{"data":{"type":"company_profile","id":80745,"entity_id":"wefunder:company:80745","attributes":{"canonical_url":"https://wefunder.com/ccombinator","generated_at":"2026-06-19T05:33:52Z","updated_at":"2026-06-19T05:00:31Z","entity_ids":{"company":"wefunder:company:80745","slug":"wefunder:company_slug:ccombinator"},"profile_visibility":{"owner_published":true,"public_search_results":true,"site_search_listed":true,"privacy_mode":"promote","invite_only":false},"provenance":{"source":"wefunder_public_company_profile","as_of":"2026-06-19T05:33:52Z","claims":{"total_amount_raised":{"source":"FrontCompanySummary#amount_raised","last_verified_at":"2026-06-19T05:00:31Z","as_of":"2026-06-19T05:33:52Z","confidence":"high"},"total_investors":{"source":"FrontCompanySummary#number_of_investors","last_verified_at":"2026-06-19T05:00:31Z","as_of":"2026-06-19T05:33:52Z","confidence":"high"},"active_raise_states":{"source":"Fundraise.visible(nil, nil)","last_verified_at":"2025-09-30T15:45:09Z","as_of":"2026-06-19T05:33:52Z","confidence":"high"},"latest_fundraise_state":{"source":"Fundraise.visible(nil, nil).order(funding_started_at)","last_verified_at":"2025-09-30T15:45:09Z","as_of":"2026-06-19T05:33:52Z","confidence":"medium"}}},"company":{"id":80745,"entity_id":"wefunder:company:80745","slug":"ccombinator","name":"C-Combinator","tagline":"TURNING THE PLANET'S LARGEST SEAWEED BLOOM INTO HIGH-VALUE PRODUCTS","elevator_pitch":"We are the only company using the largest seaweed bloom on the plant to create leather, cosmetics inputs, and agricultural solutions for the world at large scale. Our 60-70% margin products are made from carbon taken out of the air an ocean by the seaweed and never degrade into microplastics. The ocean is handing us 10s of millions of tonnes of biomass that now just rots, releasing methane and harming tourism. We are the first to figure out how to make these valuable products from it.","story":"Our MissionWe’re one of the few global companies researching and developing plant-based materials from the most common tropical brown seaweed, Sargassum, and the only one with an integrated mass collection network and cascading processing operation in key points of the biggest Sargassum bloom, the Atlantic Sargassum Belt. This means huge scale and impact: capable of supplying to a global economy hungry for raw materials that are carbon neutral, non-toxic, and marine biodegradable. The end result: stronger and low-carbon economies.We’ve developed a proprietary model for a ‘cascading’ biorefinery, which means we’ve engineered each step of our production sequence to create products and derivatives with minimal waste, energy use, or additional effort – hence the cascade to create a range of products for agriculture, textiles, personal care and cosmetics. This wide variety of raw materials and products for agriculture, textiles, personal care and cosmetics crafted from excess seaweed waste allows for us to touch a vast range of markets and partner with recognizable companies to deliver high quality products you may soon find in your own home. The positive environmental impact of our biodegradable and carbon neutral products includes happen to be biodegradable and carbon neutral actually help reduce and offset emissions from fossil fuels and traditional plastics non-recyclable materials, while minimizing waste. Our ProductsThere is an increasing quantity of this valuable resource literally laying on beaches or taken to rot in landfills, and C-Combinator is the one who has figured out how to take the Sargassum and make valuable products out of it. We have been working with local governments and resorts to form contracts where they actually pay us to remove the Sargassum. It's a tremendous advantage to have a company built on a near-zero cost of goods, and we are looking at incredibly high margins of up to 70%. We have generated to $80,000 since mid-March 2021 launch, securing our negative raw material cost.\u0026nbsp;Our Team\u0026nbsp; As a company leading the way in the next-generation sustainable economy, we’ve assembled a global team of experts representing the United States, Puerto Rico, Mexico, Germany, and more. It is through our team's multi-disciplinary expertise that we are able to understand the scope of the Sargassum emergency, the role humanity plays in creating it, and how we can harness the power of this brown seaweed to close the circular economy and benefit communities around the world, starting in the Atlantic and Caribbean. INVESTORS Current Investors: City Light – Has invested in 2U (NASDAQ: TWOU), Koru (acquired by Cappfinity), Envoy (raised $88 million to date); and OhmConnect (raised $100 million to date) Incite Ventures – Fund started by Swati Mylavarapu and Matt Rogers, one of the first engineers on the original iPhone and involved in the development of 5 iPhones and the first iPad. As co-founder of Nest, Matt built the team that built the first learning thermostat and the leading connected home brand. Baruch Future Ventures – Has invested in Geltor (raised $91.3 million to date); Relativity Space (raised $500 million to date); and Menlo Security ($800 million valuation, raised $250 million to date) If you've ever felt hopeless or\u0026nbsp;were unsure where we are headed as a planet, this is a distinct solution that can scale now and make a big difference for climate, for the circular economy, and for the next generation.Please help us do something that has never been done before.