StartEngine Issuer Milestone: Elio Motors Raises Nearly $16 million in Ongoing Equity Crowdfunding Campaign

By   Partner at StartEngine, CrowdFundBeat Guest Post.

This week StartEngine announced that partner issuer Elio Motors has raised nearly $16 million in funding via Regulation A+ equity crowdfunding, making it the most successful such raise to date. This amount substantially surpasses the $12.6 million needed to finance the engineering and testing of the company’s E-Series prototype. Elio has attracted attention from investors and the media alike as it strives to alter the course of transportation with its innovative 3-wheeled vehicle. The funding round will close on February 1st, so the opportunity to invest in this progressive company at a ground floor level is still open – but closes soon.

A dual revolution is underway, both in the worlds of transportation and entrepreneurship. Elio Motors, by choosing to finance the development of its low-cost, versatile vehicle through an equity crowdfunding offering, is at the forefront of both these trends. In addition to keeping the company on course to launch a new era in personal automotive transportation, the tremendous reception for Elio’s raise proves that there is public demand for the type of opportunities crowdfunding can provide.

Elio Page Assets-v2_7_The Facility

 

The success of Elio’s offering puts the company on track to reach its development goals, including a scheduled 2016 production launch of its E-Series vehicles. It also validates the concept of Regulation A+ equity crowdfunding, which stems from the passage of the JOBS Act in 2012. The SEC’s issuance of final rules for raises under Reg A+ in June of 2015 opened the gates for offerings such as Elio’s to reach the public.

By allowing non-accredited investors the chance to invest in opportunities that previously were restricted to venture capitalists and private equity firms, Reg A+ promised to democratize the funding process; the fact that the Elio Motors offering was able to exceed its funding goal provides proof that the measure can and does work.

The headway achieved by Elio demonstrates that StartEngine has the capability to help entrepreneurs truly realize their dreams. This will inspire thousands of entrepreneurs to follow the path that Elio Motors has blazed on the StartEngine platform. The company’s vehicle, with an expected base price of $6,800 and the capacity to get up to 84 MPG, represents a new paradigm for the transportation industry; one that the company hopes will help wean the country off its oil dependence as well as provide low-cost transportation.

Elio plans to produce the namesake vehicle in a former GM plant in Shreveport, Louisiana. It estimates more than 1,500 workers will be employed at the plant, with an additional 1,500 jobs being created in service, sales and supplier positions once full production begins. The company reports an enthusiastic reaction from fans of the car, with almost 50,000 people to date putting down their deposits for a place in line to purchase the car.

Following in Elio’s footsteps, XTI Aircraft, another firm with an innovative new approach to transportation, will begin raising funds on the StartEngine platform in the next few weeks. XTI is developing a vertical takeoff and landing aircraft for civilian use that has attracted substantial interest from aviation enthusiasts since it was first unveiled to the public.

Tags: , , , , , , ,

nov2017-fintech confernce-dc

HEADLINE NEWS

Former Blink 182 Guitarist Crowdfunding SpaceshipThe Onion (satire)UFO enthusiast and Blink 182 co-founder Tom DeLonge is crowdfunding a “public benefit corporation” whose first project is a proposed intergalactic spaceship. What do you think? “I've thrown away money on worse mus [...]

Real Estate Crowdfunding Firm Targets Institutional InvestorsInstitutional InvestorFirst RealFund has begun offering real estate deals to institutional investors on a crowdfunding platform. The New York-based firm will provide short-term real-estate investments in high-growth neighbor [...]

AOLThis 94-year-old WWII veteran is crowdfunding a tour of refugee camps across the worldAOLBut there's still a challenge Smith wants to complete: traveling to refugee camps across the world. For this reason he's launched a crowdfunding campaign on GoFundMe to help him fund [...]

This Farming Robot is Looking for Crowdfunding to Plant its SeedsInverseThe Salk Institute may have cured polio in its heyday, but these days it needs help funding its research endeavors. The San Diego-based nonprofit science hub is seeking $313,840 through crowdfunding efforts in ord [...]

Crain's Detroit BusinessSouth Oakland Shelter acquires HandUp crowdfunding platformCrain's Detroit BusinessIn what's being called a bold move, South Oakland Shelter, a Lathrup Village nonprofit that provides services to the homeless, has acquired San Francisco-based Han [...]

AdweekThe Brewers Association Is Launching a Crowdfunding Campaign to ...AdweekThe Brewers Association has released a tongue-in-cheek video to promote its crowdfunding efforts. YouTube: Take Craft Back. Share. By Erik Oster. |. 23 hours ...and more » [...]

ForbesThe Recipes For Crowdfunding Success On Kickstarter -- And What To AvoidForbesToo little is known about the recipes for a successful crowdfunding drive for a new product. And there is even less known about online drives, despite its meteoric success over the past decade. A 2013 [...]

LeaflyCrowdfunding Site Cancels Aid to California Wildfire Victims - LeaflyLeaflyWith the most devastating wildfire in California history laying waste to its members' homes and livelihoods, the California Growers Association responded in the ...and more » [...]

The SunMum slammed for setting up crowdfunding page asking people to ...The SunA MUM has come under fire for setting up a crowdfunding page requesting cash instead of presents for her son's birthday. Paramita Sarkar says nine-year-old ...Mum starts crowdfunding page so her son ca [...]

Tom DeLonge's new UFO academy is crowdfunding a spaceshipConsequence of Sound (blog)Now, DeLonge's first major initiative with the group is a crowdfunding campaign to launch a spaceship. A message on DeLonge's Facebook account announces the project: “Hello, my name is T [...]

CFB Finance

Syml
Lst Val
+/- Val
+/- %

Marketwired

  • Crowdfunding
  • Crowdfund
  • Peer to Peer Lending
  • FinTech
  • Reg A+
  • Reg CF
  • Crowdfunding USA

Press Release

CrowdFund Beat Media

lnkd.in/gXvUdRw On November 6th & 7th 2017, global thought leaders will convene at the 2020 #Fintech at Nati…lnkd.in/gQ62iJ5

Live Crowdfunding .tv

What's Next Step in Regulation A+ JOBS ACTS Title IIII :L Interview : Steve Cinelli with Brian Korn Securities and Crowdfunding/Peer-to-Peer Lending Lawyer, Watch more video library | Conference | Interview | Campaign Showcase | Research | Education |