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SnapDNA isn't accepting new investments

SnapDNA’s deadline was September 6, 2023

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Logo of SnapDNA

SnapDNA

Disruptive food-safety biotech saving the global food supply chain over $100B/yr
Food Agtech B2B Subscription Combat Carbon Biotechnology AI & Machine Learning
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$282,384
Raised
408
Investors
Successfully funded and closed on September 6, 2023.
Invest in SnapDNA

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Closed on September 6, 2023. Information may not be up-to-date. Campaign closed on September 6, 2023. Information displayed may not be up-to-date.
Problem Solution Product Traction Customers Biz. model Market Competition Vision and strategy Impact Funding Founders Summary
About Team

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by SnapDNA Corporation. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
SnapDNA Crowd SAFE SnapDNA Form C_A.pdf SnapDNA Form C.pdf
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Hear from some of the 408 investors in SnapDNA


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Highlights


  • Reduces the time for a food pathogen test from 3-7 days to ~1 hour
  • Can save over $100B/yr in operating costs and enable fresher safer food
  • Poised to be the standard in the recession-proof $13B food testing market.
  • Launch-ready with fundamental technical breakthroughs from 10 yrs R&D
  • Technology confirmed in peer-reviewed publication from USDA-ARS (Albany CA)
  • 100% successful paid pilots with PepsiCo and Taylor Farms
  • Projected revenue of $140M in 2025, $370M in 2026

Problem


Time is money for companies with food contaminations

The longer it takes to identify the source of a contamination, the greater the financial exposure

Food companies typically hold product for 3 to 7 days waiting for lab results for pathogens such as Listeria, Salmonella, and E. coli.

A single recall can bankrupt a food company. SnapDNA has quantitative analysis to enable contamination sources to be identified in 1-2 days instead of weeks, months or longer using conventional lab tests.

Solution


Rapid testing means fresher, safer food — faster

SnapDNA can perform the same analysis in as little as 1 hour, saving billions of dollars a year in operational costs and reducing the risk from outbreaks.

Product


SnapDNA:
Superior on-site food testing with AI-driven analytics

Holding product results in huge costs from storage, material handling, labor and inventory dwell time. For example, $30M of SnapDNA rapid testing can save the top 10 poultry processors $1.2B per year in storage-related costs.

We solve business-critical problems by streamlining the supply chain, increasing company margins, and reducing the financial exposure from recalls.

Our instruments are cellular-connected to the SnapDNA cloud, powering sector-specific, predictive analytics to enable, for the first time, a proactive approach to reducing contamination.

SnapDNA is superior to every other test at every scale, and is the only rapid test that meets every requirement to replace lab testing.

Traction


SnapDNA is
ready to launch



—
Preferred food testing platform
for the USDA Agricultural Research Service (ARS)
—

—
Revenue projections
—

Customers


100% success rate in
paid pilot studies

—
Customer evaluation requests
—

Business model


Commercial-ready prototype system with strong returns


We are looking to fund product launch — not research or development.

We intend to offer a menu of single-use test cartridges for use in the SnapDNA system. These include tests for additional food pathogens, spoilage agents (yeast and mold) and allergens, with cartridges capable of analyzing multiple targets at a time.

Market


$13B recession-proof
market with 8% CAGR

Food pathogen testing is an existing recession-proof, $13B market growing at over 8% CAGR. There are over 100 million food pathogen tests per year in the US, with nearly half a billion tests per year worldwide.

Competition


SnapDNA meets every industry requirement

We use a unique new approach to DNA analysis, 10 years in development. All core IP developed in-house with multiple patents/applications, creating a barrier to imitation.

Vision and strategy


Solving global food safety

Our pilots speak for themselves. PepsiCo and Taylor Farms are among the companies that believe in us — because we meet every requirement for point-of-need testing, and we solve business-critical problems.

We have ESG-friendly, commercial ready products made in the USA: an automated diagnostic instrument and low-cost cartridge-based consumables that can be used almost anywhere by almost anyone.

This is a highly multiplexed diagnostic platform with wide applicability in food safety, clinical diagnostics, animal health, water testing and cannabis.

As the number of tests on our platform increases, we intend to offer predictive analytics to enable a proactive approach to contaminations and diseases (instead of a reactionary approach).

—
Exit strategy
—

SnapDNA is poised to revolutionize DNA diagnostics for food testing, water testing, animal health, and clinical diagnostics, providing the potential for a massive exit opportunity.

The company is a target for large life science companies that typically grow through acquisition and pay a premium for platform technologies.

For life science companies that have a large presence in food testing, its value is amplified further because it protects and expands their dominance.

SnapDNA has already caught the attention of some of these companies.

Impact


The cooling industry accounts for around 10% of global CO2 emissions. That is three times the amount produced by aviation and shipping combined.

Virtually all of the 3 billion cubic feet of cold-storage warehouses in the US is used for food.  SnapDNA is leading the change to reduce the environmental impact of those storage facilities, which includes greenhouse gases and toxins from the refrigerants and CO2 from the energy usage.

SnapDNA can also help reduce food waste by enabling fresher food for consumers.

