WiGL: First Issuer to Raise $5 Million Reg CF Funding Cap on StartEngine, Returns to Pursue Reg A+ Funding Round

In 2021, WiGL became the first issuer to raise the maximum $5 million in a Reg CF (Regulation Crowdfunding) on StartEngine. In 2021, the Securities and Exchange Commission increased the amount a company could raise using Reg CF from $1.07 million to $5 million – in recognition that the exemption would appeal to more established firms (lower risk) and the fact that many seed rounds need far more than a million dollars. Many platforms, including StartEngine, quickly saw issuers hit the new funding cap.

Today, WiGL is returning to StartEngine seeking to raise up to $20 million in a good example of an issuer pursuing a series of funding rounds via a securities crowdfunding offering.

WiGL has already raised just under $4 million, backed by 2510 investors. WiGL is selling equity in the company at a pre-money valuation of $146.59 million.

The Offering Circular for WiGL is viewable here.

WiGL is a company that is engineering technologies for consumers to cut the chords and wires to access electricity to power their devices while they use their devices wirelessly.

WiGL has already demonstrated its ability to provide wireless power over 3 feet with a single transmitter.

The technology has caught the eyes of the military, and WiGL entered into a contract with the Department of Defense to test the product.

WiGL acknowledges that the technology is still in the very early stages of development but interest in near-field and far-field wireless power is known and growing.

The company’s vision is described as f0llows:

“Imagine getting electric power the same way we wirelessly get to the internet. WiGL allows for powering or recharging devices using our over-the-air wireless electrical power network. We aim to power consumer, business, and technical devices on the move, or recharge batteries while using those devices. Our vision is for people across the globe to simply ask, “how do I get on your WiGL network?” WiGL intends to be the most widely recognized brand name for all things related to wireless power delivery.

We envision a future of WiGL everywhere, from your home kitchen to city hall. Imagine a world where essential power is made available worldwide via WiGL-enabled transmitters embedded in streets, on light poles, and TVs, powering everything from your Christmas tree to cell phone cases to military devices. Imagine a world where WiGL’s competitors become partners that make and sell WiGL-enabled products to enable seamless meshed networks of WiGL touchless wireless power on the move.”

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