Elio Motors, a car company that is known for its success on equity crowdfunding platform StartEngine, has been named Los Angeles Auto Show’s 2015 Top Automotive Startups.
The car brand, which was created by automotive enthusiast Paul Elio, made the list and will be featured at the Connected Car Expo (CCE) on November 17th. Elio is considered the only automaker on the list.
The CCE Advisory Board chose the companies based on vision, innovation, unique perspective and the likelihood of technology adoption and success. The Top 10 are considered true standouts among an increasingly crowded field of technology companies emerging in the automotive space.
The Advisory Board is comprised of senior executives from companies including Aeris, AT&T, City of Los Angeles, Elektrobit, Ellis & Associates, Google, Microsoft, Mobile Electronics Group, NVIDIA, Pandora and Strategy Analytics.
Andy Gryc, CCE Conference Director, stated:
“The startups being honored as this year’s Top 10 are truly innovative and are enhancing the automotive and tech industries to change the future of transportation,” said “We’re excited to introduce these companies at CCE in front of our audience of media, industry experts and automotive thought leaders.”
Elio Motors listed its potential equity crowdfunding round on June 19th – the very first day the new Reg A+ exemption became actionable. The listing set a goal of generating $25 million in investor interest – not a small amount. Today over $36 million of indicated interest has been registered on the crowdfunding platform StartEngine.
According to the listing, 9,720 “reservations” have been made – an average per reservation of about $3600.00. While there has been a good amount of debate as to whether Reg A+ will achieve the full potential of equity crowdfunding, without limiting to accredited investors, so far – the early results have been positive.
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