\u0026nbsp;","location":"Boston, MA","website":"https://www.c-combinator.com","total_amount_raised":331247,"total_investors":353,"is_funded":true,"is_active":true,"quality_score":5,"related_urls":["https://wefunder.com/ccombinator","https://www.c-combinator.com"]},"media":{"share_image_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/80745/xxl_cropped_CoverArtV2.jpg","logo_url":"https://uploads.wefunder.com/uploads/company/logo/80745/large_cropped_C-Comb_Logo_Transparent_900pxSquare.png","header_media_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/80745/standard_cropped_CoverArtV2.jpg","cover_photo_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/80745/standard_cropped_CoverArtV2.jpg","profile_video_url":"https://wefunder.wistia.com/medias/frq36uel3w"},"links":{"company_url":"https://www.c-combinator.com"},"highlights":[],"quick_facts":[{"index":1,"claim_id":"claim-fact-1","value":"Up to 70% margins due to close to zero acquisition costs for seaweed. We get paid to collect it."},{"index":2,"claim_id":"claim-fact-2","value":"Every product draws down carbon from the atmosphere and will never degrade into microplastics."},{"index":3,"claim_id":"claim-fact-3","value":"Filed intellectual property on extraction methods used to create products worth $30 - $500/kg."},{"index":4,"claim_id":"claim-fact-4","value":"Generated $50K of revenue in June alone from collections."},{"index":5,"claim_id":"claim-fact-5","value":"Our biostimulant increases crop yields by 15-40%, which is higher than others and we now have LOIs."},{"index":6,"claim_id":"claim-fact-6","value":"A strategic partner has already committed to investing $5M in our Series A and B."},{"index":7,"claim_id":"claim-fact-7","value":"Wefunder investors will receive a 15% discount on our Series A valuation."},{"index":8,"claim_id":"claim-fact-8","value":"Climate Change: We prevent the seaweed from rotting and emitting methane and make low carbon goods!"}],"team":[{"id":1509411,"entity_id":"wefunder:company_role:1509411","user_entity_id":"wefunder:user:1379270","role":"founder","name":"Geoff Chapin","title":"Chief Executive Officer","bio":"Former Bain Consultant and MIT business school alum who is a veteran company builder in the green economy. Past experience starting and leading businesses in the home energy efficiency, and solar space, as well as low energy desalination.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/1509411/square_cropped_Geoff_Headshot.jpg?1625667516","profile_url":"https://wefunder.com/geoff.chapin","linkedin_url":"https://www.linkedin.com/in/geoff-chapin-98a186164/","related_urls":["https://wefunder.com/geoff.chapin"]},{"id":1509499,"entity_id":"wefunder:company_role:1509499","user_entity_id":"wefunder:user:1384203","role":"founder","name":"Ben Ellis","title":"Chief Financial Officer","bio":"Former SVP at water treatment company that developed a more energy efficient reverse osmosis process. Portfolio manager responsible for over $5B in assets. Public and private equity analyst covering the technology, industrial and energy sectors.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/1509499/square_cropped_Ben.jpg?1625667393","profile_url":"https://wefunder.com/benellis","linkedin_url":"https://www.linkedin.com/in/ben-ellis-cfa-221aba8/","related_urls":["https://wefunder.com/benellis"]},{"id":1763214,"entity_id":"wefunder:company_role:1763214","user_entity_id":"wefunder:user:1452348","role":"employee","name":"Jason Cole","title":"Senior VP of Innovation","bio":"Experienced technology leader and speaker in the field of educational technology and environmental systems.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/1763214/square_cropped_Jason_Profile.jpg?1622585874","profile_url":"https://wefunder.com/jason.cole.2","linkedin_url":"https://www.linkedin.com/in/jasonrcole/","related_urls":["https://wefunder.com/jason.cole.2"]},{"id":1763223,"entity_id":"wefunder:company_role:1763223","role":"employee","name":"Ben Jelen","title":"Director of Research and Development ","bio":"Published scholar, researcher and speaker on the evolution of microbial electron transfer, the foundation of biological carbon fixation and sequestration.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/1763223/square_cropped_BenJelen.jpg?1622586314","linkedin_url":"https://www.linkedin.com/in/benjaminjelen/","related_urls":[]},{"id":1793240,"entity_id":"wefunder:company_role:1793240","role":"employee","name":"Taili Thula","title":"Materials Scientist, Alginates and Encapsulation","bio":"Expertise in drug delivery systems and bone regeneration scaffolds, with over 15 years of experience working with biomaterials and tissue cultures.