Category Archives: Crowd Funding
Locker raises more than 1m in crowd funding round – The Irish Times
Irish sports start-up Locker has secured more than 1 million as part of a fundraising round on Spark Crowdfunding.
The Galway-based start-up set a goal of 1 million on the site, but has already exceeded that with several days left to run on the campaign.
The company, which was previously described by investors as Spotify for sport, plans to use the funding to add new features to its service, including video, expand its engineering team and increase the quality of the product
Founded in 2020 by Ross ODwyer, Brian Quinn, Andrew Pierse and Matt Steerman, the Locker app provides a single platform for fans to consume content on their favourite sports and teams from sources they trust.
The platform uses machine learning and trusted aggregation to compile content from hundreds of publishers. It covers a range of sports, from soccer, rugby, GAA and golf, to growing sports such as esports and cycling.
Conceptually, putting all your sport in one has always been our goal as a founding team, so were going to continue to deploy that into engineering, adding video and live sport into the app, releasing enhanced data, statistics, audio, he said. A lot of users have requested integration of sports betting, which is an interesting one, as we have to be open to what our users want.
Some of those new features could appear before the end of the year, he said, with work ongoing into enhancing features and improving the back end systems.
The crowd funding brings to more than 2 million the total raised by the company to date. A previous funding round in 2021 was led by Techstars Sports and the Western Development Commission, along with a range of media and technology investors from across the US and Europe.
What was interesting about crowd raising is the concept of advocacy and really getting users involved in the company and in the product, said Mr ODwyer. That concept of advocacy, and also allowing our users to be engaged with us as a founding team.
Mr ODwyer said the company was considering making the crowdfunding an element of future funding rounds.
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Locker raises more than 1m in crowd funding round - The Irish Times
The ROC Strikes Back At The Crowd Funding Model – Securities … – Mondaq News Alerts
18 April 2023
Pioneer Legal
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Start-ups and small companies in India are always on the lookoutfor viable sources of capital. At the same time, small investorsare interested in diversifying their portfolios and betting onpromising new ventures. This has led to the mushrooming of manyplatforms offering companies an opportunity to connect withinvestors to crowdsource their funding goals.
Equity crowdfunding is not explicitly regulated under Indianlaw. In light of this, the platforms have taken a considered viewthat so far as they and the companies using them comply with theprovisions of the Companies Act, 2013 and the applicable SEBIregulations, their activities would be permissible. Afterall, mostsuch platforms merely act as technology intermediaries connectingthe investors and the companies with each other.
However, a couple of recent orders passed by the Registrar ofCompanies, NCT of Delhi and Haryana("ROC") in the matter of AnbronicaTechnologies Private Limited and Septanove Technologies PrivateLimited ("Companies") have put thismodel of raising funds through crowdfunding under the scanner.
Background:
ROC Observations:
Order:
Conclusion:
Footnotes
1.Section 42(10): "Subject to sub-section (11), if a companymakes an offer or accepts monies in contravention of this section,the company, its promoters and directors shall be liable for apenalty which may extend to the amount raised through privateplacement or two crore rupees, whichever is lower and the companyshall also refund all the monies with interest as specified insub-section (6) to subscribers within a period of third days of theorder imposing the penalty."
2.Section 446B: "Notwithstanding anything contained in thisAct, if penalty is payable for non-compliance of any of theprovisions of this Act by a One Person Company, small company,start-up company or Producer Company, or by any of its officer indefault, or any other person in respect of such company, then suchcompany, its officer in default or any other person, as the casemay be, shall be liable to a penalty which shall not be more thanone-half of the penalty specified in such provisions subject to amaximum of two lakh rupees in case of a company and one lakh rupeesin case of an officer who is in default or any other person, as thecase may be."
3. https://www.sebi.gov.in/sebi_data/attachdocs/1403005615257.pdf
The content of this article is intended to provide a generalguide to the subject matter. Specialist advice should be soughtabout your specific circumstances.
