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The DeepSpeed JetSki collected 400,000 in a few hours from the launch of its crowdfunding campaign

In its second equity crowdfunding campaign, Sealence, a startup that is developing the DeepSpeed marine jet, has surpassed the minimum target of 300,000 and is now aiming to raise $2.4 million (€2 million). Sealance’s crowdfunding campaign is part of a $8.5 million (€7 million) round launched by the company, which is already in advanced negotiations with some Italian and foreign funds in this regard.

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Sealence, an Italian startup that developed the DeepSpeed electric jet for naval use, launched an equity crowdfunding campaign on December 2nd, with a minimum target of $364,000 (€300,000) (equal to a share of 0.9% of the capital). 

The campaign, active on the Italian crowd investing portal listed on Piazza Affari CrowdFundMe, has already raised over $486,000 (€400,000) in the first day of the campaign, thanks to 64 investors who have invested at least the minimum amount of $3,425 (€2,820). DeepSpeed, with a current pre-money valuation of $40.7 million (€33.5 million) (only a year ago the valuation was $6 million (€5 million), in a note to its followers, also stated that, in the first 24 hours after the launch of the campaign, the investment orders, waiting to be confirmed with the relevant transfer, exceeded $1.34 million (€1.1 million).

The company, which plans to be listed on the stock exchange in the next 3 years, is now aiming for a maximum target of $2.4 million (€2 million) in funding.

Find more details about the successful crowdfunding campaign of the company Sealance and read the latest business headlines with the Born2Invest mobile app.

On the occasion of the current campaign, Sealence has been transformed into an SpA

Through the crowdfunding subscription, shares will be purchased with a minimum investment quota of $3,425 (€2,820), corresponding to a lot of 1,000 shares. People interested will be able to invest, upwards, with multiples of 100 shares at a time (e.g. 2,820 – 1,000 shares, 3,102 – 1,100 shares, etc.). 

The crowdfunding equity campaign on CrowdFundMe will have the traditional duration of 2 months, with a first window of 20 days to allow the entry of investments and the deposit of the membership list at the Chamber of Commerce by the end of the year and try with this timing, to encourage investors to access the tax deductions for 2020. In addition, those who will subscribe to the first $364,000 (€300,000) of the online collection will be entitled to receive warrants, thanks to which they will be able to purchase shares at a discount in the following rounds.

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The funds raised through the campaign will be used, among other things, to accelerate and finalize the development and testing of jets; start the certification process preparatory to their commercialization; extend the international patent protection of the technology; invest in marketing and communication strategies.

Sealance’s crowdfunding campaign is part of a $8.5 million (€7 million) round launched by the company, which is already in advanced negotiations with some Italian and foreign funds in this regard. 

This is the second crowdfunding equity campaign on CrowdFundMe for Sealence, after that of October 2019, which raised $547,000 (€450,000) on the CrowdFundMe portal. In addition, Sealance has placed, in full lockdown, a $607,000 (€500,000)  mini-bond conversion, which was offered to all partners, including the 126 investors of its first equity crowdfunding campaign.

Following the first campaign, the startup accelerated the engineering phase, started a PhD at the University of Padua (one of the three partner universities of the jets) and hired 10 people – mainly designers and engineers – including CTO Marco Cassinelli, former technical director at MV Agusta, with a background as a designer at the highest levels in Alfa Romeo, Lamborghini, Audi, Maserati, alongside the scientific director of the DeepSpeed project, Prof. Ernesto Benini.

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(Featured image by dimitrisvetsikas1969 via Pixabay)

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Suzanne Mitchell juggles the busy life of a full-time mom and entrepreneur while also being a writer-at-large for several business publications. Her work mostly covers the financial sector, including traditional and alternative investing. She shares reports and analyses on the real estate, fintech and cryptocurrency markets. She also likes to write about the health and biotech industry, in particular its intersection with clean water and cannabis. It is one of her goals to always share things of interest to women who want to make their mark in the world.