Kiwi investment crowdfunding platform Snowball Effect has just shared their most recent investment opportunity, “Aeronavics” has zoomed past the $1 million NZ mark and can now claim to be the “largest ever” equity crowdfunding campaign in New Zealand. Aeronavics is a top zone designer and manufacturer that claims big name customers like NASA, Disney and Dreamworks. The original raise was to generate $750,000 NZ – a hurdle that was beat in just three days. The offer closes on March 14 and has set a maximum amount of $1.5 million NZ for a 15% ownership stake in the company. Today just under 200 investors have committed to invest. Pre-money valuation stood at $8.5 million NZ.
Aeronavics general manager and director Linda Bulk explained she is delighted with the response so far.
“The popularity of the raise has definitely exceeded our expectations, both in terms of the pace investors have come on board, and the amount raised.
“What’s really exciting is that exceeding our initial target will allow us to bring our growth plans forward. We’ll be able to develop products in our R&D pipeline earlier, which will widen our range of solutions, boost and streamline our production capabilities and give us a real edge in this global market.”
Snowball Effect representative Shaun Edlin, commented on the achievement of topping one million;
“This is the first ever equity crowdfunding offer in New Zealand to surpass the $1 million mark, and is also the fastest raise on the Snowball Effect platform so far. We’re thrilled for the Aeronavics team, who are now aiming to hit the $1.5 million overfunding target.”
This is the fourth offer hosted by Snowball Effect, all of which have achieved their funding targets. The previous three successful offers were: Renaissance Brewing ($700,000), The Patriarch ($488,800) and CarbonScape ($764,302).
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