Numerous startups looking for funding are presenting their offerings via the popular crowdfunding platform WeFunder in a quest to raise the money needed to further their operations and ideas. Out of the many campaigns on WeFunder, these four hit a major milestone last month, reaching $1 million in funding.
Solstar Space Company
Solstar is a first-of-its-kind commercial space Internet Service Provider (ISP). The firm aims to provide WiFi to astronauts using its high-speed, trustworthy and simple space communications technology, which employs the latest commercial satellite networks.
The Company: Solstar Space Company is a pioneering commercial space-based connectivity company that introduced the use of continuous communications services for low-earth orbit (LEO/NGSO) satellites.
The startup provides smallsats geared with bandwidth, payloaders with bi-directional two-way data facilities and crewed flights with orbital and suborbital communications. In addition, Solstar's high-speed, dependable and simple-to-use space communications technology also takes advantage of the most recent commercial satellite networks.
Besides, the company's routers, WiFi hotspots and satellite space communicators provide internet connectivity to any PC and come with 24/7 customer care.
Investment Highlights: Solstar Space Company aims to use most of the funds generated in the crowdfunding campaign to develop its software app, as well as miniature satellite space communicators, flight communicators and routers for space agencies, commercial space stations and spacecraft.
The startup's founders have more than 30 years of experience in the commercial space and satellite industries, including six years of work for the National Aeronautics and Space Administration (NASA). In addition, Solstar Space Company has its own space communications technology and was awarded a contract by the Air Force in April 2021.
The startup was the first firm to successfully demonstrate a WiFi hotspot inside a spaceship, which it did twice aboard Blue Origin's New Shepard crew capsule. Furthermore, three successful spaceflights have verified Solstar Space Company's technology.
To date, Solstar Space Company has raised over $1.4 million from more than 1,200 investors on Wefunder.
Cityzenith
Cityzenith's purpose is to be the first to develop building management software that reduces CO2 emissions and saves billions of dollars.
The Company: Cityzenith's innovative concept, SmartWorldOS, is a ground-breaking Digital Twin software platform meant to propel cities into the future. The service aims to save building owners, infrastructure planners and architects billions of dollars while lowering carbon emissions by 50% to 100% per building.
Urban Digital Twins are digital twins of the physical built environment, including transportation networks, buildings and infrastructure linked to data in and around them. This category portrays the past and present using real-time and historical data, simulating expected futures in the built environment. In this field, SmartWorldOS is a superior software platform.
Investment Highlights: SmartWorldOS delivers real-time visibility throughout a property's lifecycle. It optimizes website selection, design, construction, operations, maintenance, sales, P&L and carbon emissions tracking and control, all in one fully integrated platform.
Furthermore, SmartWorldOS continuously monitors and analyzes building data after it is completed to detect inefficiencies and possible savings. This information is also used to recommend long-term energy, time and cost reductions.
SmartWorldOS aims to be a leading all-in-one platform for building asset owners, green retrofitting, development and planning for existing buildings. The Digital Twin technology sector is predicted to grow over 15 times from $3.1 billion in 2020 to $48.2 billion per year by 2026.
So far, Cityzenith has raised over $11 million from more than 5,000 investors and $1.1 million from its current offering on WeFunder.
ThisWay Global
ThisWay Global is a Google Accelerated Startup that aims to be a leading diversity sourcing and matching platform in the job market.
The Company: ThisWay Global intends to be a leading platform in the job market by removing 500 biases from the candidate matching process to assist recruiters in finding skilled, diverse candidates.
The startup's completely integrated platform matches all candidates to all positions in seconds and ranks applicants based on their best fit. ThisWay Global's platform is already in use, with customers reports saying that up to 38% of prospects they matched with were eliminated mistakenly by other platforms available on the market.
ThisWay Global solved this industry challenge by building a matching engine that allows businesses to find competent people faster and benefit from a varied workforce. This innovative technology also aims to assist people in succeeding and performing their tasks more effectively and efficiently.
Investment Highlights: Regardless of the source, job type or applicant volume, ThisWay Global's matching engine assimilates any position via API integration or manual upload and evaluates all candidate resumes. The development team has also written code for over 400 APIs so the platform can connect with customers quickly.
Furthermore, the service's natural language processor (NLP) removes any minor prejudice in job descriptions, attracting a significantly more comprehensive range of qualified candidates. ThisWay’s service also automatically removes data like name, gender, education level and other demographic-related information that would otherwise contribute to unconscious bias. The most competent candidates are identified by analyzing their full job history, abilities and qualifications.
So far, the startup was able to swiftly establish market awareness after winning the coveted Innovation of the Year Award at the HR Tech Conference in Las Vegas, adding to a sales funnel of over $29 million.
To date, ThisWay Global has raised over $1.14 million from more than 990 investors for its offering on Wefunder.
Earth Rides
Earth Rides aims to make clean technology available to people in all major cities across the United States and Latin America by creating electric car ownership means for people from all socioeconomic levels.
The Company: Earth Rides is a female-owned company that caters to and animates its customers' transportation needs. The firm is also uniquely positioned to offer its carbon offsets on the open market because of its ability to track each mile logged versus the amount of carbon a gas ride would have caused.
The company seeks to give long-term openness, safety and empowerment to its customers. Earth Rides debuted in Austin, Texas, in 2021 and from January to July, it had 18,000 new users and 47,000 passengers from 50 partners. From July to December 2021, the company added 25,100 new users and 65,000 new riders from 75 new partners.
Investment Highlights: Earth Rides is working with automakers and dealers to not just increase its fleet but also to supply drivers with affordable electric vehicle rentals, accelerating the adoption of electric vehicles.
In addition, Earth Rides has partnered with Patagonia Nashville to enable on-demand delivery of its merchandise, allowing the collaborator to deliver within an hour and without using any packaging, reducing its carbon footprint.
The startup expanded into meal delivery in November 2021 with Eat Placemat, a Nashville-based company that focuses on inspiring, nourishing and strengthening communities through feel-good culinary experiences.
Furthermore, Earth Rides' drivers have their background vetted by the FBI and have to go through a series of interviews and training. The company also provides reliable rides to the Intellectually Disabled Population (ID), and supplying subsidized rides to this community is currently a line item in the state budget.
Earth Rides' crowdfunding campaign has exceeded its goal and is oversubscribed with more than $1 million raised from over 1,000 investors.
Photo by Mika Baumeister on Unsplash