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The ROC Strikes Back At The Crowd Funding Model - Securities ... - Mondaq News Alerts
Visakhapatnam: Former JD VV Laxmi Narayana of CBI goes for crowd funding to save Vizag steel plant – The Hans India
Visakhapatnam : The efforts of VSP to mobilise funds for repair of the blast furnaces and make them operational is taking several twists and turns. While the Telangana Government took a U-turn on its hyped decision to participate in the bid and invest Rs 5,000 crore, in a surprise move, former Joint Director (JD) of the CBI VV Lakshminarayana submitted an Expression of Interest (EoI).
The former JD's registration for the EoI was done through a private firm. Terming the Visakhapatnam Steel Plant as the pride of Andhra people, Lakshminarayana said that the plant needs to be protected from being privatised and hence he decided to participate in the bidding.
The VSP is still an infant, he said. He further said that the government may believe in 'clean shave' of the steel plant, but he believes in 'clear save' and that is the reason why he decided to pitch in. The next step, he said, would be focused on pooling of funds once the bid is declared qualified.
Talking about raising funds for the VSP, Lakshminarayana said that crowd funding and digital transfer systems would be considered. "Even if 8.5 crore Telugu people contribute Rs100 a month, it would help in saving VSP from strategic sale with a collection of Rs 850 crore within a few months," he added.
Making it clear that his move was not a political stunt, Lakshminarayana said his aim was to protect Rashtriya Ispat Nigam Ltd (RINL) from getting passed on to private players. If the bidding does not get qualified, still he would continue his fight in the court to protect it from being privatised, he stated.
He said, "Since there are a number of on-going infrastructure projects in Telangana, I have been requesting the Telangana government to get raw material from VSP to cater to their project requirements so that it would be a win-win situation. Also, I have met Telangana Chief Minister K Chandrashekar Rao and submitted a request towards this direction as well," he said.
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Visakhapatnam: Former JD VV Laxmi Narayana of CBI goes for crowd funding to save Vizag steel plant - The Hans India
#AlwaysWabash Highlights Our 10th Day of Giving – Wabash College
Wabash College is asking its campus, community, and friends around the world to join together in their support for students during its 10th annual Day of Giving on Wednesday, April 19.
Wabash has set as its goal to receive more than 5,010 gifts by midnight, unlocking more than $510,000 in challenge gifts for students and their life-changing education.
Combining the ideas of crowd funding, affinity challenges, and the buzz of social media, the #AlwaysWabash effort hopes to inspire participation and strengthen ties to the College.
I was particularly pleased to learn that the theme for the 10th Day of Giving is #AlwaysWabash, said President Feller. As I have traveled around the country this year, Ive met with alumni who graduated last year and some who graduated more than half a century ago, yet the stories they tell about their professors, classes, and teammates have the same familiar themes. That cements for me that young and old, near and far, we will always be for Wabash. Always.
Donations made on the 10th Day of Giving will help deliver the Colleges enduring and transformational liberal arts experience to students.
On Wednesday, the Wabash campus will enjoy a variety of events throughout the day to inspire excitement and engagement, including lunch and activities in Chadwick Court and an afternoon gathering on the Stephenson Plaza at Little Giant Stadium.
Alumni across the country will also be hosting get-togethers and after-work socials.
Last year, the College broke records on its ninth-annual Day of Giving, receiving 5,307 gifts and raising more than $1.4 million. In the 24-hour fundraising effort to support students, the Wabash Nation broke records for total amount raised and the average amount raised per student, $1,744, which was $100 more per student than the 2021 figure.
Anyone can participate in the 10th Day of Giving by following these four steps: make a gift, convince others to do the same, spread the word through your social networks with the hashtag #Always Wabash, and enjoy the excitement and success.
To make a gift, visitwww.wabash.edu/always or call 877-743-4545.
Gifts made on the 10th Day of Giving will be allocated to the Annual Fund, unless otherwise noted in the comments section on the giving form found on the website. Those gifts also count as contributions to the Giant Steps Campaign, the largest fundraising campaign in Wabashs 191-year history.
