Crowdonomics
All companies
MAKANI SCIENCE logo

MAKANI SCIENCE

Operating

Makani Science Inc.

Healthcare · Irvine, CA · Founded 2018

Better breathing, better health

Post-money valuation ⓘ
$11.8M
As of Mar 2023 · from Reg CF Offering (2022) · pre-money + amount raised, not a traded price
Total raised
$1,063,489
Crowd $39K · Private $1.0M · 2 rounds since 2020
Latest share price
$0.67
Reg CF · Common Stock · Dec 2022 offering price

Financials

FY2020–FY2025 · from SEC filings · hover any figure for its source
$0
−$308K
2020
$0
−$700K
2021
$0
−$659K
2022
$0
−$250K
2023
$0
−$259K
2024
$111K
−$409K
2025
RevenueNet income — beside revenue when positive, below the line when a loss
Metric
FY2020 reviewed*
FY2021 reviewed*
FY2022 unaudited
FY2023 unaudited
FY2024 unaudited
FY2025 unaudited
Income statement
Revenue
$0
$0
$0
$0
$0
$111,059
Cost of goods sold
$0
$0
$0
$0
$0
$0
Gross margin
—
—
—
—
—
100%
Net income
-$307,578
-$700,431
-$658,949
-$250,224
-$258,997
-$408,859
Taxes paid
$0
$0
$0
$0
$0
$0
Balance sheet
Cash
$645,937
$667,116
$79,168
$48,693
$37,664
$312,123
Accounts receivable
$0
$0
$0
$0
$0
$0
Total assets
$645,937
$667,116
$79,168
$48,693
$37,664
$312,123
Short-term debt
$3,231
$4,788
$60,588
$85,683
$103,712
$84,464
Long-term debt
$369,947
$480,000
$480,000
$605,000
$0
$1,439,800
Total liabilities
$373,178
$484,788
$540,588
$690,683
$103,712
$1,524,264
Other
Headcount
—
3
—
3
—
3

Figures 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, as the filing’s own report or certification states it. A dashed pill marked * is inferred instead: the SEC minimum for an offering that size, which the issuer may have exceeded. No pill means we couldn’t tell. Headcount is the filing’s point-in-time count, not a year-end average. Manually corrected figures are marked “Corrected”.

Valuation over rounds

Pre-money — the valuation set before each round’s money came in
$11.7M
pre-money
Reg CF · Common · Dec 2022

Blue bars are the pre-money valuation the company stated for a priced round.

Share price over rounds

$0.67$0.335$0.29
Nov 2020Dec 2022
Round offering price or verified disclosed saleDisclosed sale, unverified or year-only

Disclosed sales come from the issuer's own filings (prior-offering lines, audited-statement notes) and are amount ÷ securities sold. A down round is a firm point more than 25 % below the previous firm point of the same share class on a comparable basis; the comparison ignores unverified and year-only lines.

Cap table

Share counts as of Apr 29, 2026
Series Seed-2 Preferred Stock · 26.9%Common Stock · 73.1%
ClassOutstandingVotes / shareShare of totalLast price
Series Seed-2 Preferred Stockpreferred3,753,634—26.9%—
Common Stock10,214,463173.1%—
Total13,968,097100%

Principal holders% as the filing states it, Apr 29, 2026

  • Koa Accel, LLC3,408,807 Series Seed-2 Preferred Stock19.1%of company
  • Francis Duhay2,600,000 Common Stock16.5%of company
  • Michelle Khine2,500,000 Common Stock14.0%of company
  • Everyone else (not named in filings)50.4%

Sold to the crowd

From the company's SEC filings: share counts per class, each class's voting and conversion terms, and the holders of 20% or more that Form C requires (officers and 10%+ holders on Form 1-A). Filings name only large holders, so most owners — including crowd investors — are not listed, and a holder's percentage may be of its own class rather than of the whole company. Prices and crowd share counts are in today's share terms — adjusted for splits and conversions since they were sold. Hover a figure for its filing.

