Below are the latest equity crowdfunding raises that started this past week. For additional information, we encourage KingsCrowders to click on the link provided for more details, how each startup’s respective raise is progressing, and the ideas they are bringing to the marketplace.
Please note, what follows are not recommendations but are meant to inform our readers of new investment opportunities.
Be sure and check back with KingsCrowd in the future. We will continue providing updates on the following deals as they progress. Particularly if we feel they meet our criteria of being worthwhile as potential investments.
Convesio, with a valuation cap of $5.5 million, is raising funds on WeFunder. The company makes the enterprise level WordPress hosting solutions available to everyone, without the complexity of traditional cloud providers. The product of Convesio solves the challenges associated with scaling WordPress and offers a unique architecture with caching, security, containerization, and availability.
Convesio was founded by Thomas Fanelli, Dyutiman Chakraborty, and Elizabeth Bochner and has raised $551,773 since its founding. The current crowdfunding round has a minimum target of $200,000 and a maximum target of $1,000,000 and is expected to launch on July 1, 2019. Convesio is already hosting more than 500 websites, with over 90 million requests per month.
FoldiMate, with a valuation cap of $35 million, is raising funds on SeedInvest. The company is applying robotics to the most mundane house chore, laundry folding. The robotics technology of FoldiMate will be able to fold the clothes automatically, quickly and easily, and put them away in neat piles.
Of the algorithms and patents, two are granted, ten filed, and twelve drafted. FoldiMate was founded by Gal Rozov and has already raised $8.3 million previously from BSH Home Appliances Group. The current crowdfunding round has a size of $3 million, and the proceeds will be used for R&D, prototypes, IP filings, field testing, marketing, and general expenses. FoldiMate already has 350,000 potential customers and 250 businesses on its pre-order waitlist, of which 12,500 have also paid a deposit.
Weeds Never Sleep, the manufacturer of HotZot with a pre-money valuation of $2.5 million, is raising funds on TruCrowd. HotZot is the ultimate solution to the problem faced in golf courses, parks, playgrounds, schools, and gardens: weeds. The revolutionary tool of Weeds
Never Sleep is an organic sprayer that destroys weeds by pointing and shooting boiling water with organic herbicides on them. Weeds Never Sleep was founded by Bonnie Bruce and Michael Peterson. The current round of crowdfunding has a minimum target of $10,000 and a maximum target of $100,000, and the proceeds will be used for engineering, prototyping, marketing, advertising, and other fees. HotZot of Weeds Never Sleep is already patented, and the company has received over 300 requests to buy the product even before it is launched.
Vegan Fine Foods, America’s all-vegan market with a valuation cap of $5 million, is raising funds on WeFunder. It is an all-vegan store for groceries, health and beauty care, and prepared foods. Vegan Fine Foods opened its first flagship store in Fort Lauderdale, Florida in 2018. The company was founded by Steven Smith and has raised $727,761 since its founding.
The current crowdfunding round has a minimum goal of $50,000 and a maximum target of $1,070,000, and the proceeds will be used for marketing and promoting franchise opportunity and implementation of an inventory management system. Vegan Fine Foods has already reported $1.2 million in revenue in the first 15 months and has served more than 35,000 customers.
Breaking Normal, a groundbreaking social networking app with a pre-money valuation of $2 million, is raising funds on StartEngine. The Breaking Normal app helps users form real connections, make true friends, and rewards them for being truthful and honest. The app was founded by Daniel Eisenman and is expected to release in the first week of July 2019. The proceeds of the current crowdfunding round, with a minimum target of $10,000 and a maximum target of $107,000, will be used for app and brand marketing. Breaking Normal has already been through successful alpha and beta testing launches and has been downloaded by more than 600 users.
StorEn Technologies, with a pre-money valuation of $28.05 million, is raising funds on StartEngine. The company has developed a patent-pending all-vanadium battery technology that promises to provide affordable and long-lasting energy storage. The proprietary technology of StorEn Technologies assures efficient, cost-effective, and durable batteries. StorEn Technologies was founded by Carlo Brovero and Angelo D’Anzi and has already raised more than $650,000 in previous rounds of funding.
The current round of crowdfunding has a minimum target of $10,000 and a maximum target of $724,000. StorEn Technologies has filed four patent applications that secure its innovative IP, and the company has already secured its first order of $500,000 from Australia.
Franny’s Distribution, the platform for CBD distribution with a pre-money valuation of $8.4 million, is raising funds on StartEngine. The company leverages vertical integration to bring high-quality and low-cost hemp and CBD products to the market through wholesale and e-commerce. Franny’s Distribution controls the entire supply chain to meet high standards.
The company was founded by Frances Tacy and Jeff Tacy and exceeded its maximum goal of $107,000 in its previous round of crowdfunding. The current crowdfunding round has a minimum goal of $10,000 and a maximum goal of $428,000. Franny’s Distribution has reported revenues of $385,000 just in the last five months, launched two new dispensaries, and is launching a franchise offering.
Thuzio, with a pre-money valuation of $5 million, is raising funds on SeedInvest. It is a sports events and media company focused on inspirational stories associated with live sports. The sports fans get to meet their heroes at the invitation-only events and learn from them. Thuzio was founded by Tiki Barber, Mark Gerson, and Jared Augustine in 2012 and has raised $178,600 in previous rounds of funding. The proceeds of the current crowdfunding round, with a round size of $2 million, will be used for payroll, marketing, third-party, and general expenses. Thuzio reported $2.67 million in revenues in 2018 and has served more than 200 corporate customers.
About: Chris lustrino
A Boston College Eagle for life, on a mission to democratize startup investing for all people at KingsCrowd, with a passion for Fintech, investing, social impact, doing well and doing good, and an avid runner, cyclist and writer.