Overfunding: JOTO Secures £196,000 Funding Target During the Final Days on Crowdcube

Creative robotics pioneer and Kickstarter success Joto is set to close its equity crowdfunding campaign on Crowdcube with more than £200,000 thanks to nearly 350 investors. The company launched the campaign is September, seeking £196,000 as it prepares to expand.

As previously reported, Joto is on a mission to provide new ways for consumers to discover content with the convenience and instant availability of digital, displayed in ways which are fun, memorable and not reliant on a screen. Combining elements of robotics and artificial intelligence with pen and ink, Joto has developed a connected whiteboard that draws with a pen, live on request, sketching everything from works of art to messages. Joto founder Jim Rhodes, recently stated:

“Most of the content we love is stuck on our screens, and as a result so are we. We are reimagining a world, where people can feel connected beyond the screen. This is an exciting first step in the exploration of creative robotics for the home. Not the type to be scared of, but the sort you’d love to put on your wall.”

The company’s achievements to date include:

• Raised £362,000 through its reward-based crowdfunding campaign on Kickstarter
• Secured £100,000 seed funding from The Central Research Laboratory
• Accepted into Hardware Club
• Won the Public Vote in the Beazley Designs of the Year show at Design Museum in London earlier this year

Speaking about the campaign’s success, The Joto team stated:

“We’re absolutely thrilled to have reached 100% of our target raise this morning and to have over 300 investors joining the round. We’d like to extend a big, heartfelt thank you to each and everyone of our investors, for believing in us and for coming on board to take Joto to its next stage of growth.”

Funds from the Crowdcube campaign will be used to launch Joto’s hardware across more channels and regions, along with accelerating the development of the software platform, where users will be able to view and exchange content with peers and other content providers. The campaign will close later this evening.