The second Reg CF offer has closed on Republic following the first successful funding round by Youngry. RaceYa, a female oriented STEM company, raised over $88,000 from 173 investors. The funding goal was pegged at a $70,000 minimum. RaceYa offered the Republic’s “Crowd Safe” as a funding vehicle with a $5 million funding cap and a 25% discount for investors. The offer also combined perks with investment as backers at certain levels could receive RaceYa cars.
RaceYa created customizable radio-controlled cars to teach kids about Science, Technology, Engineering and Math (STEM). The company’s mission is to increase girls confidence in STEM by providing hands on activities to stimulate interest and interaction. The company was founded by Abigail Edgecliffe-Johnson who has a PhD. in Anthropology. She left a career in academia to launch RaceYa.
RaceYa will use the funding to complete the 3rd generation prototype and prepare for platform and product launch in 2017.
Republic was founded by AngelList alumni who believe that Angel investors can change the world. The platform has embarked on a mission to help facilitate access to capital for underserved communities, empowering founders to build companies that drive social change and economic value. Using Reg CF, as created by Title III of the JOBS Act, Republic allows small companies to raise up to $1 million from any investor – not just accredited investors.
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