Wefunder supports three different federal laws that allow startups to raise money legally. To comply with the law, Wefunder Advisors LLC and Wefunder Portal LLC (both owned by Wefunder Inc) also list startups depending on the regulation used.
Legal May 16th 2016
Regulation Crowdfunding
Wefunder Portal LLC
$152,260,351
for 459 startups
Legal Now
Regulation D
Wefunder Advisors LLC
$45,014,283
for 126 startups
Rare
Regulation A+
Wefunder Inc
$9,738,984
for 3 startups
Curious how well the companies have done? Or how many raised follow-on financing?
Some fine print: 1) These numbers include startups currently live on Wefunder if they pass their minimum target. 2) Some startups use two different laws at the same time (i.e., Regulation D and Regulation Crowdfunding).
Great news about the closing! I have a question about FDA approval. Last week, they approved the first at home Covid test but that one takes 30 min. Are you expecting similar approval from FDA? https://www.fda.gov/news-event...
Hi Georgia and thank you for your question. The at-home test kit approved by the FDA referenced in the article still requires a prescription by a healthcare provider. Therefore, our EUA request will differ somewhat in that we are seeking the first FULLY at-home test kit with NO prescription needed. Our test uses slightly different technology as well (ours is a simple lateral flow test stick and the other test requires batteries to utilize a light-up display for results). As you mentioned, the Lucira test takes 30 minutes for results and our test only takes 9 minutes. The Lucira test was also approved for use in doctor's offices/hospitals, etc. but has to be administered by a health care professional in that setting. We still believe that QXD is on the right track and that the approval of this test is a positive sign for us.
Great news about the closing soon. Thank you for the update and invitation to your Facebook Live Q & A meeting. Continued good luck.
Thanks so much and thanks so much for being an investor. We appreciate your support of QXD!
Yay!! So exciting!
Yvonne, thanks for being a lead investor and believing in the mission like you do!