Drop Water
OperatingDrop Water Corp
Biotech · San Luis Obispo, CA
Drop Water designs and manufactures patented drink machines, compostable packaging and a wide range of flavor and boosts. Our machines live in airports, gyms, and event venues—and we just sold four units to Levy Restaurants after a six-month pilot at the Boston Convention Center.
Financials
FY2023–FY2024 · from SEC filings · hover any figure for its sourceFigures as reported by the issuer in the filing shown on hover. Each year’s pill shows the assurance level of its filed statements — audited, reviewed (CPA review, less than an audit), or unaudited; no pill means the filing didn’t state one. Headcount is the filing’s point-in-time count, not a year-end average. Manually corrected figures are marked “Corrected”.
Valuation over rounds
Post-money = pre-money + amount raised · caps markedA dashed amber step is a SAFE/note valuation cap — a conversion ceiling agreed for that instrument, not a priced valuation of the company. Steps are not comparable across bases.
Fundraising history
Team
7 people
Andrew Preston has held executive roles at public and venture-backed companies, participated in fundraising efforts, and been involved in multiple acquisitions. He currently advises or supports tech firms like StrataVision and Vantiq. Andrew spends 5 to 10 hours a week on Drop Water.
James is a Principal on the investment team at Draper Associates. He was formerly a corporate attorney with Latham & Watkins in Silicon Valley, where he specialized in emerging company matters and venture financing transactions. James has a bachelor’s degree in business-economics and psychology from the University of California Santa Barbara, a J.D. from Duke University School of Law and an M.B.A. from Columbia Business School. James spends 1 hour a week on Drop Water.
Tom Proulx co-founded Intuit and created Quicken while at Stanford, later helping launch QuickBooks and acquire TurboTax. He’s advised or served on boards of several startups, including Drop Water and 1047 Games, and remains active in tech and adventure racing. Thomas spends 1 hour a week on Drop Water.
Names and titles as disclosed on SEC Form C, StartEngine. Bios and photos come from the platform campaign page and may be out of date.
Reg CF annual-report compliance
never closed a Reg CF raise
Reg CF issuers must file a Form C-AR each year until a Rule 202(b) termination trigger is met.
SEC filings
About this data. Figures are compiled from public sources — SEC EDGAR filings (Form C, C-AR, 1-A, 1-K) and funding-platform pages — and may be delayed, incomplete, or restated by the issuer. Financial statements are as reported by the issuer; each year is labeled with its assurance level (audited / reviewed / unaudited). A valuation cap is the conversion ceiling of a SAFE or convertible note, not an agreed company valuation; post-money figures are computed as pre-money plus amount raised and are not a traded price. Crowdonomics is not a broker-dealer, funding portal, or investment adviser; nothing here is investment advice or an offer to sell securities. Verify all figures against the linked EDGAR filings.