Solgaard

Innovative and sustainably designed gear

Solgaard

Innovative and sustainably designed gear

New York, NY
E-Commerce
Fashion & Apparel
Solgaard is a design-driven, sustainable brand that is always ready for adventure. Our mission is to leave the planet a better place than we found it. Our work solves everyday problems for people through innovative and sustainable design. We built a whole ecosystem of premium travel and lifestyle gear, created with ocean-bound plastics. Our goal is to help cut ocean plastic in half by 2025.

$339,289

raised
357
Investors
$24M
Valuation
$2.00
Price per Share
$300.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
Reg CF
Offering

$339,289

raised
357
Investors
$24M
Valuation
$2.00
Price per Share
$300.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
Reg CF
Offering

Bonus Rewards

Get rewarded for investing more into Solgaard

$300+
Investment
StartEngine Owner’s Bonus
This offering is eligible for the StartEngine Owner’s 10% Bonus program. For details on this program, please see the Offering Summary section below.
$500+
Investment
Tier 1 perk
$500 - (Solarbank Boombox)
$1,000+
Investment
Tier 2 perk
$1,000 (Limited edition, unreleased “Solgaard Shareholder” engraved watch with Swiss Movement)
$2,500+
Investment
Tier 3 perk
$2,500 (Limited edition, unreleased “Solgaard Shareholder” engraved watch with Swiss Movement and Carry-On Closet Suitcase)
$5,000+
Investment
Tier 4 perk
$5,000 (Limited edition, unreleased “Solgaard Shareholder” engraved watch with Swiss Movement, Carry-On Closet Suitcase, and Check-In Closet Suitcase + 5% bonus shares)
$10,000+
Investment
Tier 5 perk
$10,000 (Limited edition, unreleased “Solgaard Shareholder” engraved watch with Swiss Movement, Carry-On Closet Suitcase, and Check-In Closet Suitcase + 7% bonus shares)
$25,000+
Investment
Tier 6 perk
$25,000 (Limited edition, unreleased “Solgaard Shareholder” engraved watch with Swiss Movement, Carry-On Closet Suitcase, and Check-In Closet Suitcase + 10% bonus shares)

Reasons to Invest

Sales revenue tripled from 2018-2019, and YTD 2020 we’ve achieved 465% e-commerce growth compared to 2019.
Awarded Time Magazine’s Best Inventions 2018, and FastCompany’s World Changing Ideas 2020.
With a deep IP portfolio centered on sustainability, the products serve loyal customers and also the planet.

We upcycle ocean plastic into premium consumer goods.

Overview


Our journey started by perfecting the mobile office 

We solve the needs of the modern day consumer while also making the planet a better place. It all began in 2016 when we launched our first product, Lifepack, a solar-powered and anti-theft backpack. Four years, three patents, and one world changing ideas award later, we're continuing to offer premium products to help our customers stay organized and connected, all while helping tackle the plastic that is polluting our oceans.

Our product lines work together seamlessly, including Lifepack for every day, Carry-On Closet for travel, HomeBase for your home, and Solarbanks to power any part of your journey.


With every item sold, we pull 5 pounds of plastic from beaches and riverways to use in the production of our premium gear and have removed all single-use plastics from our products. By upcycling ocean waste into our products, we aim to be a driving force in cutting ocean plastic in half by 2025.

The Problem


Remote work life on-the-go is complex - few products support this lifestyle.

Modern work/life balance is complicated. Remote work means longer hours, difficulty staying organized, and it's nearly impossible to escape constant phone notifications.


There never seems to be an outlet in airports, backpack theft/pickpocketing is still a real thing, traditional suitcases lack organization creating a mess as you dig to find things, and with increasingly blurred lines between work and home, the need for dedicated separation is critical.  


On top of that, sustainability among consumer goods brands is still in its infancy. We are innovating ahead of the curve - using upcycled ocean plastic for our fabric and structural material across our product range. Each year, 17 billion pounds of plastic ends up in the ocean. As the ocean provides us with 70% of the oxygen we breathe, the urgency of helping our seas is paramount to the survival of human life on earth.

