IoT developer Changing Environments issues $675,000 worth of securities

XDATA – February 4th 2015
changing environements56% of Changing Environments‘ $1.2 million unregistered private offering was placed on January 20th. The non-brokered equity securities were subscribed by three investors. The first close garnered $675,000. $525,000 in additional funding can be raised before January 2016 based on the placement’s structure. This is the first time Changing Environments is selling securities under a registration exemption.
Changing Environments designs and markets small-scale solar solutions for smart urban furniture. The company’s first product, Soofa, is a bench that combines a charging station and sensors to inform municipalities and citizens on environmental conditions such as the air quality. The company via its charging and sensing hubs as a service enables users to monitor usage and data collected by their network.
Sandra Richter (President) leads the Cambridge MA based company which was registered in 2014. Changing Environmentselected to keep its revenues undisclosed.
The board of directors includes Jutta Friedrichs and Nan Zhao.
Offering recap
Status: First close
Company: Changing Environments
Industry: Other
Amount offered: $1.2 million
Amount placed: $675,000
SEC filing: Source
First sale: 01-20-2015
Data as of: 02-03-2015

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