BatteryXchange
About this raise
BatteryXchange, with a $4 million valuation cap, is raising funds on LocalStake. The company has created an on-the-go charging solution in the form of mobile chargers. The product of BatteryXchange has been tested over the past year and is ready to come to the market. BatteryXchange will cater to special event venues like convention centers and sporting arenas and will have charging kiosks at bars and restaurants. The company was founded by Desmond A Wiggan Jr. and Aubrey K Annoh-Yeboah and has raised over $125,000 since its inception. The proceeds of the current round of crowdfunding, with a minimum raise of $86,000 and a maximum raise of $716,000, will be used for product development, inventory building, hiring, marketing and sales, and location buildout. BatteryXchange has conducted 25 pilots at various events, conferences, bars, and restaurants, and already has over 1,000 users.
Investment Overview
Invested : $113,975
Deal Terms
Total Commitments
- Platform
- Localstake
- Start Date
- 10/28/2019
- Close Date
- 10/27/2020
$86,000
$716,000
$250
Convertible Note
Early Stage
RegCF
$4,000,000
20%
Company & Team
Company
- Year Founded
- 2019
- Industry
- Consumer Products, Goods & Services
- Tech Sector
- Distribution Model
- B2C
- Margin
- Low
- Capital Intensity
- Low
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Funding history
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 10/27/2020 | Localstake | $4,000,000 | $113,975 | Convertible Note | Funded | RegCF |