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/1793240/square_cropped_taili_thula.jpg?1622587455","linkedin_url":"https://www.linkedin.com/in/taili-thula-ba938113/","related_urls":[]},{"id":1763224,"entity_id":"wefunder:company_role:1763224","role":"employee","name":"Allen McGonagill","title":"Executive VP of Strategy ","bio":"Former Head of Strategy at Purple Carrot acquired by Oisix Ra Daichi) \u0026amp; co-founder of Relay Power , a community solar company that created 50%+ ROI for investors within 1st year.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/1763224/square_cropped_Allen_McGonagill.jpg?1622586579","linkedin_url":"https://www.linkedin.com/in/allen-mcgonagill/","related_urls":[]},{"id":1763219,"entity_id":"wefunder:company_role:1763219","user_entity_id":"wefunder:user:1452412","role":"employee","name":"John Paul Doughty","title":"VP of Business Development ","bio":"Co-founder of Current Vehicles, pioneer in Bermuda’s electric rental vehicle market.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/1763219/square_cropped_JohnPaulDoguhty.jpg?1622586576","profile_url":"https://wefunder.com/johnpaul.doughty.","linkedin_url":"https:/www.linkedin.com/in/john-paul-doughty-65b111a3/","related_urls":["https://wefunder.com/johnpaul.doughty."]},{"id":1765399,"entity_id":"wefunder:company_role:1765399","user_entity_id":"wefunder:user:1379537","role":"employee","name":"Jorge Vega Matos","title":"VP of Marketing, Communications, and Pu","bio":"Over 10 years experience in strategy for companies like Samsung, Spotify, and Diageo; Co-founder of Coliga, a startup offering infrastructure for future work collectives.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/1765399/square_cropped_jorge.jpg?1622586574","profile_url":"https://wefunder.com/jorgevegamatos","linkedin_url":"https://www.linkedin.com/in/jorgevegamatos/","related_urls":["https://wefunder.com/jorgevegamatos"]},{"id":1876641,"entity_id":"wefunder:company_role:1876641","user_entity_id":"wefunder:user:1490180","role":"employee","name":"Jon Wettack","title":"Director of Operations","bio":"Founder, RepTele Communications. Sargassum Project Volunteer at the Climate Foundation. Medical Device Sales Leader National Park Ranger","avatar_url":"http://uploads.wefunder.com/uploads/user/avatar/1490180/large_cropped_IMG_4238.jpg?1625578244","profile_url":"https://wefunder.com/jonwettack","related_urls":["https://wefunder.com/jonwettack"]}],"featured_investors":[{"id":5475,"entity_id":"wefunder:company_investor_profile:5475","investor_profile_id":1005177,"investor_profile_entity_id":"wefunder:investor_profile:1005177","subject_entity_id":"wefunder:user:1479266","name":"Jason Holt","avatar_url":"http://uploads.wefunder.com/uploads/user/avatar/1479266/medium_cropped_Color_LogoMark.72.jpg","profile_url":"https://wefunder.com/bfv","investment_total":251000,"investment_info":"Invested $1,000 this round \u0026 $250,000 previously","is_lead_investor":true,"related_urls":["https://wefunder.com/bfv"]}],"investor_memos":[],"tab_counts":{"posts":0,"ask_questions":25,"featured_investors":1,"faq_entries":5},"active_fundraises":[{"id":43167,"entity_id":"wefunder:fundraise:43167","state":"successful","offering_type":"4(a)(6)","funding_type":"note","structure":"convertible_note","security_type":"debt","currency":"USD","testing_the_waters":false,"min_purchase":100,"max_purchase":9,"funding_target":100000.0,"funding_started_at":"2021-07-02T19:17:32Z","funding_closed_at":"2021-09-01T05:05:00Z","auto_close_at":"2021-09-01T03:59:59Z"},{"id":43168,"entity_id":"wefunder:fundraise:43168","state":"successful","offering_type":"4(a)(6)","funding_type":"note","structure":"ttw","security_type":"debt","currency":"USD","testing_the_waters":true,"min_purchase":100,"max_purchase":9,"funding_target":100000.0,"funding_started_at":"2021-04-16T20:23:29Z"}],"latest_fundraise":{"id":43167,"entity_id":"wefunder:fundraise:43167","state":"successful","offering_type":"4(a)(6)","structure":"convertible_note","testing_the_waters":false,"can_invest_now":false,"funding_started_at":"2021-07-02T19:17:32Z","funding_closed_at":"2021-09-01T05:05:00Z","terms":{"eb":null,"nb":"$29M","txt":"valuation cap"}},"recent_posts":[],"q_and_a":[{"id":157980,"entity_id":"wefunder:comment:157980","question":"Hi, I love what you are doing and will root for you no matter what, but as a potential investor I have questions. 1. You could be tremendously successful but that may not lead to a return for investors coming in at a 29M cap. I see your answer to John below and it's really interesting but I don't understand the mechanics - if you sell a division do you retain the IP behind the creation of that product, do you remain the supplier of raw material, and are you reasonably sure profits from the sale would go to investors and not back into the company? 2. Can you say more about your IP - how broad is it, and what barriers does it place on others trying to do the same thing? 3. This may be a silly question, but how portable are your collection sites - if ocean currents changed or the supply of seaweed otherwise moved, would it be easy for you to move things? 