sold for $90MM to Carrols Corporation in 1998, and early investor in Vector Products, a designer of portable power products, which sold to Black and Decker in 2006.

TERMS

Veebot Systems
Overview
PRICE PER SHARE
$3.18
DEADLINE
Apr 11, 2023
VALUATION
$13.99M
FUNDING GOAL
$10k - $1.23M
Breakdown
MIN INVESTMENT
$101.76
MAX INVESTMENT
$1,234,997.52
MIN NUMBER OF SHARES OFFERED
3,144
MAX NUMBER OF SHARES OFFERED
388,364
OFFERING TYPE
Equity
ASSET TYPE
Common Stock
SHARES OFFERED
Common Stock

Maximum Number of Shares Offered subject to adjustment for bonus shares

Most Recent Fiscal Year-End

Prior Fiscal Year-End

Total Assets

$1,018,176

$953,823

Cash & Cash Equivalents

$23,113

$10,808

Accounts Receivable

$0

$0

Short-Term Debt

$0

$10,045

Long-Term Debt

$0

$16,666

Revenue & Sales

$0

$0

Costs of Goods Sold

$0

$0

Taxes Paid

$0

$0

Net Income

-$63,936

-$71,918

*Maximum number of shares offered subject to adjustment for bonus shares. See Bonus info below.

Voting Rights of Securities Sold in this Offering

Voting Proxy. Each Subscriber shall appoint the Chief Executive Officer of the Company (the “CEO”), or his or her successor, as the Subscriber’s true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Subscriber, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Subscriber pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Subscriber is an individual, will survive the death, incompetency and disability of the Subscriber and, so long as the Subscriber is an entity, will survive the merger or reorganization of the Subscriber or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.

Time-Based Perks

Friends and Family - First 72 hours | 15% bonus shares

Super Early Bird - Next 72 hours | 10% bonus shares

Early Bird Bonus - Next 7 days | 5% bonus shares

Volume-Based Perks

Tier 1 Perk — Invest $1000+ and receive 1% bonus shares

Tier 2 Perk — Invest $5,000+ and receive 2% bonus shares

Tier 3 Perk — Invest $10,000+ and receive 5% bonus shares

Tier 4 Perk — Invest $25,000+ and receive 10% bonus shares

Tier 5 Perk — Invest $50,000+ and receive 15% bonus shares

*In order to receive perks from an investment, one must submit a single investment in the same offering that meets the minimum perk requirement. Bonus shares from perks will not be granted if an investor submits multiple investments that, when combined, meet the perk requirement. All perks occur when the offering is completed.

The 10% StartEngine Owners' Bonus

Veebot Systems 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 for any shares they purchase in this offering. For example, if you buy 100 shares of Common Stock at $3.18 / share, you will receive 110 shares of Common Stock, meaning you'll own 110 shares for $318. 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.

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 in addition to the aforementioned bonus.

Irregular Use of Proceeds

The Company will not incur any irregular use of proceeds.

ALL UPDATES

06.02.23

We are terminating our offering

We want to thank all our investors for their incredible support during our crowd funding offering! Unfortunately, we have decided to move forward with terminating our offering. Stay tuned for an email from StartEngine which will provide more information on the cancellation and expected refunds. To stay up to date with all things related to Veebot Systems please check our website.

03.13.23

Campaign Extension

We are pleased to be extending our campaign by 30 days. If you’ve already invested, thank you for your support! StartEngine will be sending an email asking you to confirm your investment.Please be sure to confirm it!

We are excited to share some updates on the progress we’ve made since launching our campaign, which include:

1. Completing another round of internal precision testing in which our system reliably obtained access on a 2mm phantom vessel with a 100% success rate

2. Completing system modifications suggested by FDA

3. Updating our clinical trial protocol based on feedback from the Internal Review Board

4. Incorporating 4 new software features to enhance system safety

5. Adding 2 new features that provide the operator with robust capability to obtain vascular access on any vessel visible to the operator in the ultrasound image

6. Completing a first round of internal verification testing and correcting 

7 minor software deviations and 1 minor hardware deviation7. Beginning a second round of internal verification and validation testing, scheduled to be completed by March 31

8. Remaining on track to submit a new patent application by end of March 2023

9. Holding several conversations with a leading pharmaceutical company during which we presented our system and discussed a potential collaboration opportunity

10. Demoing our device to an executive of a major metropolitan hospital, who is working with his team to identify the needle-based procedures that our system can add the most value to

We are very appreciative of your interest and support thus far. We look forward to providing another update on our progress towards the end of the month!