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#AlwaysWabash Highlights Our 10th Day of Giving - Wabash College
The Owners Of The Apollo Theatre Launch A Crowdfunding … – CelebrityAccess ENCORE
BELVIDERE, IL (CelebrityAccess) The owners of the Apollo Theatre in Belvidere, Illinois, announced the launch of a GoFundMe campaign to help rebuild the venue after it was severely damaged by a tornado.
The tornado struck the theater on March 31st during a concert featuring the metal bands Revocation, Morbid Angel, and Skeletal Remains.
The storm inflicted serious damage to the building, including the removal of parts of the theaters roof and left one person dead and at least 48 people with injuries.
The Martinez family, which owns the venue, said that the insurance payout will not cover the cost of needed repairs at the theater. They decided to launch the GoFundMe campaign after multiple individuals approached them about making a donation to help the theater recover from the tragedy, the family said in a statement on the GoFundMe page.
They also noted that they were hesitant to launch a crowd funding campaign to support a restoration of the venue over concern that it would detract from support for the families of those who were killed or injured in the tragedy.
Since 2001, the Apollo has brought diversity to the town by being the chosen place for people to celebrate special occasions and watch their favorite bands perform. The Apollo means so much to our family and to our community. We are so humbled by the outpouring of love and support. We are committed to bringing back this beloved historical landmark and any money donated to this fund will go towards the theaters restoration and the staff members while the Apollo is being rebuild, the family said in a statement.
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The Owners Of The Apollo Theatre Launch A Crowdfunding ... - CelebrityAccess ENCORE
Scriptwriter Vipul K Rawal Turns to Crowd Funding to Protect His … – Business Wire India
Mumbai, Maharashtra, India: Following the success of his previous film "Tony" under the innovative "Pay only if you like the film" business model, writer-director Vipul K Rawal is excited to announce his next project, which will be funded through a crowdfunding campaign.
"I could have easily sold that story for a massive amount to any established producer or studio, but I am sure they would have spoilt my script as they have done in the past. Moreover, I dont want these brokers to earn lifelong from my creativity any longer. It is high time for a change in Bollywood and I strongly feel that a massive disruption of the existing system is needed. I am therefore thrilled to partner with genuine cinema lovers to bring this project to life, on my terms and conditions," said Rawal. "After the overwhelming success of our previous project, we are confident that our audience will continue to support our work and help us bring this new film to the big screen. More than 1500 people had donated to our previous film TONY and since I had a ready database of genuine cinema lovers I tapped them first and I have already received pledges worth several lakhs rupees from them."
The campaign, which launches today, offers an opportunity for fans of Rawal's to support the upcoming film and become part of the production process. Investors who contribute a minimum of Rs. 10,000 will receive a share in the film's profits and the designation of Associate Producer in the credits.
Rawal is a critically acclaimed writer-director in the Indian film industry, known for his thought-provoking storytelling and dynamic characters. His company Whitewater Entertainment aims to produce meaningful and world-class cinema that focuses solely on the strength of its content. His previous work includes the award-winning film Iqbal, "Mumbai Varanasi Express", "Batti Gul Meter Chalu" "Rustom" and the critically acclaimed TONY that Rawal made on a shoestring budget of 75 Lakh rupees and released on YouTube. Rawal is excited to bring his unique vision to this new project and is confident that it will resonate with audiences around the world.
For more information on the crowdfunding campaign, please visit the official website at http://www.whitewaterentertainment.in and go through the FAQs or send an email to [emailprotected] or call on +91-9987639426 to talk to him personally.
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Scriptwriter Vipul K Rawal Turns to Crowd Funding to Protect His ... - Business Wire India
The Unconventional Means Of Capital Acquisition: Crowd Funding – Asia Business Outlook
The primary objective of any established business is to generate profit which will be used to sustain and develop it. But, before that, for any business idea to translate into an executed venture, it needs capital to start and operate in its early stages before any profit is generated. There are multiple ways a business can raise funds. The first option they consider is bootstrapping, which is using their personal savings or pooling money from friends and family, the second is to get a loan from banks and the third is to get an angel investor or venture capitalist on board by giving them some stake in your business. But the arrival and acceptance of internet has added new avenues for raising funds. You can campaign on the internet for capital, and the users depending on their favorability of you, will provide you with funds.
