Ammo² (or AmmoSquared) has closed on a crowdfunding round on Wefunder raising approximately $313,000 at a $4.49 pre-money valuation. Investors received preferred stock in the company.
Started in 2015 by husband and wife team, Ammo² has generated over $1m in revenue to date through its ammo subscription service. The service is available at an interesting time as in some parts of the country ammo is hard to purchase due to heightened interest in guns driven by the COVID-19 crisis. During the current ammo shortage, AmmoSquared customers were able to receive their ammo without issue.
The company said that the capital raised will be utilized to improve their current technology, build a more user-friendly platform, provide customers with more specific subscription options while increasing the current offering of 88 calibers to over 200, including calibers that are hard to find.
Dan Morton, CEO of AmmoSquared said it was a personal goal to open the business to smaller investors through equity crowdfunding.
“Many of our investors are also customers who saw the value of the service before anyone else did and so as new owners in the company, can now take part in our rapid growth.”.
The company said that recently subscriber growth has increased over 200% from 12 months ago with a 27% increase in just the last three weeks alone.
AmmoSquared is still accepting accredited investors – if you are interested. More information is available here.
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