Fundraising history

Raised $39.4K / $1.2MInvestors 88Post-money $11.8M

Team

9 people
Michael ChuFounder
Co-Founder and CEO

Michael is one of the original founders of Makani Science. He completed his PhD at the University of California, Irvine, in Biomedical Engineering, where he co-authored over 10 peer-reviewed publications and is listed as an inventor on 3 patents. His research around wearable respiratory monitoring has been highlighted in various news and media outlets and serves as the foundational technology for Makani Science. Michael has worked closely with the Makani Science team from day one to develop the Makani Science Respiratory Monitoring System. He has also actively participated in the business development side of the company, establishing partnerships for future collaborations and research opportunities. Michael participated in Y-Combinator and MedTech Innovator as part of their 2021 summer cohort where he helped raised additional funding for the company. In Q4 of 2021, Michael was selected as the full time CEO for Makani Science.

Michelle Khine
Scientific Co-Founder & Director

Michelle Khine, Ph.D. is a Professor of Biomedical Engineering at UC Irvine. She is the founding Director of Faculty Innovation at the Samueli School of Engineering and founding Director of BioENGINE (BioEngineering Innovation and Entrepreneurship) at UC Irvine. Prior to joining UC Irvine in 2009, she was an Assistant & Founding Professor at UC Merced. Michelle received her BS and MS from UC Berkeley in Mechanical Engineering and her PhD in Bioengineering from UC Berkeley and UCSF. She is the Scientific Founder of 6 start-up companies. Michelle was the recipient of the TR35 Award and named one of Forbes ’10 Revolutionaries’ in 2009 and by Fast Company Magazine as one of the ‘100 Most Creative People in Business’ in 2011. She was awarded the NIH New Innovator’s Award, was named a finalist in the World Technology Awards for Materials, and was named by Marie‐Claire magazine as ‘Women on Top: Top Scientist’. She was named Innovator of the Year 2017 for the Samueli School of Engineering at UC Irvine. Michelle is a Fellow of AIMBE (American Institute of Medical and Biological Engineering, recognizing the top 2% of biomedical engineers nationally) and well as a Fellow of the National Academy of Inventors.

Stephen Young
CFO (Chief Financial Officer)

Stephen has 25 years of extensive experience in financial operations management in the consumer packaged goods industry. He has successfully built and led finance teams with Del Monte Foods and Safeway, Inc. His passion for building financial operations from the ground up has led him from his recent start-up experiences to KOA ACCEL. Stephen’s expertise in economic analysis, strategic planning, and financial modeling has been instrumental to the successful launches of various new products domestically and internationally. He is also highly skilled in developing business processes, systems, and building financial/accounting infrastructure. Stephen received his MBA degree from Southern Illinois University and both his B.S. degrees in Finance and Marketing from the University of Illinois at Urbana-Champaign

Arlene Bumb
Head of Marketing

Arlene is a senior executive with over 30 years of experience in medical/healthcare marketing, business development, and management. Her areas of expertise include new product development and commercial launch (US and OUS); strategic and tactical marketing, market research, and product management; and, external communications. She has played an integral part in the growth of large established companies, such as Pfizer (Shiley), Medtronic, Beckman-Coulter, St. Jude Medical, Thermo-Fischer, and most recently Arlene has focused on building the identity, value and infrastructure of many start-ups including EP Dynamics, Reviticell, Pegasus Biologics, PhageTech, BioMedGPS, and TinyKicks. Her consulting company, Silvergleid and Associates, has performed market due diligence for IPOs and advised international companies on the suitability for US market entry. Arlene holds a BS in Chemistry and Biology from Simmons College and MBA courses from Boston University.

