Republic, a mission-driven investment crowdfunding and tokenization platform, is out with a note that five startups have hit $1 million in funding since the launch of their Note token program.
“This is an important milestone in Republic’s history,” commented Shrina Kurani, Vice President of Business and Head of Tokenization at Republic. “It marks the first time that a company, outside of those involved in crypto/blockchain technology, has raised a million dollars on our platform and it’s not even one company – it’s five, all within a few months of our digital token Note launch. This reinforces that startups can successfully raise money from the crowd, and we’re pleased to roll out even more rewards as part of our program to encourage more investors and partners to join the startup ecosystem.”
Republic typically uses the Reg CF (Regulation Crowdfunding) exemption which currently has a funding cap of $1.07 million.
Launched in April of 2019, the Note rewards Republic users for supporting the global startup ecosystem. Note provides additional benefits to Republic investors and, since launch, more than 300,000 users have participated in the program. Republic users can earn credits toward startup investments, invite-only events, and perhaps a seat at the Republic Advisory Board. Republic is also offering “Note Bounties,” which help users earn more Notes.
The five startups topping $1 million are as follows:
- CHRGR – advertising that powers your brand (New York)
- InnaMed – using smart, at-home blood testing tech to enable personalized medicine (Philadelphia)
- Mealthy – home cooking made easy (Austin)
- Sapient – using machine learning to eliminate energy waste (Philadelphia)
- SimpleShowing – the new way to tour and buy a home (Atlanta)
- Accessible even to those without a digital wallet, the Republic Note rewards users, investors, and partners for activities taken on Republic.
Republic hopes to eventually allow Noteholders to benefit from Republic’s upside potential by investing in the crowdfunded securities. If the Securities and Exchange Commission (SEC) qualifies the Reg A+ filing, Note holders may get a cut of the investment returns.