Boxabl Returning to StartEngine, Receives $2.5 Million in “Reservations”

Pre-fab home firm Boxable is looking to raise more money online on StartEngine. As was previously reported in May, Boxable revealed its intent to raise capital by raising money in a Reg A+ and Reg D offering as well as a pitch on FrontFundr in Canada. The Reg A+ offering on StartEngine is said to have $2.483 million in “reservations” from 1088 individual investors.

Boxable previously listed a securities offering on both StartEngine and Republic, with the bulk of the funding arriving from StartEngine. In total, to date, StartEngine reports that Boxable has over $140 million from more than 40,000 investors. Boxable has raised money using Reg A+, Reg CF, and Reg D. The last Reg CF filing indicates the company raised funds at a pre-money valuation of $3.36 billion. As the offering documents for this new round have yet to surface, it is not clear at what valuation Boxable will raise money.

Responding to a potential investor on FrontFundr, the company commented on its valuation:

“Boxabl is not a small project or a tiny house company. We are going BIG. In fact, we are aiming to raise $1b to build the largest house factory in the world. If you bet on Boxabl, you are betting on a huge disruption in the way all buildings on the planet are built. This is one of the largest markets in the world at trillions of dollars. The Boxabl pitch is to transition all the world’s buildings out of a pre-industrial state and into a Boxabl factory. We believe that as the days go by we get closer and closer to proving that we can mass-produce housing faster and at a lower cost than anyone else. We think once we prove this that resources roll in fast to scale this vision. This is a SCALE play that will require massive amounts of capital to achieve.”

Boxable states there is a waitlist of 170,000 for one of its “casitas” as well as a small order from the US military of 156 homes.

Issuers raising money using the Reg A+ securities exemption may take advantage of the opportunity to “test the waters” to gauge investor interest prior to actually raising the money and issuing securities.