Introduction
Mariposa Technology provides a cutting edge service to hemp farmers. Through the use of our handheld Raman spectrometer, our technology can provide hemp farmers with vital, analytical information about their crops. Once the data on a specific hemp variety is logged in our Raman spectroscopy database, farmers can optimize their harvest with unprecedented access to daily crop test readings.
Problem
Iowa’s Department of Agriculture reported that roughly 13% of Iowa farmers’ hemp fields had to be fully or partially destroyed in 2020. According to Don Robison, seed administrator with the Office of Indiana State Chemists, nearly 20% of Indiana’s hemp crop was destroyed last year due to high THC levels. Recently, an Oklahoma facility was forced to destroy an estimated $7-$10 million in hemp as THC levels were once again exceeding the legal limit.
Can you imagine making a significant investment of both time and money into cultivating a crop with dreams of guaranteed profits, only to be told at harvest that you have to burn it all to the ground?
The legal limit of total-THC in hemp is 0.3% (3/10 of 1%) and any amount over that limit requires the crop to be destroyed. For the tens of thousands of hemp farmers in the U.S., this is the unfortunate reality for up to 25% of their crop each year. This is happening in every state across the country, to large and small farmers alike.
Pain points in the hemp testing process include:
- Sample collection (handler) site visit fees
- Lab testing fee
- Lab result wait times
- Lost profit opportunity
Solution
Raman Spectroscopy
The Raman Effect was originally discovered by renowned Indian physicist Sir Chandrasekhara Venkata Raman, who was awarded the Nobel prize in physics for his discovery. A Raman spectra provides a structural "finger print" of molecular composition by which molecules can be identified and studied.
Mariposa Technologies, through an exclusive agreement with AgriLife Research and the Kurouski Laboratory of Texas A&M University, has further developed a testing protocol utilized by an on-site, handheld Raman spectrometer that references an AI database for the testing of live hemp plants.
- Fully transferable
- $2,500 upfront cost + $250/acre
- Limited training time (20-30 minutes)
- Requires only a computer + internet
- Less prone to user error than other testing protocols
- Zero sample preparation required
- Results in 30-60 seconds
- Proven to work in other agricultural crops
Our proprietary algorithms continuously update our database with every additional scan performed, using AI to compete with other comparable solutions in the world of agriculture today.
Competitors
Orange Photonics LightLab
- $14,300 upfront + $5/test + $1,080 annual calibration fee
- Many hours of training
- Highly prone to user error
- Requires hours of sample preparation
- Requires solvents, chemicals, and other consumables
- Results in 10.5 minutes, post-preparation
Ionization Labs Cann-ID
- $7,500 upfront + $25/test + $2,500 monthly subscription fee
- Multiple days of training
- Highly prone to user error
- Requires hours of sample preparation
- Requires solvents, chemicals, and other consumables
- Results in 30 minutes, post-preparation
Mariposa Technology is working to deliver an affordable, accurate, and easy-to-use handheld device to farmers and growers, paired with our proprietary database to ensure crops are optimized and staying within the legal total-THC limits.
Business Model
SaaS/TaaS Subscription Model
Mariposa Technology plans to rent farmers a self-operated digital farming tool, requiring less than thirty minutes of training prior to use. Along with our tool rental, we plan to offer subscriptions to our digital database of reference test results. Farmers typically invest tens of thousands of dollars per acre on:
- Seeds
- Equipment
- Water
- Labor
- Lab testing
We can help protect those investments by providing the unprecedented ability to monitor the crop for an estimated 2% of the farmer’s overall costs. With 500,000+ acres of hemp licensed in 2020 alone, and our unique fee-per-acre pricing model, the potential revenue opportunity is immense - not only in the U.S. but around the globe.
We are also pursuing the opportunity to form strategic laboratory partnerships across the country. Partnerships will enable labs to offer new services to their existing customer base. Our proprietary database can be complementary to existing business models, allowing labs to stay on the cutting edge of testing technology.
Market
Hemp farming is quickly growing in popularity, not only in the U.S., but around the world. Farmers are turning to hemp to capitalize on the huge potential financial opportunity that is currently presented, and continually growing. Due to its commercial versatility - with thousands upon thousands of known uses - and its unmatched benefits as a rotational crop, hemp has been considered by many to be “the king of crops.”
Mariposa Technology provides an increasingly important service to assist hemp growers in complying with strict potency guidelines and basic quality standards.
- Grand View Research projects the market value for the global hemp industry to grow by 15.8% between 2020-2027. Global revenues for CBD (derived from hemp) alone are projected to increase from $9.3 billion to $23.6 billion in 2025.
Success to Date
- Executed Agreement with Texas A&M University, Agrilife Research and Kurouski Labs to complete R&D.
- Initial scans at various hemp farms across the country has commenced.
- Contacted hundreds of hemp farmers across multiple states with visits being scheduled and data agreements underway.
- Assembled a diverse, committed founding team of scientists, executives, experts and advisors.
- Corporation built for IRS section 1202 Small Business Stock Gains Exclusion and resaleable Louisiana Angel Investor tax credits of 35%.
- Located in an Opportunity Tax-Zone for additional tax advantages.
- Approved by the NSF for a SBIR Stage One non-dilutive grant application, worth up to $256,000 for the commercialization of our service.
Press
Team
John is a graduate from Tulane University, earning a BA in History. A proven team leader with 20+ years experience developing diverse team members and guiding multiple teams to success. Managed teams which at times exceeded 100 co-workers, while developing supervisor and management talent internally. A strong leader who listens and works collaboratively with all team members.