The Solution


We have an ecosystem of smart products on a mission to help the Earth

Life on-the-go can be chaotic, making it difficult to stay organized and well-connected. We create gear for the modern world that caters to the needs of our customers - busy people navigating the balance of work and life.

We design products to solve our own daily headaches when we  realized we weren't the only ones struggling to keep everything connected and organized.


Our first product, Lifepack aka 'The Mobile Office', is a solar powered and anti-theft backpack. Launched in 2016 during the first boom of remote work, the Lifepack was dubbed ‘the swiss army knife of backpacks’ by Yahoo. Our backers agreed - it raised 1.2 million dollars between Kickstarter and Indiegogo. With the exponential shift to remote work experienced in the first half of 2020, the need to bring your workspace wherever you go is increasingly important.


Our second category launch was into luggage with The Carry-On Closet™. This line of suitcases integrates a shelving system allowing you to pack/unpack more quickly and stay organized on the go. This game changing solution to the problem of the messy suitcase and is a dream for people traveling that change cities and hotel rooms each day by making packing and unpacking quick and easy. The Carry-On Closet was awarded Time Magazine Best Inventions in 2018


Our third category launch into smart home was with the HomeBase raised over $600k on Kickstarter over the summer of 2020. HomeBase is a multi-functional ecosystem allowing you to wirelessly charge your devices and ensures the needed separation between you and your notifications. Additionally the HomeBase incorporates an acoustic chamber increasing amplification of your tunes when our Solarbank boombox is placed on top. 


We use ocean-bound plastic in all of our products. Our proprietary fabric, Shore-Tex™, received a FastCompany world changing ideas award in 2020. We've also developed a structural material from ocean-bound plastic called Shore-Plast, which we're beginning to phase into our production to further increase the amount of recycled materials used in our products. Our inventive plastic recycling techniques have earned us a membership at NextWave Plastics, a global network of brands using ocean-bound plastic in their supply chains. Other members include IKEA, Humanscale, Dell, Herman Miller, HP, Trek Bicycles, and more.

Our Traction


Strong global growth that started via crowdfunding

Four years ago, we launched via Kickstarter. Our first campaign was Lifepack, a solar-powered backpack that raised $1.2 million (Kickstarter + Indiegogo combined). In total, we have launched 6 campaigns via crowdfunding raising over 3.2 million. Thanks to our incredible community of over 19,000 backers who are passionate about our products and our mission - we have grown to create an ecosystem of award winning products.

Our cumulative revenue is $8 million, with 3x growth from 2018-2019. We achieved 465% YoY e-commerce growth from 2019 - 2020, even during a global pandemic.

The Market


Growth by listening to our customers 

Everyone has always asked us: "What’s your vertical’ - which category of products do you sell?" We aren’t fixated on a vertical of products - rather, we are obsessed with our customers.


Young professionals who work on laptops - we make gear to fit their lives. Whether it’s at home, while traveling, working, or life after work - we’re giving them pieces that improve their life in any setting - and of course, made sustainably.


Fundamentally, we are a design company that centers itself on sustainability. Gen Z and millennial consumers are 50% more likely to switch brands or pay more for a brand with sustainable values (Bloomberg, FastCompany). The sustainability and the eco-fashion market are expected to reach $150 billion in 2021 (Nielsen).

Our products reach a variety of different markets:  from remote work, to travel, to smart homes. We started in remote work, then added travel - where our Carry-on Closet quickly propelled us to new heights. We’re on track to continue growing as millennial spending on travel reached $200 billion (source). However, with COVID-19 restrictions and the explosive growth of remote work, we are able to launch our home solutions, generating $601,389 of revenue via Kickstarter in just 45 days. Our launch aligns as the global smart home market is set to grow to $246 billion by 2025 (source).

What We Do


Gear for Global Citizens

We build premium products for the modern consumer while cleaning toxic plastic from our oceans. Our products are created with ocean-bound plastic and make solar energy accessible to power everyday essentials.

The Business Model


Direct-to-consumer focus and expanding with key major retailers

By having customers come directly to our website, we cut out the middleman of distribution and thus offer great value to the end consumer. This allows us to develop and nurture strong relationships with our customers due to the direct contact. We offer free shipping throughout the U.S., making it easy for any American consumer to purchase our products. We have begun selling wholesale to major global retailers where there is a strategic fit that allows for broader brand recognition and to reach new customers. We also offer corporate sales to purchase sustainable gear in bulk - which companies can use for corporate gifting or for outfitting their employees with branded backpacks.

