Dash Labs, a company that claims to make any car smart, is the most recent cross border offering listed on two separate crowdfunding platforms.
Dash is currently seeking a raise of $4 million (min $750,000) at a pre-money valuation of $13.5 million. The offering is a Reg D 506c / Reg CF side-by side sale of preferred equity on SeedInvest. By using a side-by-side offering, Dash may raise an unlimited amount from accredited investors and up to $1.07 million from non-accredited investors. The per share price is $5.4105 with a minimum investment of $1000.
On Crowdcube, the offering page indicates a target funding amount of £599,700. Crowdcube is using a Nominee structure with investors purchasing a beneficial interest in equity in the US-based company.
Crowdcube and SeedInvest announced their unique cross border partnership in 2017 to extend the offerings to more investors. To date, the two platforms have cross listed several offerings but expect more to follow.
As for Dash Labs, the company claims to have had their app downloaded by 447,000 users in over 100 countries. Currently there are around 180,000 registered users, with 115,000 registered vehicles, who have driven over 75 million miles.
Dash’s initial consumer product is adding smartphone-based telematics features to make driving smarter, safer, greener, and more affordable. The app automatically creates a history of all your drives and provides feedback on your driving behaviour. By adding a compatible “On-Board Diagnostic” device that plugs into the car dashboard, Dash can also perform engine diagnostics and display engine sensor readings in real time.
Their business model is to work with enterprise partners and white-labeling our full technology stack.
Total revenue in 2017 was pegged at $1.7 million.
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