A year ago, Sunil Mahajan, CEO of Kleeto, approached a few seed funds and venture capitalists to raise working capital for the record management solutions company. Forget funding, many of them did not even give Mahajan a patient hearing.
Kleeto faced an unusual problem — its capital requirement was very small. That made it a pariah for the investors it contacted. The investors were besotted with ecommerce startups, which required bigger capital and ergo, represented bigger ambitions and bigger markets, although they carried bigger risks. "VC funds had no appetite to invest in B-to-B profile like ours," says Mahajan.
Ready to start expanding, the creators of smartphone app ASAPP! have launched an equity crowdfunding campaign on Seedrs to raise £110,000.
ASAPP 4ASAPP! is a free app that is available to iOS and Android devices that allows businesses to target the right people in your neighborhood or town. It uses the phone’s inbuilt GPS technology to determine the user’s location to create a virtual perimeter (or Geo Fence). These fences have a diameter of 5 meters to 5 kilometers and can be drawn from around a corner shop, a football stadium or a city center.
Acton RocketSkates are smart motorized skates that fit right over your shoes. Once they’ve been powered on, simply push off and the motors will take over to propel you forward. For accelerating, lean forward and for braking or stopping, put your heel down. This means that the rider has complete control over the motor without the hassle of a remote. With an app and Bluetooth connection, the skater can track their route and mileage as well as the progress of other Acton RocketSkaters in the area.
Flipkart, the largest e-commerce company in India, announced on Twitter that it has raised a massive $1 billion round. The round was led by Tiger Global Management and Naspers, with participation by GIC and existing investors Accel Partners, DST Global, ICONIQ Capital, Morgan Stanley Investment Management, and Sofina. The tweet confirms reports several days earlier in the Economic Times that company had secured that amount in funding at a reported $7 billion valuation.
In a statement, Flipkart said the “funds will be used to make long-term strategic investments in India, especially in mobile technology.”
This takes the total Flipkart has raised so far to $1.75 billion. The company, which now has 22 million registered users and makes 5 million shipments a month, last announced fundraising in May, when the company said that it had closed a $210 million round led by DST Global, with participation from Tiger Global, Naspers, and Iconiq Capital.
Flipkart will most likely use the money to ward off competition from Snapdeal and Amazon, which launched in India a year ago. It will also continue acquiring startups–it’s most recent purchase was online fashion dealer Myntra in a deal reportedly worth $300 million.
With the fast growth of social media, the influence of such media has grown beyond being a mere marketing tool. In fact, this influence has also extended to business funding through the phenomenon of crowdfunding. This portmanteau takes after the original “crowdsourcing” and is used to refer to the collective effort of a large network of individuals who each contribute a small amount of capital to finance a new speculative business venture.
Launched last month, Tolexo is an online marketplace from India which aims to be the go-to place for buyers of industrial and construction goods. Tolexo already has over 50,000 stock keeping units (SKUs) in seven categories like industrial safety and engineering tools. More than 100 sellers of such things have registered with it and the list is growing fast.
The idea is that online visitors might appreciate having a cartoon character who can point out the important parts of a website and walk them through some of the trickier bits — and that, in turn, can lead to increased sales. For example, when you visit the Toonimo site, animated characters lead you down the page and explain the concept behind the company, in the hopes that you’ll sign up for a free trial.
Botfactory computer engineer Carlos Ospina said that most of the people he encountered didn’t believe it was possible. But he’s proven them wrong with Squink, a portable circuit board factory that allows you to test your project in minutes in the comfort of your home — costing around $2 to print.
The project took off, and has now raised US $49,733 to date.
That’s right. He’s making potato salad for himself. And he just raised $$49,733.
This is a fantastic idea, from entrepreneur David Kariuki who is a small internet service provider currently trying to expand his business by installing Wifi Hotspots and Access Points in various public places like bars, restaurants, hotels, apartments and shopping malls that are located in his small town in Kenya.
His campaign is off to a great start and has already raised its first USD 50.00 dollars of investment on fundedflow. Visit his campaign page below to see this success story and support the campaign! View the campaign here
I love huntin’ through data to find the weird little trends; it’s how you learn how things actually work. I also really, really dig the concept of crowdfunding. Put the two together, and you’ve got my attention.
During a chat with John Biggs at last years at Disrupt Europe, Indiegogo CEO Slava Rubin dropped a rapid fire stream of knowledge. If you’re considering doing any sort of crowdsourcing campaign, this is probably stuff you should know.
Crowdfunding campaigns, when run well, can seem effortless, almost magical, if you’re watching from afar. Seeing the money and backers pile up, especially in the last phase of a campaign, can be breathtaking, when everyone is hugging and high-fiving.
However, crowdfunding is not a walk in the park. Unless that park is covered with broken glass. And a lion ate your shoes at the entrance gate. And he is now chasing you.
There is anxiety, especially during that famous mid-campaign plateau. There are sleepless nights, when instead of counting fluffy sheep you’re counting all of your Facebook friends who haven’t contributed yet. And don’t forget about the obsessive-compulsive “refreshing” of your campaign page to see if there are any new backers. Yes, crowdfunding can be stressful, but if you do the proper prep work — and create the right relationships on social media — crowdfunding can be full of great joy and excitement.
Below are some important tips before kicking off your crowdfunding campiagn.
TAKAYAMA, Japan—When microbrewery owner Saburo Setsuda needed to replace a bottling machine last year, his bank said no to a loan but introduced him to a Tokyo firm that helped him raise funds online.
"I remember thinking it was almost too good to be true," said Mr. Setsuda, who had piled up ¥10 million ($98,000) in outstanding bank loans. He is one of a number of Japanese entrepreneurs, from fashion designers to restaurant operators, who are turning to online fundraising, known as crowdfunding, when regular banks won't help.
To build a startup, you’ve got to believe in your mission. Big time. That’s why the co-founder of apartment-rental site Airbnb never stays in hotels. And that’s why the SeedInvest team raised its first round of funding through equity crowdfunding.