Netcapital Inc. (Nasdaq: NCPL, NCPLW), an online capital formation marketplace, announced that graphene-licensing technology company, Avadain, raised more than $1.275 million within the first 24 hours of launching its third offering on the Netcapital funding portal platform.
Avadain’s offering is available for a limited time on Netcapital.com.
As mentioned in the update from Netcapital, Avadain is a Tennessee-based company with a globally patented technology “to manufacture the type of graphene that it believes can be used as an additive material in thousands of applications across leading growth industries.”
As covered, Netcapital Inc. is a fintech company with “a scalable technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors.”
The company’s consulting group, Netcapital Advisors, “provides marketing and strategic advice and takes equity positions in select companies.”
As noted in the update from Netcapital, the company’s broker-dealer, Netcapital Securities Inc., “is also registered with the SEC and is a member of FINRA.”
As reported recently, Netcapital Inc. announced financial results for the second quarter of fiscal year 2025 ended October 31, 2024.
Netcapital operates a FINRA-regulated funding portal that can enable firms to raise capital under Reg CF.
Financial Highlights:
- Revenue for the second quarter of fiscal year 2025 was $1.1 million, compared to $1.4 million for the same period in fiscal year 2024.
- Net loss for the second quarter of fiscal year 2025 was $0.8 million, compared to a net loss of $1.2 million for the same period in fiscal year 2024.
- Adjusted EBITDA for the second quarter of fiscal year 2025 was a loss of $0.6 million, compared to a loss of $0.9 million for the same period in fiscal year 2024.
- As of October 31, 2024, the company had cash and cash equivalents of $0.5 million.
Martin Kay, Chief Executive Officer of Netcapital Inc., said:
“We are pleased to report continued progress in our strategic initiatives during the second quarter of fiscal year 2025. Despite a challenging market environment, we have focused on enhancing our digital private capital markets ecosystem, driving operational efficiencies, and positioning the Company for long-term growth. Our efforts to streamline operations and optimize our technology platform have contributed to improved financial metrics compared to the prior year. We remain committed to expanding our offerings and delivering value to our shareholders and partners.”
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