Elihuu disclosed increasing the size of its convertible promissory note placement by 150% to $750,000. An additional $80,000 worth of securities was placed by the company with two investors since the company last released data last October. This brings to $220,000 the amount raised from the six backers who subscribed to the offering. Based on the offering’s structure the subscription is scheduled to close in six months at the latest. The company is an alumnus of the Boulder Techstars accelerator program. Techstars is a multi-location incubator and seed investor which also provides white label incubation programs for corporations.
The company developed and markets a platform for designers to find the right local manufacturer who can best work with the materials, processes and specifications needed for the project. Once the connection is made, the platform offers workflow tools to streamline communication and the exchange of files, quotes, images and legal documents.
Dorian Ferlauto (President & CEO) leads the Denver CO based company which was registered in 2013. Elihuu kept its revenues undisclosed. The management team includes Alex Henry (Chief Design Officer) and John Ipson (CTO).
Status: Intermediary close
Amount offered: $750,000
Amount placed: $220,000
Change: offered +150% / raised +59% / placed 29%