Stephane Gobron
Head of Engineering

Stephane completed his Master of Plastic Engineering in France (INSA Strasbourg) before completing a second Master of Science in Chemical Engineering at Syracuse University (NY). To follow his interest in inventing new designs and products, he chose to work in the medical device industry, focusing on R&D and new product development. He is a highly accomplished medical device designer, with 31 device patents to his name spanning several medical fields of application: monitoring, ophthalmology, cardiology, implants, and minimally invasive endoscopic surgeries. Stephane has been working in the medical device Industry for over 25 years; he started in large cap , high-volume corporations (Boston Scientific, Novartis) to gradually focus onto the start-up world and develop his entrepreneurial business sense. He held various technical positions of increasing responsibilities and oversaw the development of several devices from concept definition to FDA clearance and market launch. He transitioned into executive management almost 15 years ago: leading technical teams, interacting with agencies, and helping with Venture Capital fund raising.

Anas Deiranieh
Engineer

Anas received his B.S. degree in Biomedical Engineering from the University of California, Irvine. During his time at the University, he did research in Dr. Michelle Khine’s lab and developed a strong foundation in fabricating soft wearable electronics. After graduating, Anas joined Makani Science, where he spearheaded the protocol development and fabrication of the novel sensors used by the company. Anas also plays an instrumental role in the verification and validation testing of the Makani Science Respiratory Monitoring System.

Gracie Chan
Operations Coordinator

Gracie studied Business Management and Human Resources at Cal Poly Pomona. She is passionate about sustainability and social responsibility. While a student, she learned business management through various internships and campus involvements. She supports Makani Science by coordinating projects and programs. Gracie aids the team with resource, meeting, and information coordination. In addition, she helps oversee administrative and scheduling tasks.

Greg Buchert
Board Director

Greg Buchert, MD, MPH is the CEO of GSB Health Management Solutions, a consulting firm focused on innovative solutions to improve the health care delivery system. He has over 25 years of C-Suite experience in health plan leadership roles and leverages that in his roles as advisor to startup companies. He is the former President and CEO of Blue Shield of California’s Promise Health Plan that serves over 500,000 Medicaid, Medicare and Dual Eligible members. He previously served as the Chief Executive Officer that launched Centene’s first Medicaid Managed Care Plan in California and later as Chief Medical Officer of HealthNet after its acquisition by Centene. Greg was a founding executive for CalOptima, a public managed care organization where he served as Chief Operating Officer and Medical Director. He began his professional career as a pioneer in Pediatric Emergency Medicine. His previous positions include work as a Principal Consultant with Health Management Associates, a national healthcare consulting firm. Greg started his career as a Pediatric Emergency Physician serving in leadership positions at two children’s hospitals and as administrative director of a medical group. He is a Fellow of the American College of Emergency Physicians and American Academy of Pediatrics. Greg has a passion for innovation, the expanded use of technology in healthcare, improving quality of care and heath equity.

Ray Chan
Board Chairman

Ray Chan is a prominent investor who has been recognized as one of Orange County Business Journal’s most influential business leaders since 2017. Ray is the Managing Director of K5 Ventures and has been leading county-wide efforts to build the tech and startup ecosystem within Orange County. He is also an active member of Tech Coast Angels and an Investment Partner for their Angel Capital Entrepreneur Funds. Ray has a 30+ year track record of successful business execution and of being a startup queen/kingmaker. Ray has personally made over 300 investments and is well-known for rewarding shareholders with exceptional financial returns. As the co-founder of Koa Accel and Managing Director of the Koa Accel Venture Fund, Ray is excited to combine all of his expertise and passions to transform life-saving MedTech ideas into thriving commercial ventures.

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

Not requiredFewer than 300 holders of record

Filed 2 of 4 annual reports (FY2022–FY2025)

88 investors
holder-count proxy

Reg CF issuers must file a Form C-AR each year until a Rule 202(b) termination trigger is met.

SEC filings

  • Form C-ARApr 29, 20260001960426-26-000001
    EDGAR
  • Form C-ARApr 9, 20240001665160-24-000336
    EDGAR
  • Form C-UApr 3, 20230001665160-23-000533
    EDGAR
  • Form C/AFeb 21, 20230001665160-23-000279
    EDGAR
  • Form CDec 30, 20220001665160-22-003144
    EDGAR
Source: ManualCIK 0001960426DEShare price $0.67

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.