New Funding Entrant
Crowd funding is a recent idea in the area of investment when taken the history of business as a scale. Not everyone can get access to a venture capitalist who aligns and understands the value of their idea.And asking large sums of money from family/extended family or friends is a hard task which creates a feeling of unease in the long run. The internet can arguably be called the best thing humanity has ever conjured. The internet gives you access to theoretically limitless opportunities for getting resources for your business, it has grown to such an extent that you can conduct a large scale operation without leaving the comforts of your home via the internet. A lot of niche businesses which were not understood by the traditional businessmen or those which flew under the radar for its time, found their golden goose on the internet where they got funded by the interested parties across the internet.
Low Realisation Barrier
The grandeur of crowd funding lies in its limits, no amount is too small, a user if he really wants to see the business thrive he can spend as little as he wants without hurting his own bottom line while simultaneously aiding the product development of the business he likes. Crowd funding is the literal personification of little drops of water make a mighty ocean. Numerous donors donating little amounts to a product they really like goes a long way for the businesses.
Popular crowd funding platforms like Kickstarter and Indiegogo have aided innumerable amounts of businesses, not just the traditional ones but even gaming companies. The most famous one in the past decade, Undertale by Toby Fox was also a crowd funded venture. Pebble, an innovative smart watch was also a crowd funded product. Crowd funding is a boon for those who make products which cater to niche audience. The crowd funding tactic allows marketing by word of mouth, fans on the internet will share that with others who are in the same niche by means of social media, there are tons of products which got their desired funding amount virtually overnight.
The Methodologies
There are various ways in which a crowd funding can be done. Firstly, the business can pitch the idea in its early stage and backers (this is the term used for people who fund the project) can invest and the business can take this amount and build their product, and they can deliver the product first to their backers when it is completed. The complex ones operate like standard businesses which are subject to financial authority of the territory it is based in, and every backer is subjected to receive a return on investment proportional to their investment. This results in a hefty shareholder base which is similar to retail investors and venture capitalists.
Alternate Contributions
Crowd funding has also served nonprofit causes too, the internet has a way of rallying people together to help catastrophe-struck areas from any corner of the world to aid the affected area. This method has proven itself as a fast efficient way to provide capital in those cases as there is no national barrier and funds can be distributed directly to the impacted area.
Like all investment instruments, crowd funding also has its flaws, but it should not be entirely defined by that, everything serves its purpose. With the saturation of startup and venture capital markets, the competition to accessibility to capital is increasing and aspiring business owners have to resort to new avenues and present themselves to the consumers in innovative ways to provide them with capital.
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The Unconventional Means Of Capital Acquisition: Crowd Funding - Asia Business Outlook
CarousH3ll Crowd Funding and Exclusive Cast Reveal – Horror Society
From the Kickstarter page:
Welcome to our goal of completing our planned CarousHELL trilogy. A lot of folks loved 1 and 2, so we really want to bring you to the ending of this arc for Duke. This doesnt mean this is definitely the LAST CarousHELL film forever, but we want to give an ending to this specific journey Duke has been on since the first film.
Us writers (Aleen Isley & Steve Rudzinski) have put together what we feel is a AMAZING part 3 in this story, one again exploring entirely new themes and ideas that havent been seen in the CarousHELL series yet. We have some fun turns, great characters, and in our test read throughs everyone has agreed on this being a great ending for the trilogy.
The extremely talented Autumn Ivy is signed on to provide the voice for our newest villain, Usagi. Usagi was a volunteer for Ilsas experiment and her soul is housed within a carousel rabbit. What are her diabolical plans? What makes her such a threat to Duke?
Joe from CarousHELL 1 also officially has returned, as shown in the mid credits scene of CarousHELL 2. Joe is another character Duke will deal with, as he is hyper focused on getting revenge for the death of Otis.
Production wise Scott Lewis is on board to shoot this film again, after helping us make CarousHELL 2 and Shingles the Movie look amazing. Steve Rudzinski will be the one mostly in the editors seat on this film, though he already has said hell probably ask Scott for some help with some of the scenes.
