Click to rate this post!
[Total: 0 Your Rating: 0]You must sign in to vote
Top 5 Weekly Highlights
We are excited to introduce SeedInvest Weekly Highlights, a roundup of a selection of 5 deal updates, key milestones, portfolio company news, and more from the prior week.
1. SEC passes dramatic improvements to securities laws, impacting investors & startups everywhere
On November 2nd, the SEC passed dramatic improvements to securities laws for startups and investors.
• Raising the maximum raise amount from $1.07M to $5M for Reg CF raises and from $50 to $75M for Reg A+
• Amending the investment limits for investors in a Reg CF offering by 1) removing the investment limits for accredited investors and 2) instead using the greater of one’s annual income or net worth when calculating the investment limits for non-accredited investors
• Extending Reg CF’s COVID-relief measures for an additional 18 months
• Permitting issuers to “test-the-waters” for an exempt offer of securities prior to determining which exemption it will use, including for Reg CF offerings
• Permitting a new type of Special Purpose Vehicle in Reg CF offerings
SeedInvest CEO Ryan Feit recently published an article, “A Major Turning Point for Private Capital Markets in America,” detailing his thoughts on the changes and his renewed confidence in the SEC – click below to read it.
2. Miso Robotics expands partnership with White Castle & surpasses $10M raised ahead of campaign closing
White Castle, America’s first burger chain, and Miso Robotics recently announced plans to expand implementations of Miso’s autonomous kitchen assistant, Flippy. Miso and White Castle will target up to 10 new locations as part of a beta rollout of Flippy to White Castle’s North American restaurants.
News of the pilot’s success has already been picked up by major publications such as TechCrunch, Engadget, Business Insider, and L.A. Biz.
Miso’s campaign is successfully funded and has surpassed $10M raised, making it the company with most investments currently raising on SeedInvest. The last day to invest is Friday, November 20th – 13 days from today.
3. SeedInvest rolls out new platform feature, the “Follow” button
We are excited to announce a new platform feature on SeedInvest – the “Follow” button. “Following” a company will ensure you never miss an update on a company you’re interested in.
Here’s how it works: Log into your account and click the “Follow” button on a company’s profile page to receive business updates, campaign reminders, and webinar alerts during the campaign. You can also select multiple deals to follow at once by logging in, navigating to your User Settings, clicking Communication, and then selecting the companies you want to follow. Going forward, you will no longer receive individual updates from companies you are not following.
4. Virtuix surpasses $4M in reservations, making it the largest in SeedInvest history
We are excited to announce that Virtuix has surpassed $4M reserved – this is the largest reservations campaign in SeedInvest history.
Virtuix is the creator of Omni, an omni-directional treadmill allowing users to walk and run inside popular games and virtual worlds. The company has raised over $20M in capital to date from Mark Cuban, 12 venture funds including Maveron and Scout Ventures, and four previous successful SeedInvest rounds.
5. Revry, a SeedInvest portfolio company, launches first live queer women TV channel
Revry, a streaming network for the LGBTQ+ community and SeedInvest’s first LGBTQ-focused company, recently launched the first global LGBTQ+ virtual cable TV network, OML. OML on Revry is the first 24/7 live TV channel catering to queer women which includes those who identify as lesbian, bi, trans female, gender non-binary and queer.
LaShawn McGhee, Revry’s lesbian-identifying Chief Product Officer and Co-Founder stated, “This new queer womxn-focused partnership with OML – a tentpole brand for the lesbian and queer female communities – is an exciting expansion of our mission to meaningfully create a place of belonging for everyone in our community.”