How We Are Different


Patented technology geared toward creating a better planet

Our products aim to serve not just the modern consumer, adventurer, and remote worker but also the planet. Our approach to tackle these two goals at once is what makes us unique. We make the best products with the most sustainable materials.

Our deep IP portfolio secures our unique offerings. Through our proprietary products, we continue to create new offerings with our three patents: Backpack Lock, Carry-on Closet, Hexagon-shaped watch and handful of trademarks: Shore-Tex™, Gear for Global Citizens™, and Great Things That Do Good™, Solgaard™, Carry-On Closet™, and Lifepack™.

The Vision


Pioneering sustainable design that you can trust

We want to continue pioneering sustainable design and technologies. We will continue to be a leader in the inventive use of new materials while making great products serving our world.

As we diversify our product offering across multiple categories, we open up to new markets. With hero products in Travel, Remote Work, and SmartHome, we continue to foster a community of loyal customers who trust us to innovate. This allows for a recurring revenue stream and a hyper-loyal customer base. We want to grow our inventory, activate new marketing tactics, and develop new materials that not only build brilliant products, but also help reduce the pollution plaguing our planet.

OUR LEADERSHIP


Collaboration at our core with a diverse global team

Collaboration is at our core. We built our team from late-night calls and remote determination. From inception we are global - Solgaard is driven by people from seven different countries and a diverse group of backgrounds. Our team and its diversity are extremely important to us, we have an equal gender split that we will continue to maintain. We represent the U.S., Norway, Canada, Dominican Republic, Brazil, Sweden, Ireland, and the U.K.

Our founding team, Adrian Solgaard, and Chris Cavill have been loyal and motivated entrepreneurs from the start - working together since 2012.
 

Our shareholders and advisors are experienced direct-to-consumer investors and entrepreneurs, including A.J. Vaynerchuk of VaynerMedia and VaynerSports, Avani Patel & Matt Jung of The Ember Company, and Jeff Shupe - Co-Founder and COO of SRAM.

Why Invest


Ride the wave that is saving our oceans

Simply put, people believe in our mission - over 50,000 people in fact. We want to be a part of the solution that cleans our oceans of harmful plastics and in turn, saving our planet.

It starts here, with Solgaard’s innovative and growing ecosystem of products spanning different markets. Since launching four years ago, we’ve shipped out over 100,000 units to an ever-growing customer base, gaining $8 million in cumulative revenue. Our scalable, proprietary technologies continue to change the way fabrics and plastics are used in consumer goods.

 

We’ve garnered high-profile recognition with our team, honored by Time Magazine, FastCompany, Forbes, and more.

 

Not only are we committed to innovating for the global citizen, the remote worker, and everyday life, but we are incredibly committed to innovating for our irreplaceable planet.

In the Press

Time Magazine Best Inventions
November 15, 2018

The Carry-On Closet won Time Magazine Best inventions 2018 due to its innovative and elegant packing solution that allows the user to pack up a hotel room in 1 minute rather than 20.

FastCompany
January 1, 2017

World Changing Ideas Awards 2020: Consumer Products Finalists and Honorable Mentions

Lonely Planet
January 1, 2017

9 great sustainable travel products for your next trip

CNET

Best laptop backpack for 2020

Rolling Stone

Sustainable Gift Guide: 22 Eco-Friendly Gifts to Give Right Now

Forbes

Valentine’s Day Gift Guide: The Best Red Carry-Ons

Wired

Our Favorite Upcycled and Recycled Products

The New York TImes

The Traveler’s Conundrum: Unpack or Not Unpack?

USA Today

10 recycled products you need to add to your closet

Esquire

The 40+ Best Gift Ideas for Your Husband That He'll Genuinely Love

Los Angeles Times

10 tasks to check off your to-do list to enrich your next vacation

Mens Health

The 32 Best Romantic Valentine's Day Gifts for Her

GearJunkie
January 1, 1970

Emerging Gear: Folding Bike Lock, Smart Drone, and More

BBC

Global Gadgets: Summer 2019 with Lucy Hedges

Good Morning America

Deals and Steals: Must have items to help you go green!