4. Finally, it looks like you may need to get to your series A somewhat soon, and unless I am misreading or misunderstanding you have an investor committed to investing a lot at a 15M cap - why is a down round good news for those investing at a 29M cap here. Thanks!","author_name":"Alan Jacobson","votes":5,"created_at":"2021-07-14T13:14:31Z","canonical_url":"https://wefunder.com/ccombinator#question-157980","answers":[{"id":158092,"entity_id":"wefunder:comment:158092","answer":"Hi Alan, Thank you for your questions and for the support you have shown so many companies on here. I hope these answers are helpful: 1) Our convertible notes technically have a cap of $29M but that was an investor that requested that number. Our Series A round will be at $15M, we tried to clarify that but the cap needs to be published on here. $15M is the pre-money into which we anticipate these notes converting, and at a 15% discount. This answer also relates to question 4, it's not a down round, it's a valuation that came in below what one early investor asked for as a cap on the note. We never transacted anything at $29M. As for IP if we sell a division, we would retain the IP and the buyer might purchase licensee rights. Profits could go to investors, or we could put some back into the company, I was just listing options there. We do aim to get investors a great return and will evaluate all means and sale offers. 2) Our IP is around the way in which we extract alginate from sargassum, as well as how we process it and turn it into products. Our products are also patentable. We have a good deal of trade secret processes, some of which we are filing. 3) Not a silly question, it's a good one. A drastic change in the ocean currents is highly unlikely, Mexico is indeed the backstop of the sargassum's journey from east to west, but we are also building a network of collection nodes around the Caribbean (two islands in particular) in conjunction with a strategic partner of ours. We are licensing our processing methodology to them and they will send us the pulp to go through our proprietary processing facility. Setting up multiple collection nodes diversifies our supply chain and protects us should this very unlikely event happen. Hope this helps and please let us know if we can answer any other questions. Thank you!","author_name":"Geoff Chapin","votes":4,"created_at":"2021-07-14T20:57:57Z"}]},{"id":158473,"entity_id":"wefunder:comment:158473","question":"Thanks again Geoff, that all makes sense and sounds good. The valuation answer in particular was helpful - having read everything more carefully I can see that you did make it clear that the Series A is next and soon. 15M seems fair and reasonable!","author_name":"Alan Jacobson","votes":2,"created_at":"2021-07-16T17:51:08Z","canonical_url":"https://wefunder.com/ccombinator#question-158473","answers":[]},{"id":158360,"entity_id":"wefunder:comment:158360","question":"Alginate extraction has been a commercial process for \u0026gt;80 years. I understand you can't give too much detail, but what makes your IP investment-worthy? Is it more efficient? Is the market just larger now allowing for more competition? Is the processing of alginate the differentiator? Thanks!","author_name":"Mark Laffoon","votes":2,"created_at":"2021-07-15T22:42:00Z","canonical_url":"https://wefunder.com/ccombinator#question-158360","answers":[{"id":158781,"entity_id":"wefunder:comment:158781","answer":"Hi Mark, Thanks for the question. We are unique in our process and products, but also that sargassum is our feedstock (known to have lower quality and yield of alginate). Our process for extraction is differentiated that we can maximize the yield and produce high-value products (emulsifiers for cosmetics and vegan leather, for example). We are not seeing very high growth in the alginate market. Most of the supply comes from brown seaweeds that require expensive farms, limiting the investment in market and product development. Thanks for the interest. Ben","author_name":"Ben Ellis","votes":0,"created_at":"2021-07-19T14:37:36Z"}]},{"id":290822,"entity_id":"wefunder:comment:290822","question":"Hello! No news or updates ? Can you provide the investors with some news Regards Richard","author_name":"Richard Clement","votes":1,"created_at":"2024-08-20T21:13:27Z","canonical_url":"https://wefunder.com/ccombinator#question-290822","answers":[]},{"id":158574,"entity_id":"wefunder:comment:158574","question":"Hello, I like 99% of what you are doing, except one thing - why your SEC filing, your deal terms, and your agreement show a $29M valuation cap for conversion of these notes, but you are talking about some $15M cap and $29M ceiling? I would totally understand if you would issue now convertible notes at a $15M valuation like every other company does to incentivize early investors, and then do at a later date the series A at a $29M valuation, so the early note investors receive double the number of shares as the later series A investors. Sorry, but what you are doing here just makes no sense to me, and I have invested in hundreds of different convertible notes. Correct me if I am wrong, but if someone agrees to a