Totem Labs, a Tennessee-based company building decentralized tools, is raising growth capital on WeFunder.
According to the offering page, Totem has raised $1.14 million from 63+ investors to date.
Investors are getting a SAFE (Simple Agreement for Future Equity) at a $15 million valuation cap. Totem is aiming to raise at least $2 million. The minimum investment is $250, and global investors are welcome. The securities offering is being issued under Reg CF.
Totem is building a product that uses wearable GPS to enable people to locate individuals without depending on cell service, Bluetooth, or wi-fi. Think about looking for a friend at a concert.
The Totem Compass is powered by their Unity Mesh Network, which is described as a peer-to-peer network.
Totem previously raised $1.3 million in a 2024 pre-seed round. The company reports that it has sold over 43,000 devices so far.
Carter Fowler, CEO of Totem, says there is unquestionable value in having a broad community of investors.
“Thanks to WeFunder, the Totem Tribe can finally claim their stake in this future we’ve been building together—one where everyone, everywhere, can feel safe, connected, and fully present in the moments that matter most.”
The Totem revenue model is for software subscriptions, on-site rental programs, etc.
There are perks available for early investors.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!