Owners bonus
Stack Owner's Bonus & Rewards!

Members get an extra 10% shares in addition to rewards below!

REWARDS

Multiple investments in an offering cannot be combined to qualify for a larger campaign perk. Get rewarded for investing more into Veebot Systems.

JOIN THE DISCUSSION

0/2500

KF
Kevin Fulmer

7 INVESTMENTS

2 months ago

Hi William! I read in your offering circular that you are adding $25k in capital to the company each time your balance dips below $5k. How does this affect other shareholders when the next $25k is added? How much capital do you believe is necessary to go to market with this product?

2

0













WH
William Haugland

3 months ago

We are pleased to be extending our campaign by 30 days. If you’ve already invested, thank you for your support! StartEngine will be sending an email asking you to confirm your investment. Please be sure to confirm it! We are excited to share some updates on the progress we’ve made since launching our campaign, which include: 1. Completing another round of internal precision testing in which our system reliably obtained access on a 2mm phantom vessel with a 100% success rate 2. Completing system modifications suggested by FDA 3. Updating our clinical trial protocol based on feedback from the Internal Review Board 4. Incorporating 4 new software features to enhance system safety 5. Adding 2 new features that provide the operator with robust capability to obtain vascular access on any vessel visible to the operator in the ultrasound image 6. Completing a first round of internal verification testing and correcting 7 minor software deviations and 1 minor hardware deviation 7. Beginning a second round of internal verification and validation testing, scheduled to be completed by March 31 8. Remaining on track to submit a new patent application by end of March 2023 9. Holding several conversations with a leading pharmaceutical company during which we presented our system and discussed a potential collaboration opportunity 10. Demoing our device to an executive of a major metropolitan hospital, who is working with his team to identify the needle-based procedures that our system can add the most value to We are very appreciative of your interest and support thus far. We look forward to providing another update on our progress towards the end of the month!

0

0

LM
Larry Martinez

4 months ago

Hello Veebot team, I am a phlebotomist and have been for 7 years now, I would love to invest in your new tech but I have a few concerns. 1. Burn victims as we know have scarring and have very difficult veins too find. How does this device instill confidence against our veins finders which are hand held. 2. Same question towards ex-addicts who have ruined all their arm veins and in some cases IVs need to be put in the foot. 3. What type of personnel would need to operate this system. Because every department in a hospital or clinic need to be certified in their profession.

0

3

tt
todd taylor

4 months ago

Dear William, First of all, thanks for your feedback. Being inside the labs, we all know that a robotic arm costs a lot of money as we have made studies to implement them on the analytical chains and it costs ! Finding a precise robotic arm for less than $15K looks impressive on paper (and almost impossible...) and here you told us that the overall device will cost $15K, How can you do that ? On top of it, what will be the cost of your single use pack for each patient ? Lastly, when do you plan to have a new video in order for us to take our final investment decision. Best regards, Todd

1

0













tt
todd taylor

5 months ago

Dear William, You said in one of your comments that the Veebot prototype have several improvement since 2013. Unfortunately on the video we do not see any kind of improvement. Do you have updated video to show to the public ? I would like to better understand your price positioning as such technology should cost a lot to healthcare institute, could you give more information on this subject ? Also I found a company called "Puncture robotics" from Harbin group in China that looks to have access to your patent, could you specify this information ? Are they related to Veebot team ? Thanks in advance for your update on this subject, Kind Regards Todd

1

0













DS
David Schrift

5 months ago

Thanks for the reply, William. A followup. Is your system portable or is it stationary requiring patients to come to a central location ? David

1

0













DS
David Schrift

5 months ago

Hi, I noticed your product/company has been in development since 2012/2013 and touted a 83% success rate back then. 10 years later (today) the success rate is the same and clinical trials have not started. What happened between 2012 and 2022 and why will the next 10 years be any different than the last 10? Also, what market insight do you have into potential customers? Most hospitals have vascular access teams and since your device still requires a tech I am not sure it is going to reduce costs?? Sure, fewer needle sticks and higher patient satisfaction I can see but how much would a customer (hospital) be willing to spend for that?? Thanks in advance for answering my questions David

1

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.

