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

LeaflyCrowdfunding Site Cancels Aid to California Wildfire Victims—Because CannabisLeaflyWithin days, Hezekiah Allen, CGA's founder and executive director, had set up a campaign on the San Francisco-based crowdfunding website YouCaring to collect donations to help the farmers rec [...]

Food & Wine (blog)Crowdfunding Campaign Seeks $213 Billion to Buy Anheuser-Busch InBevFood & Wine (blog)With a goal that is impossible to reach, "Take Back Craft" (as the crowdfunding campaign is called) is admittedly a marketing campaign first. Jokingly, this " [...]

RecodeCrowdfunding site Indiegogo will now let you sell products as it shifts ...RecodeIn the past, entrepreneurs on the crowdfunding site Indiegogo could offer contributors a gift in exchange for cash. Then a year ago, they could begin offering ...and more » [...]

EW.comAdam Goldberg launches crowdfunding effort for Hebrew Hammer sequelEW.comFourteen years after Adam Goldberg first donned the Jewish crimefighter's overcoat and yarmulke, the actor is ready for another round. Goldberg, director Jonathan Kesselman, and producer Harrison Huffm [...]

Phoenix Business JournalCrowdfunding comes to Arizona real estatePhoenix Business Journal“The new crowdfunding legislation has empowered all Arizonans with the opportunity to invest locally in business startups, which had been for decades, reserved for only qualified investors. Neighb [...]

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 [...]

YOU CAN HELP: Friends launch crowdfunding campaign for Admiral attack victim and familyWest Seattle Blog (blog)After an Admiral woman was stabbed last week while walking with her baby on 41st SW, many people asked how the community could help with her recovery. Now, there's a way [...]

Hour Detroit MagazineHow Crowdfunding is Helping Detroit Families Stay in Their HomesHour Detroit MagazineThe Tricycle Collective has a unique approach to helping Detroiters fight tax foreclosure.and more » [...]

KTUU.comWasilla police meets crowdfunding goal for new K9 OfficerKTUU.comWASILLA, Alaska (KTUU) - The Wasilla Police Department announces that enough money was raised to purchase a new police dog, following the death of K9 Marshal. The announcement comes Monday, five months after crow [...]

PR Web (press release)CCA Announces Availability Comprehensive Crowdfunding DatabasePR Web (press release)Miami, Florida (PRWEB) October 17, 2017 -- Today at a Private Capital Markets forum, Crowdfund Capital Advisors (CCA) announced immediate availability of.and more » [...]

CFB Finance

Marketwired

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

Press Release

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 |