SeedInvest’s Weekly Highlights: New SEC Investor Accreditation Rules & More

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Top 5 Weekly Highlights

SeedInvest Weekly Highlights is a roundup of a selection of 5 deal updates, key milestones, portfolio company news, and more from the prior week.

1. Gatsby reports record trade volume in November fueled by industry growth

This past November Gatsby achieved its highest trading volume month since inception, representing a 14% MoM growth from October. The company also broke an all time record for trades placed in a single day on November 25th and an all time record for new accounts in a single day on December 4th.

Gatsby Co-CEO Jeff Myers notes, “the increase is caused by a number of factors including obviously the pandemic and election induced volatility, but it’s important to note that even absent this, 2017, 2018, and 2019 were all record years for options contract volume, representing a larger trend.”

Gatsby has surpassed $1.9M raised, is successfully funded, and is still accepting investments towards its $5M Series A round.



2. SEC adopts amendments to expand the definition of accredited investor

The U.S. Securities and Exchange Commission (SEC) recently adopted amendments to Rule 501(a) of Regulation D under the Securities Act of 1933, which expands the definition of “accredited investor”.

The Final Rule permits a greater number of investors to participate in private offerings by, among other things, formally including knowledgeable employees as accredited investors, broadening the accredited investor definition with respect to certain entities, such as family offices and limited liability companies, and extending the definition of accredited investor to include certain licensed professionals.

Find out if you qualify as an accredited investor and update your SeedInvest profile below.




3. AT&T projects 50% reduction in wireless network inspection costs using Optelos

Multinational telecommunications conglomerate AT&T began using Optelos’ proprietary AI-powered platform for digital asset inspection in late Q3 2020 to provide inspection and analysis of AT&T’s wireless network. Through this collaboration alongside other service providers, AT&T is projected to lower its inspection costs by 53%, and reduce its asset inspection time by over 42%, compared with their previous manual process. Optelos has completed inspections over multiple AT&T sites, providing drone flight services, 3D models of the towers, and data analysis.




4. Carson Life returns to SeedInvest with over $2.5M in revenue in 2020 alone

Carson Life, producer of health and beauty products focused on the Hispanic market, has returned to SeedInvest for its Bridge raise after its initial successful raise in 2019. This round is limited to accredited investors.

To date, the company has achieved $2.5M in 2020 total revenues, already surpassing its previous achievement of $2.1M total revenues in 2019, achieving 410% growth in DTC sales ($1.4M in 2020 compared to $274K in 2019) (unaudited). With the funds raised from this round, the company plans to launch new products, focus on the expansion of its direct to consumer channel, make some key hires, and increase marketing. Carson Life’s CEO will be hosting a kick-off investor webinar this Monday, December 21, 2020 at 4pm ET.




5. SeedInvest portfolio deal, Knightscope, deploys autonomous security robots at Houston Airport

Knightscope, developer of advanced physical security technologies utilizing fully autonomous security robots (“ASRs”), has announced its deployment at the Houston Airport. According to the update, a pair of Knightscope K5 ASRs are now patrolling 24/7 at the George Bush Intercontinental Airport. In addition to enhancing safety and security, the deployment is planned to include robot-traveler interaction for assistance with vehicle issues such as dead batteries, flat tires and lockouts.





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