Offering Summary


Company

:

Solgaard Design Inc.

Corporate Address

:

1151 Broadway Suite 3S, New York, NY 10001

Offering Minimum

:

$10,000.00

Offering Maximum

:

$1,070,000.00

Minimum Investment Amount

(per investor)

:

$300.00











Terms


Offering Type

:

Equity

Security Name

:

Class B Non Voting Stock

Minimum Number of Shares Offered

:

5,000

Maximum Number of Shares Offered

:

535,000

Price per Share

:

$2.00

Pre-Money Valuation

:

$24,000,000.00











*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.

Investment Incentives and Bonuses*

All investors will be invited to an owner's club communication channel which will provide company updates, early access to products, and information about new innovations and developments behind the curtain.

Early Investors:

Friends and Family: first 24 hours: 25% bonus shares

SolgaardSquad - next 48 hours: 15% bonus shares

Super Early bird - next 72 hours: 10% bonus shares

Early Bird - next 7 days: 5% bonus shares

Volume Perks:

Tier 1 perk $500 - (Solarbank Boombox)

Tier 2 perk - $1,000 (Limited edition, unreleased “Solgaard Shareholder” engraved watch with Swiss Movement)

Tier 3 perk - $2,500 (Limited edition, unreleased “Solgaard Shareholder” engraved watch with Swiss Movement and Carry-On Closet Suitcase)

Tier 4 perk - $5,000 (Limited edition, unreleased “Solgaard Shareholder” engraved watch with Swiss Movement, Carry-On Closet Suitcase, and Check-In Closet Suitcase + 5% bonus shares)

Tier 5 perk - $10,000 (Limited edition, unreleased “Solgaard Shareholder” engraved watch with Swiss Movement, Carry-On Closet Suitcase, and Check-In Closet Suitcase + 7% bonus shares)

Tier 6 perk - $25,000 (Limited edition, unreleased “Solgaard Shareholder” engraved watch with Swiss Movement, Carry-On Closet Suitcase, and Check-In Closet Suitcase + 10% bonus shares)

*All perks occur when the offering is completed.

Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.

The 10% Bonus for StartEngine Shareholders

Solgaard Design Inc., 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 Class B Common Stock at $2.00/ share, you will receive 110 shares of Class B Common Stock, meaning you'll own 110 shares for $200. 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 cancelled or fail.

Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.

Irregular Use of Proceeds

The Company will not incur any irregular use of proceeds.

Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$1,164,756.00 USD
$209,461.00 USD
Cash And Cash Equivalents
$390,224.00 USD
$35,398.00 USD
Accounts Receivable
$324,540.00 USD
$76,667.00 USD
Short Term Debt
$451,406.00 USD
$268,245.00 USD
Long Term Debt
$1,397,136.00 USD
$150,000.00 USD
Revenues And Sales
$2,981,927.00 USD
$1,078,193.00 USD
Costs Of Goods Sold
$1,374,046.00 USD
$716,555.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
-$475,002.00 USD
-$181,457.00 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. 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. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

Join Adrian this Friday for an update and live Q&A!

1 day ago

Adrian and the Solgaard team invite you to join us this Friday October 30th at 2:30PM EST (11:30AMPST) for a business update and Q&A.

Register below, and submit your questions!

See you Friday! 


For those who cannot join the webinar, the event will be recorded and posted here! 


Register in advance for this webinar:
https://us02web.zoom.us/webinar/register/WN_GixFa6iiT1KZWYnQYzMRIg

After registering, you will receive a confirmation email containing information about joining the webinar.

Formula E World Champion Lucas Di Grassi Invests In Solgaard

4 days ago

Super excited to announce Lucas Di Grassi, Brazilian racing driver for Audi Sport ABT Schaffler, has invested in Solgaard.

Involved in Formula E (motorsport using only electric cars) since day one, Lucas uses his platform to advocate clean energy, climate change, and air pollution awareness.

Really looking forward to what we can accomplish together in cleaning up ocean plastic! Welcome to the  Solgaard Squad Lucas!