Mickal is an experienced Counsel and Manager with a history of leading teams, handling legal and executive functions, and with hands-on experience in product design and development, manufacturing and importing, retail, marketing and e-commerce. 1993 graduate from Tulane University Law School.
Michael is an entrepreneur, teacher, designer and small business advisor. Co-Founder of GoodWood, an award-winning design and fabrication firm specializing in commercial design + build, architectural millwork and fabrication, and custom furniture. An Adjunct Lecturer at Tulane University School of Architecture. 2013 Tulane University graduate.
Dr. Jim is a published research scientist with over 20 years of laboratory experience in plant biology, calcium signaling, and defense responses. He also served as the director for a National Science Foundation program in workforce development to train biotechnology technicians.
Use of Proceeds
If the offering's maximum amount of $1,070,000 is raised:
Use | Value | % of Proceeds |
---|---|---|
Compensation for Scientists & Data & Operations | $270,000 | 25.2% |
Technical Research and Development | $312,570 | 29.2% |
RS Devices | $335,000 | 31.3% |
Travel to Farms/Growers | $22,000 | 2.1% |
Professional Services | $56,500 | 5.3% |
Rent | $21,500 | 2.0% |
Intermediary fees | $52,430 | 4.9% |
Terms
This number includes all funds raised by the Company in this round on Netcapital. This is an offering of Class C, under registration exemption 4(a)(6), in Mariposa Technology, Inc./LA. This offering must reach its target of at least $10,000 by its offering deadline of February 24, 2022 at 10:58pm ET. If this offering does not reach its target by the offering deadline, then your money will be refunded.
If the offering is successful at raising the maximum amount, then the company’s implied valuation after the offering (sometimes called its post-money valuation) will be:
Financials
These financial statements have been reviewed by an independent Certified Public Accountant.
SEC Filings
The Offering Statement is a formal description of the company and this transaction. It’s filed with the SEC to comply with the requirements of exemption 4(a)(6) of the Securities Act of 1933.
We’re also required to share links to each of the SEC filings related to this offering with investors.
Understand the Risks
Be sure to understand the risks of this type of investment. No regulatory body (not the SEC, not any state regulator) has passed upon the merits of or given its approval to the securities, the terms of the offering, or the accuracy or completeness of any offering materials or information posted herein. That’s typical for Regulation CF offerings like this one.
Neither Netcapital nor any of its directors, officers, employees, representatives, affiliates, or agents shall have any liability whatsoever arising from any error or incompleteness of fact or opinion in, or lack of care in the preparation or publication of, the materials and communication herein or the terms or valuation of any securities offering.
The information contained herein includes forward-looking statements. These statements relate to future events or to future financial performance, and involve known and unknown risks, uncertainties, and other factors, that may cause actual results to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties, and other factors, which are, in some cases, beyond the company’s control and which could, and likely will, materially affect actual results, levels of activity, performance, or achievements. Any forward-looking statement reflects the current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to operations, results of operations, growth strategy, and liquidity. No obligation exists to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
More Info
Updates
- Sep 30, 2024Team Mariposa, Thank you for your ongoing...
- Apr 18, 2024Team Mariposa, Our long-awaited hardware...
- Mar 18, 2024Hello Team Mariposa! We have just received...
- Dec 19, 2023This year has been filled with big milestones...
- Nov 1, 2023Hello Team Mariposa! Our executive team has...
- Jul 31, 2023Hello Team Mariposa! We're excited to announce...
- Mar 16, 2023Mariposa Technology is excited to announce a...
- Dec 29, 2022Mariposa Technology is excited to formally...
- Jun 2, 2022The team at Mariposa Technology has been...
- Mar 29, 2022It has been just over a month since our very...
- Feb 25, 2022Primary offering finalized, sellingshares
- Feb 22, 2022JUST 6 HOURS LEFT TO INVEST IN MARIPOSA...
- Feb 22, 2022Only 10 short hours remain to invest in our...
- Feb 22, 2022Just under 14 hours left until we close our...
- Feb 22, 2022Barely 30 hours remain, and the clock is...
- Feb 22, 2022Only 34 hours left until we close our raise!...
- Feb 22, 2022Just under 38 hours left to make your...
- Feb 17, 2022The executive team is excited to announce two...
- Feb 14, 2022The executive team is excited to announce two...
- Feb 10, 2022The executive team is excited to announce two...
- Feb 7, 2022The executive team is excited to announce two...
- Jan 30, 2022The executive team is excited to announce two...
- Jan 19, 2022The executive team is excited to announce two...
- Jan 17, 2022The executive team is excited to announce two...
- Jan 13, 2022The executive team is excited to announce two...
- Jan 10, 2022The executive team is excited to announce the...
- Dec 28, 2021As 2021 comes to a close, Mariposa Technology...
- Dec 23, 2021We are pleased to announce that we have reached...
- Dec 13, 2021Mariposa Technology would like to share some...
- Dec 1, 2021We are pleased to announce the latest round of...
- Nov 23, 2021Team Mariposa Technology wishes each of you a...
- Nov 20, 2021Thank You! Thank You! Thank You! We've...
- Nov 17, 2021We've extended our offering by 30 days! We...
- Nov 16, 2021Are you in? Don't miss out on the opportunity...
- Nov 3, 2021News of a great initial hemp crop report from...
- Oct 23, 2021After sparking interest among school scientists...
- Oct 15, 2021Mariposa Technology would like to announce a...
- Oct 4, 2021Mariposa Technology is excited to announce our...
- Sep 30, 2021Great news! We'd like to announce Brett Long...
- Sep 24, 2021We're excited to be listed on Kingscrowd's New...
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