Cody Ruch is already signed on to create the effects and puppets for this film so you know the gore will absolutely deliver.
We are asking you, the fans, to help us complete this third chapter and give you the story conclusion Duke (and the rest!) deserve.
Since every kickstarter Ive run has only just hit our goals I dont currently have any stretch goals planned. If the numbers leap that will change, but for now Ill just say:
Getting a bit extra will just go towards making parts of 3 even better. More effects, more bodies in the planned action sequence, better locations.
If we hit $30,000, I will also make CarousHELL 4 and upgrade everyones tiers to include a physical copy of that film (and any assigned credits, folks who die in 3 will get an Executive Producer Credit on 4).
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CarousH3ll Crowd Funding and Exclusive Cast Reveal - Horror Society
Crowd Funding winner announced – News – Scunthorpe United
Andy Theaker has been randomly drawn out as the winner of our Crowdfunding campaign which was in place throughout February.
The Crowdfunding campaign was launched ahead of the Irons first signing under new ownership, which ended up being Nottingham Forest loanee Billy Fewster, with the player spending the entirety of February sponsored by the 12th Man.
Following the 19-year-old's return to Forest, United will be contacting Andy to offer an alternative vacant player to sponsor.
A total of 3915 was pledged to the club throughout the campaign which, following deductions due to tax and platform fees, saw just under 3500 raised.
The funds raised have contributed to improved equipment and facilities to the first team environment, with an order placed for new equipment in the gym which will further enhance what players are able to do on-site.
Supporters had the opportunity to maximise their chances of winning, with 5 giving one entry, while 10 gave three entries, 20 gave seven chances and 30 entering the pledgers name on ten occasions.
In total, the Iron had 274 pledgers in the campaign, with a total of 1245 entries created for the draw. The draw took place on a random wheel generator, with one of Andy Theakers ten chances coming out as the winner.
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Crowd Funding winner announced - News - Scunthorpe United
Warm Spaces, The Cotteridge Church – a Community crowdfunding … – Crowdfunder UK
We are a community cafe at the heart of the Cotteridge community. We have a fantastic team of volunteers and also employ a cook and an assistant cook. We provide freshly cooked hot meals, snacks and hot drinks. Our regular customers, from the very young to the very elderly, are known by name and find friendship and support. With the cost-of-living crisis our Warm Spaces project is to extend our opening hours, offer free hot drinks and toast and signpost services such as energy saving advice, foodbanks and community workers.
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Our Warm Space Cafe provides a gathering space within the heart of the Cotteridge community. People come in for a meal or hot drink but find so much more. They find friendship or can sit quietly within a safe warm space. There are opportunities to join in community activities such as knit and natter, a stay and play group, coach trips for the older people who often live alone (at Christmas we ran two coach trips as they were so popular taking 60 people altogether for a day out).
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We are crowd funding because we are committed to providing the very best experience in our Warm Space Community Cafe. We are planning to extend the menu to provide healthy choices and to meet the dietary needs of our customers. . We have many families who regularly come to our cafe and we want to make our menus more appealing to children. Our kitchen also provides daily hot meals for our members of our Older Adults Day Care Centre. We need to replace some of our kitchen equipment and crockery. We would like to improve the ambience with new aprons for our volunteers, new tablecloths, newspapers and magazines. We also need to improve our marketing with new signage and a menus board. Our ongoing staffing and energy costs are prohibitive but nevertheless we have a vision to gorw and expand what we offer in the way of a warm welcome space.
Many of our regular customers have wide-ranging needs and vulnerabilities. The cost-of-living crisis has hit many in our community very hard. Whoever comes into our Warm Space deserves the best we can provide. We aim to improve the quality of every individual's life as well as helping to create a healthy community
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The money raised through crowd funder will go towards our ongoing expenditure. We have staffing costs - a cook and assistant cook, our energy bills are enormous although we have an active eco group helping us to conserve energy, and then there are the food and drinks bills. Any financial support through Crowd funder will help us to pay our way as we seek to provide the best we can in our Warm Space in Cotteridge.
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Warm Spaces, The Cotteridge Church - a Community crowdfunding ... - Crowdfunder UK