convertible note with a $29M valuation cap, and then you would do a raise with a $15M valuation cap, this would be considered \"a down round\" and these early convertible note investors would loose half of their money AKA receive half the number of shares as those who invest at a $15M cap. I dare to say that if somebody from SEC would visit this page, they would agree with me that all of these 112 investors who invested so far actually have agreed for their notes to convert at a $29M valuation with a 15% discount and 7% interest, haven't they? If you are indeed intending to convert these notes at a $15M valuation like you are saying below you do, then why don't you update the investment terms on this page and on your subscription agreement to reflect these notes indeed have a $15M valuation cap, and not a $29M valuation cap?","author_name":"Vilem Fruhbauer","votes":1,"created_at":"2021-07-17T02:45:45Z","canonical_url":"https://wefunder.com/ccombinator#question-158574","answers":[{"id":158776,"entity_id":"wefunder:comment:158776","answer":"Hi Vilem, Sorry for the confusion. All of the notes we have taken in since launch are on the same terms (15% discount, 7% interest, $29M cap, Oct 2022 maturity), including the offering through WeFunder. The $15M is not a cap on the valuation, it is the Series A valuation set by an investor after we submitted Form C. The notes convert at a 15% discount to the lower of the Series A valuation or the $29M valuation cap. Updating terms and the note agreements was considered, but the process would take too much time. I hope my answers helped clarify the round and the terms. Thanks for the interest","author_name":"Ben Ellis","votes":0,"created_at":"2021-07-19T13:22:21Z"}]},{"id":158233,"entity_id":"wefunder:comment:158233","question":"Thanks! Excellent answers - thoughtful and transparent. Now it's more of a question of how much to invest. Could you say just a little more about your IP - I get that it covers extraction and processing, but how broad and strong is that coverage? How easy would it be to come up with a different way that is equally effective to process and/or extract alginate?","author_name":"Alan Jacobson","votes":1,"created_at":"2021-07-15T12:20:23Z","canonical_url":"https://wefunder.com/ccombinator#question-158233","answers":[{"id":158356,"entity_id":"wefunder:comment:158356","answer":"Hi Alan! Our IP filing covers a proprietary method of extracting the valuable alginate that protects the long chain molecules that make it excellent for emulsifiers and leather. I obviously can't disclose more than that, but we are filing more process IP on our entire production chain, more on the individual extraction steps, the steps to make our products, and the products themselves. The combination of these four approaches means we are building / have built, an IP moat around sargassum extraction methods and products. Hope that helps! Once you are a huge investor and we have an NDA, I am happy to walk you through it all! :)","author_name":"Geoff Chapin","votes":1,"created_at":"2021-07-15T22:09:10Z"}]},{"id":153330,"entity_id":"wefunder:comment:153330","question":"Hello, what is your plan for the future? Do you plan on an IPO, a buyout or other option?","author_name":"John Pereira","votes":1,"created_at":"2021-06-09T19:39:17Z","canonical_url":"https://wefunder.com/ccombinator#question-153330","answers":[{"id":156633,"entity_id":"wefunder:comment:156633","answer":"Hi John, thanks for your question. We will grow each product division and have the option to sell individual divisions to large customers, such as an agtech firm for our biostimulant, a cosmetics company for our emulsifiers, or a leather buyer such as Ikea who wants to meet their sustainability commitments with vegan leather. Sales of divisions will produce returns for our investors, and we could also be bought entirely by a large company that produces many of our products and wants to own the market for large scale low cost sustainable materials such as Cargill. IPO is a possibility but more likely we get bought by a large customer.","author_name":"Geoff Chapin","votes":2,"created_at":"2021-07-07T14:46:16Z"}]},{"id":326899,"entity_id":"wefunder:comment:326899","question":"Its been about a year since the last update, anything new to share?","author_name":"Justin Charles Mattson","votes":0,"created_at":"2026-03-04T23:06:28Z","canonical_url":"https://wefunder.com/ccombinator#question-326899","answers":[]},{"id":304712,"entity_id":"wefunder:comment:304712","question":"'Returns on Wefunder investments tend to be longer-term (the average on a return, if you receive one, is around seven years), particularly with a convertible note or SAFE as you wait until the company goes public or is acquired. It may be quite some time until you see a return'. I invested $108 in 2021. What and when should I be expecting in return please? I need to share this to the UK government. Thank you","author_name":"Alice Lau","votes":0,"created_at":"2025-03-26T20:47:25Z","canonical_url":"https://wefunder.com/ccombinator#question-304712","answers":[]},{"id":302477,"entity_id":"wefunder:comment:302477","question":"Hi