Perrone Robotics

Launched

founder @ Perrone Robotics

Published on Dec 17, 2020

Well, this is exciting. And new. New for us and a growing movement in the high-tech space to raise capital from a larger group of individuals. This being "crowdfunding". Participating individuals become investors in high-tech emerging market and startup companies. Something that has been historically limited to the venture capital community, is now accessible to everyone. 

We're grateful and proud of our relationship with Intel Capital who led our Series A round of venture capital investment with a $29 million+ post money valuation in 2016. We've made tremendous progress since then developing our software to operate in automotive manufacturer, tier 1 automotive supplier, and industrial vehicle supplier vehicles. With 5 key patents, finding product-market fit with our software and retrofit autonomy kit for fixed zone applications, three current gold standard customers using this kit, and a team of first class engineers, we've made extraordinary progress since 2016. 

And we've also made positive inroads pursuing a Series B venture round as well. Yet this "investment from the crowd" approach has become increasingly appealing. During a Regulation CF round, as we've launched here, we can raise up to $1.07M. And during a subsequent Regulation A round, as we're considering, we can raise up to $50M. What's more, recent legislation is raising these maximum limits to $5M and $75M respectively. This changes the game for crowdfunding. More like a "mini-IPO", it seems like there's significant and growing momentum behind this path for raising capital. Having been early to participate in the autonomous vehicle space, we feel a similar energy in the air.

So here we are and happy to launch on this fantastic platform provided by Wefunder. I want to convey many thanks to our board member, a mentor, and the lead investor in this campaign, Nolan Bushnell. Nolan is the quintessential hi-tech industry icon. Many of you know his name as the founder of Atari, but he also was a pioneer in the personal robotics space as well as in GPS-based navigation. He's also been involved in an extraordinary number of ventures since. He's a tireless pioneer, entrepreneur, chock full of wisdom, and hugely inspirational.

I also want to thank you too for visiting our investment campaign page and for considering an investment in our Company. I'll be keeping you posted here on updates to our Company, our Series B capital fund-raising efforts, and the start of any Regulation A follow on round. So, please stay tuned and much appreciation in advance for making others aware of this campaign!

Good wishes and ventures,

Paul