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10^13th 1A
Equity
€48,500
total amount raised in round
194%
- Eligible for a tax reduction
Offer conditions
The 10 TO THE 13TH POWER compartment of Spreds Finance would participate in the financing of 10^13TH BV/SRL for an amount between €25,000 and €3,000,000 (the “Capital Increase”).
From the total amount raised during the offering period, Spreds Finance will use €1 per Participatory Note, subject to compliance with the conditions applicable to this investment.
The maximum offer amount of the offer: €500,000
The maximum offer amount of the offer: €500,000
Subscription price: Each Participatory Note has a nominal amount of €1. Added to this is a subscription cost of up to 5% of the nominal amount per Participatory Notes (or €0.05). The total subscription price of a Participatory Note is thus a maximum of €1.05. The minimum subscription amount is €500 (excluding subscription fees).
Conditions precedent of the offering:
The Notes will only be issued if, within 6 months from the Closing Date (the Effective Date), the following cumulative conditions precedent to the subscription of shares of 10^13TH by Spreds Finance are met:
The Notes will only be issued if, within 6 months from the Closing Date (the Effective Date), the following cumulative conditions precedent to the subscription of shares of 10^13TH by Spreds Finance are met:
- The total amount of firm commitments to subscribe to this capital increase shall be at least €25,000 and not more than €3,000,000.
- The Capital Increase is carried out on the basis of a pre-money valuation of the Company of maximum €3,000,000.
- Spreds Finance will participate in the capital increase for an amount equal to the result of the subscription to Participatory Notes of the 10 TO THE 13TH POWER 1A Compartment. This amount must be at least €25,000.
Spreds Finance will verify whether these conditions are met no later than six months after the closing date (the “Effective Date”), i.e. 25/09/2026.
If one or more of these conditions are not met on that date, the Notes will not be issued and investors will be reimbursed their subscription amount no later than 15 working days after the Effective Date.
Tax Shelter (45%)
This investment is eligible for a tax reduction for Belgian investors under the tax incentive on tax shelter for start-ups. The reduction of up to 45% of the total nominal amount of the Participatory Notes invested will be applicable since the Underlying Assets are shares in a micro- enterprise. The total tax benefit is therefore a maximum of €0.45 per Participatory Note. The total tax benefit is therefore a maximum of €0.45 per Participatory Note.
The available tax shelter budget is €500,000.
Valuation of the company
The company has set their pre-money valuation at EUR 3,000,000.
This valuation was determined using the Venture Capital Method, a valuation approach commonly applied to early-stage technology companies. The methodology estimates a potential future exit value based on the company's financial projections and applies an investor return requirement to derive a present-day valuation. Based on this analysis, management considers a pre-money valuation of €3,000,000 to be prudent and broadly consistent with the company's current stage of development, technology maturity, intellectual property and growth potential.
Exit Strategy
For investors, the most likely exit scenario for NUL would be a strategic acquisition ("trade sale") by a major technology company active in artificial intelligence, augmented reality, wearable computing or human-machine interaction.
NUL is developing a proprietary Cognitive Context Layer capable of interpreting facial expressions, conversational ambiguity, tone and intent in real time. As AI assistants, smart glasses and next-generation human-machine interfaces continue to evolve, the ability to understand human context may become a critical infrastructure layer within future digital ecosystems.
A potential exit opportunity could emerge within a 4 to 6-year horizon, once:
- the technology has been validated through large-scale real-world usage;
- recurring revenues have demonstrated commercial viability;
- a proprietary dataset of cognitive context interactions has been accumulated;
- strategic integrations with major technology ecosystems have been established;
- the platform has become a recognised communication support solution within neurodivergent and professional environments.
Potential acquirers could include companies active in AI, wearable computing, accessibility technologies and augmented reality ecosystems.
Based on management's current assumptions and valuation methodology, the company considers an acquisition at a valuation ranging between €80 million and €150 million to be the most realistic exit scenario. Management currently applies an exit multiple of approximately 8x, which it considers conservative relative to comparable high-growth AI and software businesses.
Depending on the timing of the exit, future financing rounds and resulting shareholder dilution, this scenario could potentially generate a return of approximately 6x to 10x the initial investment for investors.
This exit scenario reflects management's current expectations and strategic objectives. It is provided solely for illustrative purposes to help investors understand a possible future outcome. There can be no assurance that an exit event will occur, that it will occur within the expected timeframe, or that any particular valuation or return multiple will be achieved.
KPI 1: Active Users
Key indicator of adoption, product-market fit and platform validation.
- Initial (2026): 100 users
- Intermediate (2028): 10,000 users
- Exit-ready: 35,000+ users
KPI 2: Annual Recurring Revenue (ARR)
Key indicator of commercial traction and scalability of the subscription model.
- Initial (2026): €10K–20K ARR
- Intermediate (2028): €4.5M–8M ARR
- Exit-ready: €10.8M–27M ARR
KPI 3: Cognitive Context Interactions Processed
Key indicator of technological maturity, dataset creation and strategic value.
As users interact with the platform, NUL continuously improves its ability to interpret communication and build proprietary cognitive context datasets.
- Initial: 10,000+ interactions processed
- Intermediate: 5M+ interactions processed
- Exit-ready: 100M+ interactions processed
Use of Funds
The majority of funds will be dedicated to user acquisition and platform visibility at commercial launch:
- Product Development and R&D – 40%
- Go-to-Market and Marketing – 25%
- Team and Operations – 20%
- Testing and Validation – 10%
- Legal and Administrative – 5%
Subscription period
Start date of the offering period: 25/09/2026
Scheduled end date of the subscription period: 25/09/2026
Scheduled end date of the subscription period: 25/09/2026
Extension: Maximum extension of 3 months, until 25/12/2026
Conditions for extension: Spreds Finance may decide to extend the subscription period if the total amount of the orders contained in the subscription forms is at least €20,000 on 25/09/2026.
Early closing: The offer can be closed early once the minimum offer amount, of €25,000, has been reached. Early closure of the offer may also be decided if the total amount of orders contained in the subscription forms signed and transferred to Spreds Finance reaches the maximum amount of the offer.
Consequences if the target capital is not raised by the deadline: If the target capital is not raised, the Participatory Notes will not be issued and all commitments related to this offer will be cancelled. Investors will be reimbursed for their respective Subscription Amount no later than 15 business days after the Deadline. Investors will not incur any fees or expenses as a result of the offer not reaching the targeted amount.
TAX SHELTER 45%
Investments in this company benefit from a 45% personal income tax reduction. Read more…A remaining amount of €461,500 is available for the Tax Shelter benefit.
Raise summary
| Crowd investments | €48,500 |
| Committed by others | €0 |
| Amount raised | €48,500 |
| Minimum round | €250,000 |
| Maximum round | €3,000,000 |
| Shares in the company (total round) | 50% |
| Pre-money valuation | €3,000,000 |
| Post-money valuation min. | €3,250,000 |
| Post-money valuation max. | €6,000,000 |