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No end in sight for investor appetite for modular manufacturer Boxabal.
US-based modular manufacturer Boxabl, with their unique patented fold-out home, have established themselves as a darling of the investor start-up community.
And, with a reported order book in excess of 100,000 units, including a contract with the US government, Boxabl is said to be shipping units every day. Another factory is also in the works.
According to a listing on StartEngine last week, Boxabl’s Reg A+ securities offering (an Act established in 2012 by Barak Obama that allows everyday investors to purchase shares in startups), closed its securities offering on August 26. The offering was simultaneously listed on Republic, a similar crowdfunding site to StartEngine.
According to the Reg CF (regular crowdfunding that allows a company to raise a maximum of US$5 million over a 12 month period) offering page, Boxabl (modular manufacturer) closed at over US$24 million on StartEngine – along with an additional US$1.167 million on Republic.
The company quickly pivoted to a Reg CF securities (which allowed Boxable to sell securities through crowdfunding) offering which raised a further US$3 million within hours of launch and soon after hit its US$3.6 funding cap.
Boxabl is now taking names for a waiting list if an opportunity opens up for investors.
Watch their investor pitch:
The valuation of Boxabl is nothing short of eye-watering.
The Reg CF listing was offered at a pre-money valuation of US$3.36 billion. The Reg A+ offering was pitched at a valuation of US$3 billion – but apparently, there are a lot of moving parts to this funding round as Boxable was seeking over US$1 billion in total funding, which includes US$500 million in debt.
According to Boxabl they’ve raised US$168 million to date, including US$34 million from 14.9K+ StartEngine investors.
