Cloud based loss prevention device reached its $180,000 fundraising target


Based on information filed with the SEC, Linquet Technologies reported the successful subscription and close of its non-brokered equity financing. One financial backer invested $180,000 on February 11th. No securities were previously sold under a registration exemption with the SEC. The company successfully completed a crowdfunding campaign in September 2013 and was a  GigaOM Mobilize Product Showcase finalist.

The company designed and markets a device to prevent the loss or theft of one’s phone and valuables while leveraging the cloud. The device once linked to a smartphone opens a world of customization options such as silencing alarms based on time or location. The device features audible alarm and flashing lights and a 100 feet range. Linquet supports both Android and iOS platforms and works with Bluetooth 4.0 enabled devices. The device which is slightly larger than a quarter, has a battery life of one year. The company adopted a Hardware-as-a-Service (HaaS) business model charging $2.99 per month for a device with a cancel anytime policy.

The company, led by Pooya Hosseini Kazerouni, is headquartered in Vancouver Canada. Linquet Technologies elected to keep its revenues undisclosed.

Offering recap
Status: Completed
Company: Linquet Technologies
Industry: Other Technology
Amount offered: $180,000
Amount placed: $180,000
First sale: 02-11-2014


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