Market News - July 28, 2020

Wefunder Hosts Demo Day for COVID-19 Accelerator

The COVID-19 pandemic has been felt in every facet of life, startup investing included. Telehealth and telework companies have seen markedly increased popularity. And the inability to meet with potential investors face-to-face has made Reg CF and Reg A+ offerings more attractive for many startups. 

At the start of the pandemic, the XX Team began their Fight the Virus challenge. The XX Team is a startup accelerator that was built by Wefunder (but is not run by the platform). It’s made up of previous startup founders who want to help current founders find success. Their Fight the Virus challenge was created as a way to fast-track startups that were addressing problems created by the coronavirus outbreak. 

The response was strong. Over 2000 founders applied. From those thousands, XX chose 17 startups to receive an initial $50,000 investment. They also mentored the founders from April to June, working with them to make their ideas a reality. 

Now, all that work is coming to fruition. Today, Wefunder is hosting a Demo Day for the 13 startups that are ready to raise. You can check out each of the companies, which range from edtech to robotic food delivery to mobile diagnostic laboratories. You can also meet each company’s founders through short videos. 

This is a great collection of companies that are addressing the problems of today with creativity and passion. 

About: Aryelle Young

Aryelle Young is a published writer and editor with experience across industries. She has worked with an independent publishing company and as a proposal writer for a government contractor. Her original work has also been published in various journals and one short story collection. At KingsCrowd, she strives to provide insightful and actionable content for all readers. Aryelle graduated with a Creative Writing degree from George Mason University.

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