guys, what is the update on this project? The last update was 4 years ago ? Is it ongoing or has it failed?","author_name":"Russell Mu","votes":0,"created_at":"2025-02-18T08:31:02Z","canonical_url":"https://wefunder.com/ccombinator#question-302477","answers":[]},{"id":285100,"entity_id":"wefunder:comment:285100","question":"Are there any updates you can share? It's been and time since we've heard anything.","author_name":"Justin Charles Mattson","votes":0,"created_at":"2024-06-12T05:50:07Z","canonical_url":"https://wefunder.com/ccombinator#question-285100","answers":[]},{"id":257374,"entity_id":"wefunder:comment:257374","question":"any updates coming?","author_name":"Richard W. Richardson, As Trustee (And His Successor) Of The Richard W. Richardson Declaration Of Trust Dated August 31, 1998, As Amended","votes":0,"created_at":"2023-08-07T15:01:19Z","canonical_url":"https://wefunder.com/ccombinator#question-257374","answers":[]},{"id":255317,"entity_id":"wefunder:comment:255317","question":"updates?","author_name":"Derrik Oates","votes":0,"created_at":"2023-07-22T13:16:41Z","canonical_url":"https://wefunder.com/ccombinator#question-255317","answers":[]},{"id":202868,"entity_id":"wefunder:comment:202868","question":"No new updates since last September?","author_name":"Ying Liu","votes":0,"created_at":"2022-04-26T16:50:26Z","canonical_url":"https://wefunder.com/ccombinator#question-202868","answers":[{"id":207612,"entity_id":"wefunder:comment:207612","answer":"Hi Ying, Apologies for the delay in updates. We will be sending out an investor email this week. Best, Ben","author_name":"Ben Ellis","votes":0,"created_at":"2022-06-08T00:54:36Z"}]},{"id":195697,"entity_id":"wefunder:comment:195697","question":"I noticed that C-Combinator was changed to Carbonwave. Will you be giving an update about the name and other information?","author_name":"Sharon Oberne","votes":0,"created_at":"2022-03-09T20:25:46Z","canonical_url":"https://wefunder.com/ccombinator#question-195697","answers":[{"id":207613,"entity_id":"wefunder:comment:207613","answer":"Hi Sharon, Apologies for the lack of update, we will be sending an update this week. Best, Ben","author_name":"Ben Ellis","votes":0,"created_at":"2022-06-08T00:55:28Z"}]},{"id":166901,"entity_id":"wefunder:comment:166901","question":"Hi. I was on your investor webinar yesterday and I was thinking about what you were saying about how to make the sargassum leather belts more durable. You said you were thinking about putting fabric in between two layers of sargassum leather. How about this? Weaving thin strips of sargassum leather into a belt. I have a cow leather belt that is made that way. Here's an image of it. The advantage of this is 1. branding (it'll be an ALL sargassum product). 2. Cost and cash flow (fabric is cheap but they're paying you to take sargassum), and 3. Supply Chain (supply chain is now something we must always keep one eye on. By using all sargassum you retain end-to-end control of your supply chain). https://www.llbean.com/llb/shop/502855?originalProduct=83119\u0026amp;productId=1388730\u0026amp;attrValue_0=Dark%20Brown\u0026amp;pla1=0\u0026amp;mr%3AtrackingCode=E948DA02-BFE7-E511-80ED-00505694403D\u0026amp;mr%3AreferralID=NA\u0026amp;mr%3Adevice=c\u0026amp;mr%3AadType=plaonline\u0026amp;qs=3125261\u0026amp;gclid=Cj0KCQjwpreJBhDvARIsAF1_BU3cVlGnN0p3niZdjLFleNcpQVUCsRKPTYdZBukze24HwwlDpD3Ae6saApRsEALw_wcB\u0026amp;gclsrc=aw.ds\u0026amp;SN=MasterPrompt04_test\u0026amp;SS=B\u0026amp;SN2=FindabilityRecs05_test\u0026amp;SS2=A\u0026amp;SN3=FindabilityProd07_Cat\u0026amp;SS3=B","author_name":"Robert HECKLER","votes":0,"created_at":"2021-08-31T17:58:11Z","canonical_url":"https://wefunder.com/ccombinator#question-166901","answers":[]},{"id":165759,"entity_id":"wefunder:comment:165759","question":"Are you focusing on one item or many to get the patents? How does this differ from other companies that have done this? I hope the focus is on something low cost high reward.","author_name":"Alexander Clarence McIntosh","votes":0,"created_at":"2021-08-25T19:37:43Z","canonical_url":"https://wefunder.com/ccombinator#question-165759","answers":[{"id":166839,"entity_id":"wefunder:comment:166839","answer":"Hi Alexander, Our IP strategy is focused on first processing, then the products that come from the process. Our process is the differentiator, which achieves high yields and quality. We have not seen any processes that have achieved both with low processing costs. Thanks, Ben","author_name":"Ben Ellis","votes":0,"created_at":"2021-08-31T13:34:02Z"}]},{"id":163601,"entity_id":"wefunder:comment:163601","question":"Is buying priced rounds better than convertible notes better than SAFE (in terms of returns for the investor)?","author_name":"Alice Lau","votes":0,"created_at":"2021-08-15T21:45:52Z","canonical_url":"https://wefunder.com/ccombinator#question-163601","answers":[{"id":164023,"entity_id":"wefunder:comment:164023","answer":"Hi Alice, The benefit of buying into a convertible note or SAFE is they typically convert into the priced round at a discount to the rounds valuation. For