Press from Popular Mechanics on our watches!

7 days ago

Distinctive and deliberate in design, our premium hex watch collection harnesses the power of gravitational logic which we call ‘glimpse tech’, allowing for instant and efficient time-telling with our patented hexagonal watch.

Continuing the growth and success of our timepiece portfolio, we’re proud to offer for you - our Startengine Investors - early access to The Transatlantic, a watch made with Swiss Made GMT Movement. We’re making an exclusive colorway that’s custom engraved available exclusively to those who invest $1000 or more. These watches will start shipping in the New Year - the production is getting started now!

See the latest September 2020 coverage on our Series Two Hex Watch, The Milano, in Popular Mechanics

https://www.popularmechanics.com/technology/gear/g19863873/best-cheap-watches/






Notice of Funds Disbursement

11 days ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Solgaard has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Solgaard be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

Lots of activity last week - Production update and new press in Conde Nast!

12 days ago

Have you ever wondered what 20,000 pounds of recycled ocean-bound plastic looks like?

As we’re gearing up for Q4, our factory surprised us last week with images of 20klbs of upcycled material boxed up and ready be used in production of our HomeBase and new Solarbank range. Check out the images below! 

Each box contains two thousand pounds of pellets created from recycled ocean-bound plastic that was collected from beaches and riverways in SE Asia. Thanks to our partnership with Bantam, Ocean-Cycle, and Prevented Ocean Plastic - these items will ship with a QR code saying exactly which area the material came from for each item received!

Additionally, we’re proud to have had our Weekender bag featured in Conde Nast Traveler as one of the 13 best Weekend Bags for every type of trip. Check out what they had to say here:
https://www.cntraveler.com/gallery/best-weekender-bags

Strong finish to Q3 with growth across ecomm and B2B channels!

19 days ago

Now that were officially into the busy Q4 season we’re proud to report we achieved 2.1X growth in our ecomm channel and an 18% increase in our B2B business over LY in Q3.

A few other highlights from Q3 included launching with BestBuy (check us out on bestbuy.com!), launching our first @home product the homebase, and ordering 20 thousand pounds of recycled plastic for upcoming production!

Looking forward to Q4, outside of it being the time for holiday gifting, Q4 is often called “engagement season”. With this in mind, we’re excited to have had our Daypack backpack featured in THE KNOT Magazine Fall 2020 issue.

Excited for what Q4 has in store and crossing the finish line on a few projects we can’t wait to share!



Wow! 299K and an interview with our founder Adrian.

22 days ago

A huge thank you to the StartEngine community for the continued support of the campaign - we’re knocking on the door of $300K!

A new media pick up: As we have launched six kickstarter campaigns raising over 3 million dollars, we get asked, A LOT, about what it takes to run a successful campaign.
Adrian was recently interviewed on this topic – check out his experience with finding factories, tips for creating high tech devices, and considerations for marketing spend for crowdfunding campaigns here:


https://artofthekickstart.com/solgaard-homebase-aotk-323/

Big Weekend! We hit 25% of our goal AND we were featured in Wired!

30 days ago

A huge thank you to everyone who has invested over the last 6 days, we’ve already hit 25% of our goal! We’re grateful for the outpouring of support from the StartEngine Community.

We’re also proud to have had the Carry-On Closet featured in WIRED “The Best Travel Bags for Wherever You’re Headed” over the weekend.

Check out what they had to say here:

 https://www.wired.com/gallery/best-travel-bags-carry-on-luggage/

 

What a great first day - over $100k!

about 1 month ago

Hello Investors,

We are excited to announce we’ve raised over $110K in the first 27 hours of the campaign!

Welcome to all of our new investors - we’re so glad to have you as a part of the team. Please remember to share this opportunity with your friends and family.

Thank you to the StartEngine community for the warm welcome - we're so happy to be a part of this journey with you.

Thanks for investing in the future of sustainability!

-Adrian & The Solgaard Squad

Show More Updates End of Updates

Comments ({{profileCtrl.startup.comments_count}} total)

{{profileCtrl.newComment.body.length}}/2500
Please sign in to post a comment.
{{ profileCtrl.commentsLoading ? 'Loading...' : 'Show More Comments' }}