RAISED
$67,099.65
INVESTORS
109
MIN INVEST
$101.76
VALUATION
$13.99M

@ 2022 All Rights Reserved

Apple Store Logo

Get To Know Us

Our Team

Careers

Blog

Important Message

IN MAKING AN INVESTMENT DECISION, INVESTORS MUST RELY ON THEIR OWN EXAMINATION OF THE ISSUER AND THE TERMS OF THE OFFERING, INCLUDING THE MERITS AND RISKS INVOLVED. INVESTMENTS ON STARTENGINE ARE SPECULATIVE, ILLIQUID, AND INVOLVE A HIGH DEGREE OF RISK, INCLUDING THE POSSIBLE LOSS OF YOUR ENTIRE INVESTMENT.


www.StartEngine.com is a website owned and operated by StartEngine Crowdfunding, Inc. (“StartEngine”), which is neither a registered broker-dealer, investment advisor nor funding portal.


Unless indicated otherwise with respect to a particular issuer, all securities-related activity is conducted by regulated affiliates of StartEngine: StartEngine Capital, LLC, a funding portal registered here with the US Securities and Exchange Commission (SEC) and here as a member of the Financial Industry Regulatory Authority (FINRA), or StartEngine Primary, LLC, a broker-dealer registered with the SEC and FINRA/SIPC . You can review the background of our broker-dealer and our investment professionals on FINRA’s BrokerCheck here. StartEngine Secondary is an alternative trading system regulated by the SEC and operated by StartEngine Primary, LLC, a broker dealer registered with the SEC and FINRA. StartEngine Primary, LLC is a member of SIPC and explanatory brochures are available upon request by contacting SIPC at (202) 371-8300.


Investment opportunities posted and accessible through the site are of three types:


1) Regulation A offerings (JOBS Act Title IV; known as Regulation A+), which are offered to non-accredited and accredited investors alike. These offerings are made through StartEngine Primary, LLC (unless otherwise indicated). 2) Regulation D offerings (Rule 506(c)), which are offered only to accredited investors. These offerings are made through StartEngine Primary, LLC. 3) Regulation Crowdfunding offerings (JOBS Act Title III), which are offered to non-accredited and accredited investors alike. These offerings are made through StartEngine Capital, LLC. Some of these offerings are open to the general public, however there are important differences and risks.


Any securities offered on this website have not been recommended or approved by any federal or state securities commission or regulatory authority. StartEngine and its affiliates do not provide any investment advice or recommendation and do not provide any legal or tax advice with respect to any securities. All securities listed on this site are being offered by, and all information included on this site is the responsibility of, the applicable issuer of such securities. StartEngine does not verify the adequacy, accuracy or completeness of any information. Neither StartEngine nor any of its officers, directors, agents and employees makes any warranty, express or implied, of any kind whatsoever related to the adequacy, accuracy, or completeness of any information on this site or the use of information on this site. See additional general disclosures here.


By accessing this site and any pages on this site, you agree to be bound by our Terms of use and Privacy Policy, as may be amended from time to time without notice or liability.


Canadian Investors Investment opportunities posted and accessible through the site will not be offered to Canadian resident investors. Potential investors are strongly advised to consult their legal, tax and financial advisors before investing. The securities offered on this site are not offered in jurisdictions where public solicitation for offerings is not permitted; it is solely your responsibility to comply with the laws and regulations of your country of residence.


California Investors Only – Do Not Sell My Personal Information (800-317-2200). StartEngine does not sell personal information. For all customer inquiries, please write to contact@startengine.com.


StartEngine’s Reg A+ offering is made available through StartEngine Crowdfunding, Inc. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. For more information about this offering, please view StartEngine’s offering circular and risk associated with this offering.