Additionally, SnapDNA benefits from a highly diverse workforce.

Summary


10 years ago, food company leadership told SnapDNA the industry desperately needed a 2-hour pathogen test that could replace lab testing. Hundreds of millions of dollars had been invested, but no one had come remotely close.

SnapDNA successfully developed that test. It meets every requirement to replace lab testing including detection of only live, viable cells, and it can be used almost anywhere by almost anyone.  Unlike lab tests, the results are quantitative - critical information when tracing a contamination or determining the severity of a positive result.

SnapDNA’s customer waiting list includes some of the largest food companies in the world, some of the largest food contract labs and some of the largest lab suppliers.

We have commercial-ready products made in the USA.  We are installing equipment for mass production and targeting first sales later this year. 

Food safety is an existing $13B, recession-proof market.  The cost savings we provide make us highly valuable in any economy. Inflation, supply chain challenges and weather have devastated margins for many food companies this year. SnapDNA can restore those margins and reduce the risk and exposure from outbreaks and potentially reverse some of the recent increases in food prices.

SnapDNA can reduce the environmental impact of cold storage and enable fresher, safter food for everyone.

Deal terms


Valuation cap

$40,000,000

The maximum valuation at which your investment converts into equity shares or cash.
Learn more

Minimum investment

$150

The smallest investment amount that SnapDNA is accepting.
Learn more

Maximum investment

$100,000

The largest investment amount that SnapDNA is accepting.
Learn more

Funding goal

$618K

The maximum amount the offering can raise is $618K.
Learn more

Deadline
SnapDNA needs to reach their minimum funding goal before the deadline ( ). If they don’t, all investments will be refunded.
Learn more
Type of security

Crowd SAFE

A SAFE allows an investor to make a cash investment in a company, with rights to receive certain company stock at a later date, in connection with a specific event. · Learn more

Nominee Lead

Chief Executive Officer of the Company (currently David Medin)

Will direct the Nominee on certain matters like voting, amendments and conversions affecting the security.
Learn more

How it works

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by SnapDNA Corporation. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
SnapDNA Crowd SAFE SnapDNA Form C_A.pdf SnapDNA Form C.pdf

Bonus perks

In addition to your Crowd SAFE, you'll receive perks for investing in SnapDNA.
Invest
$150
Receive
  • Annual email updates
Invest
$500
Receive
  • Personalized SnapDNA Certificate of Appreciation signed by the SnapDNA founders (US & Canada only)
  • Semi-annual email updates
Invest
$1,000
Receive
  • Previous perks
  • Quarterly investor updates and choice of laser engraved 22 oz stainless steel wide-mouth insulated bottle or embroidered baseball cap with SnapDNA logo (US & Canada only)
Invest
$2,500
Receive
  • Previous perks
  • A SnapDNA serialized and signed cartridge in a clear case, starting at serial number 001 with a Certificate of Authenticity. The highest investor amount gets the lowest serial number. If multiple people invest the same amount, the investor with the earlier investment date will get the smaller number (US & Canada only)
Invest
$5,000
Receive
  • Previous perks
  • 1:1 video call with the founding team

About SnapDNA

Legal Name
SnapDNA Corporation
Founded
Apr 2011
Form
Delaware Corporation
Employees
4
Website
snapdna.com
Social Media
Headquarters
Google Map location of of SnapDNA
2095 West 6th Avenue 100 , Broomfield, CO
Headquarters
2095 West 6th Avenue, 100, Broomfield, CO, United States 80020

SnapDNA Team
Everyone helping build SnapDNA, not limited to employees

Profile picture of David Medin
David Medin
CEO
30 yrs executive & C-level experience in corp dev, marketing, and product design in both private and public technology companies. Managed large global engineering and product teams
Profile picture of Mark Nelson
Mark Nelson
Board Member
SnapDNA - Board Member: January 2022. Former Beyond Meat CFO and COO 12/2015-5/2021.
Profile picture of Tom Jacobs
Tom Jacobs
Sales
25 years food industry sales leadership. Responsible for >$500M in industry sales
Profile picture of Veronica  DeGuzman Ph.D
Veronica DeGuzman Ph.D
Molecular Biology
25 yrs expertise in DNA-sensing, molecular biology and formulation. Built and managed teams for pilot scale manufacturing, physical and chemical characterization of consumables
Profile picture of Gabriel Matus
Gabriel Matus
Material Science
20 yrs experience. Designed processes used in $11B of semiconductor equipment.
Profile picture of Zeal Panchal
Zeal Panchal
Scientist
NASA-Ames
3 more team members
David Medin
CEO
Mark Nelson
Board Member
Tom Jacobs
Sales
Veronica DeGuzman Ph.D
Molecular Biology
Gabriel Matus
Material Science
Zeal Panchal
Scientist
Logo of SnapDNA

SnapDNA

SnapDNA successfully raised $282,385 from 408 investors on September 6, 2023
Profile picture of Adam Sampson, DMSc
Profile picture of Draven Pike
Profile picture of TAKATOSHI ISHII
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Adam, Draven, TAKATOSHI, M J, Joseph, and 403 others invested. 30 Reviews
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