$5 Million Raised Since Change in Equity Crowdfunding Rules
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On May 16, the rules for equity crowdfunding expanded, opening up the method to anyone. Previously, only accredited investors who met certain financial requirements were eligible to back businesses in this manner.
In its $5 million benchmark, the group highlighted equity crowdfunding campaigns that have met their minimum goals.
“It’s encouraging to see how both entrepreneurs and investors are embracing equity crowdfunding,” says Aubrey Chernick, founder of NextGen Crowdfunding, in the release. “This new era of crowdfunding is creating powerful opportunities for both investors and startups.”
According to NextGen, here are the companies “that have passed their minimum goals as of the time of this announcement”:
- Beerfit: Endurance event production company featuring America's Beer Run -- $27,912
- Beta Bionics, Inc.: “Bionic pancreas” to manage blood sugar levels -- $1,000,000
- Cleveland Whiskey LLC: Distillery that creates speed-aged spirits in 24 hours -- $299,507
- Everipedia, Inc: A free, easy to use wiki and commenting platform -- $68,136
- Hawaiian Ola Brewing Corporation: A drink company that utilizes farmers who produce sustainable crops -- $100,000
- Hops and Grain Production, LLC: Sustainable craft brewery and taproom -- $828,578
- Legion M Entertainment, Inc.: Fan-owned entertainment company -- $1,000,000
- MF Fire: A fire technology company leveraging advanced combustion science to engineer fire products -- $108,300
- MobileSpike, Inc: Allows law enforcement officers to stop pursuits from the safety of their vehicle -- $112,036
- My Trail Company, PBC: Outdoor apparel and equipment company -- $158,176
- N1CE: Packaged frozen cocktails -- $112,441
- Native Hostel Austin LLC: Upscale youth hostel -- $396,500
- Red Bay Coffee Company: Wholesale specialty coffee, hand-roasted in Oakland, Calif.
- Shape Scale, Inc: A scale that scans your body in 3-D to show changes in your body and appearance -- $96,536
- Slingfin, Inc: An outdoor equipment brand -- $67,179
- Snapwire: Connects mobile photographers with businesses and brands that need creative imagery -- $92,740
- Speakeasy: Nightclub, bar, cabaret and casino in San Francisco -- $357,451