VC backed and Kickstarter alum Kokoon has successfully surpassed more than £1 million during the final days of its equity crowdfunding round on Crowdcube. The sleep device company launched the initiative last month raised its £750,000 funding goal during the first week.
As previously reported, Kokoon is seeking to bring the world better sleeping habits with its relaxation headphones. The startup explained after three years of development working with premium acoustics brand Onkyo, it has created what it believes is the world’s first headphone and mobile app designed to aid sleep and relaxation. EEG sensors, an established approach to sleep measurement, will measure brain activity to understand how users respond to our audio and automatically adjust in response. It raised $1,936,825 on Kickstarter for the headphones in 2015.
“We’ve had encouraging early traction with over £2.8m in pre-order sales and over 16,000 units ordered. We have interest from major retailers, distribution agreements signed and are progressing partnerships with two airlines.The hardware development process is over and we’re ready to manufacture. We are raising growth capital to launch our headphones in the UK and abroad, as well as expand our team. Our existing institutional investors have committed to invest in us again, but we want to give those passionate about Kokoon the chance to invest and join our mission.”
While sharing his thoughts on the Crowdcube success, Kokoon’s Tim Antos stated:
“A quick message from me to say I’m thrilled we passed £1m on Wednesday from over 670 fantastic new investors and are already well on the way to £1.1m. Thank you to all of you, we greatly appreciate the support from you on our mission to bring the world better sleep. We are going to keep over-funding to the end of the campaign so there is still time if you know others who might want to get involved.”
Funds from the campaign will be used to continue Kokoon’s expansion. It is set to close next Tuesday.
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