InGen Dynamics Inc, creator of the Aido home robot, released a statement today saying that it has successfully closed their “online mini IPO” on the 15th of April of this year. InGen raised funding using Reg CF or Regulation Crowdfunding as created by the JOBS Act of 2012.
Arshad Hisham, CEO of InGen Dynamics commented;
“The equity crowdfunding path has been an outstanding journey for our management team, stakeholders and avid supporters. We can now deploy these funds and start implementing our ambitious growth plans for further research and development, ecosystem engagement and to productize Aido for our community.”
InGen raised $289,333.41 on a goal of $49.8K to $1 million. The firm valued itself at $12 million. InGen said the offer was oversubscribed by 6 times with 346 investors participating from all over the world “making the offering a roaring success.”
The InGen campaign on StartEngine stumbled along the way as questions mounted regarding the company. At one point, StartEngine removed the campaign from its site during an internal review.
InGen Dynamics raised almost $900,000 on Indiegogo in 2016. InGen originally stated it would ship Aido robots in the fall of 2016 but campaign organizers have since announced that shipping of Aido robots has been delayed.
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