Earlier this week, eVTOL developer Airspace Experience Technologies announced its fundraising campaign on SeedInvest. So far, ASX has raised over $200,000 with the number steadily rising.
SeedInvest is an online fundraising platform where anyone, not just SEC accredited investors, can invest in companies they believe believe in. The company works similarly to the well-known Kickstarter.com, except that rather than pre-ordering the product, investors get a small share of equity in the new company. ASX has a pre-money valuation on SeedInvest of $25,000,000, though the final value of the company will depend on the level of investment. If you’d like to learn more about investing in ASX, click here for the ASX SeedInvest campaign page.
Airspace Experience Technologies will use proceeds from its Series CF and Regulation D fundraising campaigns to acquire key automotive EV technology, build a series of full-scale prototype and initiate Federal Aviation Administration (FAA) certification.
Said ASX CEO Jon Rimanelli: “SeedInvest is disrupting the financial services industry just as ASX is disrupting mobility, and we were proud to be accepted through SeedInvest’s rigorous evaluation process”
Airspace Experience Technologies is one of the many emerging eVTOL companies hoping to make urban air mobility a reality in the world’s major cities. ASX is currently based in Detroit, Michigan in the United States, and planns to deliver 2,500 aircraft by 2025, with cargo deliveries starting in 2023 and passenger service by 2024. For a full overview of the ASX aircraft and the company’s vision, go to the ASX MOBi-ONE Aircraft page on TransportUP.
Why its important: Urban Aviation solutions are bringing forward revolutions in both transport and startup funding. ASX’s SeedInvest campaign marks the second crowdfunded UAM company, joining XTI Aircraft on Startengine.com. The combination of these two innovations in the startup world gives investors a unique opportunity to invest early in the rapidly growing urban air mobility industry.