Aeronavics’ crowdfunding offer on Snowball Effect flies to $1.5m limit
Tuesday 24th February 2015
Drone manufacturer and Baldwins’ client Aeronavics has greatly exceeded their initial funding target of $750,000 to raise the maximum of $1.5m in just 5 days. The crowdfunding offer through Kiwi crowdfunding platform Snowball Effect was the most successful to date and investors had to be quick to secure a slice of the 15% equity offered by the company.
In total, 213 investors bought in to the offer and their funds will go towards R&D, channel and partner development, investment in key personnel and tooling and production line equipment.
Baldwins is proud to work with Aeronavics, a unique Kiwi start-up company that has established a solid global reputation in the commercial drone industry. Aeronavics aim to be a key player in the commercial application of drone technology whether that be shooting Hollywood blockbusters, mustering sheep, inspecting bridges or finding lost bush walkers. The drone industry is developing rapidly and is set to expand further as governments finalise the necessary regulatory framework and numerous novel applications for the technology come to light.
Aeronavics’ offer is the fourth successful offer from the Snowball Effect which has raised almost $3.5m for Kiwi companies to date. An earlier offer on the platform successfully raised over $750,000 for Baldwins’ client CarbonScape.