example, we are offering a convertible note that will convert into our priced round at a 15% discount to the round. Convertible notes are also debt instruments which typically earn interest from the time of purchase to conversion into the priced round. The note we are offering pays 7% interest. SAFEs are a convertible security and do not have an interest rate. Hope my answer helped. Thanks, Ben","author_name":"Ben Ellis","votes":0,"created_at":"2021-08-17T17:55:48Z"}]},{"id":163570,"entity_id":"wefunder:comment:163570","question":"Hi. Another question. What is your breakeven point? I realize you are talking about multiple revenue sources (e.g. getting paid to pick up the seaweed and getting paid for the products you produce with that seaweed) but can you provide any indication of how many tons of seaweed have to be picked up and/or converted for you to have a neutral or positive cash flow and when do you predict that (with all the usual caveats about how you cannot be certain about future events and are making no hard promises etc.)? If I missed that info somewhere in your presentation I apologize in advance. Thanks.","author_name":"Robert HECKLER","votes":0,"created_at":"2021-08-15T16:29:37Z","canonical_url":"https://wefunder.com/ccombinator#question-163570","answers":[{"id":164277,"entity_id":"wefunder:comment:164277","answer":"Breakeven in the model is mid-2022, assuming revenue from collection and biostimulant/seaweed fertilizer sales. That assumes just over 5K tonnes collected. But, our breakeven sargassum collection and processing is much lower as the model assumes we are building inventory in the model and investing in other products.","author_name":"Ben Ellis","votes":0,"created_at":"2021-08-18T15:09:04Z"}]},{"id":162013,"entity_id":"wefunder:comment:162013","question":"I'm a little confused here. A few of the answers mention 7% interest. Is that interest on the amount invested? Where can I find the terms of the offer?","author_name":"Scott Moon","votes":0,"created_at":"2021-08-06T08:06:31Z","canonical_url":"https://wefunder.com/ccombinator#question-162013","answers":[{"id":164028,"entity_id":"wefunder:comment:164028","answer":"Hi Scott, We are offering a convertible debt note with a 7% interest rate and 15% conversion discount to the Series A valuation. The terms can be found in the details section, but admittedly not easy to track down. Thanks, Ben","author_name":"Ben Ellis","votes":0,"created_at":"2021-08-17T17:59:45Z"}]},{"id":160477,"entity_id":"wefunder:comment:160477","question":"Hello, is South Florida not on your radar? I live in Miami and we have a pretty nasty sargassum invasion every summer.","author_name":"John Ahumada","votes":0,"created_at":"2021-07-29T23:01:24Z","canonical_url":"https://wefunder.com/ccombinator#question-160477","answers":[{"id":161500,"entity_id":"wefunder:comment:161500","answer":"Hi John, Florida is definitely on our radar in the coming years as we have seen the issue grow year over year. The benefit our business model is it works from small to large scale. We have also centralized more advanced processing methods in Puerto Rico. This means we can deploy collection and initial processing nodes throughout the Islands and Mexico, and South Florida of course, then cost effectively ship stabilized product to Puerto Rico for advanced processing. Hope this answer helps. Thanks, Ben","author_name":"Ben Ellis","votes":0,"created_at":"2021-08-04T18:52:53Z"}]},{"id":160160,"entity_id":"wefunder:comment:160160","question":"--Ownership and Capital Structure THE OFFERING 13. Describe the terms of the securities being offered. Convertible note with $29,000,000.00 valuation cap; 15.000% discount; 7% interest. See exact security attached as Appendix B, Investor Contracts. Type of Security: Convertible Promissory Notes (\"Notes\"). Amount to be Offered: The goal of the raise is $100,000.00 Valuation Cap: $29,000,000.00 Discount Rate: 85% Maturity Date: 19 months from the Effective Date.-- Hi, is the discount rate 15% or 85%? Thank you.","author_name":"Manuel E. Lugo Recart","votes":0,"created_at":"2021-07-28T05:03:07Z","canonical_url":"https://wefunder.com/ccombinator#question-160160","answers":[{"id":161502,"entity_id":"wefunder:comment:161502","answer":"Hi Manuel, The discount is 15%. Thanks for the question. Ben","author_name":"Ben Ellis","votes":0,"created_at":"2021-08-04T18:54:03Z"}]},{"id":160085,"entity_id":"wefunder:comment:160085","question":"Hi Ben, sorry for the delay in response (life bites). I'm afraid I still have a question or two. You said the $29M is the cap for the Series A that \"we expect to close late summer\". THIS SUMMER? Is THIS that Series A? I don't see where it is published which round this is. Furthermore, if this IS that Series A, why isn't it at the $15M (\"Our Series A is priced at $15M, so the note will convert at a 15% discount to the $15M valuation\")? If this is NOT that Series A, if the Series A you are referring to was last year and this is a different round, then what is it and what has changed that increased the valuation by almost 100% from that Series A valuation? Thanks, Bob","author_name":"Robert HECKLER","votes":0,"created_at":"2021-07-27T18:29:24Z","canonical_url":"https://wefunder.com/ccombinator#question-160085","answers":[{"id":161504,"entity_id":"wefunder:comment:161504","answer":"Hi Bob, No problem, busy all around. Yes, I was referring to this summer for the Series A, not last summer. This round is a convertible note bridge round, which will close ahead of the Series A. The $29M is a valuation cap (or ceiling), a common feature of a convertible note. Hope my answer helped. Thanks, Ben","author_name":"Ben Ellis","votes":0,"created_at":"2021-08-04T18:59:21Z"}]},{"id":158288,"entity_id":"wefunder:comment:158288","question":"Hi. If the Series A will be at a $15M cap, why not just wait for that and invest then? Why buy in at double the valuation at an earlier time?","author_name":"Robert HECKLER","votes":0,"created_at":"2021-07-15T16:29:44Z","canonical_url":"https://wefunder.com/ccombinator#question-158288","answers":[{"id":158354,"entity_id":"wefunder:comment:158354","answer":"Hi Robert, Thanks for the question. The $29M is a valuation cap which sets a ceiling on the valuation the note investment converts into equity at the Series A (we expect to close late summer). Our Series A is priced at $15M, so the note will convert at a 15% discount to the $15M valuation. The cap was set last year to protect convertible note investors from a high Series A valuation. Hope I helped answer your question. Thanks, Ben","author_name":"Ben Ellis","votes":0,"created_at":"2021-07-15T22:04:16Z"}]},{"id":142274,"entity_id":"wefunder:comment:142274","question":"When will the company allow investment via WeFunder?","author_name":"Mary John Frank","votes":0,"created_at":"2021-04-15T16:52:37Z","canonical_url":"https://wefunder.com/ccombinator#question-142274","answers":[{"id":156634,"entity_id":"wefunder:comment:156634","answer":"Hi Mary, sorry it took us a bit to get through the regulatory steps but we are now live! Thank you for your investment!","author_name":"Geoff Chapin","votes":0,"created_at":"2021-07-07T14:46:58Z"}]}],"faq":[{"question":"When will the company allow investment via WeFunder?","answer":"Hi Mary, sorry it took us a bit to get through the regulatory steps but we are now live! Thank you for your investment!"},{"question":"Hello, what is your plan for the future? Do you plan on an IPO, a buyout or other option?","answer":"Hi John, thanks for your question. We will grow each product division and have the option to sell individual divisions to large customers, such as an agtech firm for our biostimulant, a cosmetics company for our emulsifiers, or a leather buyer such as Ikea who wants to meet their sustainability commitments with vegan leather. Sales of divisions will produce returns for our investors, and we could also be bought entirely by a large company that produces many of our products and wants to own th..."},{"question":"Hi, I love what you are doing and will root for you no matter what, but as a potential investor I have questions. 1. You could be tremendously successful but that may not lead to a return for investors coming in at a 29M cap. I see your answer to John below and it's really int...","answer":"Hi Alan, Thank you for your questions and for the support you have shown so many companies on here. I hope these answers are helpful: 1) Our convertible notes technically have a cap of $29M but that was an investor that requested that number. Our Series A round will be at $15M, we tried to clarify that but the cap needs to be published on here. $15M is the pre-money into which we anticipate these notes converting, and at a 15% discount. This answer also relates to question 4, it's not a down ..."},{"question":"Thanks! Excellent answers - thoughtful and transparent. Now it's more of a question of how much to invest. Could you say just a little more about your IP - I get that it covers extraction and processing, but how broad and strong is that coverage? How easy would it be to come u...","answer":"Hi Alan! Our IP filing covers a proprietary method of extracting the valuable alginate that protects the long chain molecules that make it excellent for emulsifiers and leather. I obviously can't disclose more than that, but we are filing more process IP on our entire production chain, more on the individual extraction steps, the steps to make our products, and the products themselves. The combination of these four approaches means we are building / have built, an IP moat around sargassum ext..."},{"question":"Hi. If the Series A will be at a $15M cap, why not just wait for that and invest then? Why buy in at double the valuation at an earlier time?","answer":"Hi Robert, Thanks for the question. The $29M is a valuation cap which sets a ceiling on the valuation the note investment converts into equity at the Series A (we expect to close late summer). Our Series A is priced at $15M, so the note will convert at a 15% discount to the $15M valuation. The cap was set last year to protect convertible note investors from a high Series A valuation. Hope I helped answer your question. Thanks, Ben"}]}}}