Sustainable business developers raise 75.000 Euro on Symbid and serve a 1.5 billion people market
Amsterdam, the Netherlands – February 2, 2012 - Off-Grid Solutions, a solar energy developer from the Netherlands, raised 75.000 Euro for their WakaWaka Solar Light using equity-based crowdfunding platform Symbid. The WakaWaka Light was able to attract 320 investors from all over the world. Off-Grid Solutions will use the 75.000 Euro to invest in solar LED-light development in developing countries. This success shows the promise of using crowdfunding as way of raising capital for small companies.
WakaWaka focuses on the 'base of the pyramid': the 1.5 billion people living without electricity. According to Off-Grid Solutions, their WakaWaka light will help people get out of poverty, breathe clean indoor air, get better school results and much more. The quality of the light is better, compared to the current kerosene-lights there are no toxic fumes, it prevents severe burn incidents, the LED light has no operating costs and climate change is suppressed. Not only is it environmental friendly, the WakaWaka solar LED-light provides 8 hours of bright light, 16 hours of reading light or 80 hours safety light and its battery is up to three years operational. It's no wonder that such a magnificent initiative has been fully funded in as little as 10 weeks.
Not only their product is well thought out, so is their crowdfunding strategy. Maurits Groen, one of the three founders, says: “After we used up most of our own savings, we needed additional funds for further development and pre financing initial order runs. We realized we could not and did not want to wait for the perfect moment to start talking to investors. I am fortunate enough to know a few media people who have given a significant boost to our campaign. But other than that it has been a lot of hard work. My fellow co-founders Camille van Gestel and Kim van der Leeuw have both put in a lot of effort making our campaign personal. Spreading the word on Facebook, Twitter and personal networks. Though the real work starts now, we made a good start through Symbid”
This crowdfunding transaction is special because all investors become actual shareholders in Off-Grid Solutions. Symbid, the platform used for this campaign, offers the first international equity based crowdfunding service in the world. Investors become actual owners of the company, and receive a return on investment in the form of dividends and have the ability to sell their shares. This way, everyone benefits.
About WakaWaka
WakaWaka is a highly efficient solar LED-light thanks to Dutch Intivation technology. Currently the WakaWaka team is working hard to service prospects from over 40 countries. Coming June the first WakaWaka’s will be received by off-grid families in Africa, India, Indonesia and elsewhere. For more information http://www.wakawakalight.com
About Symbid
Symbid is the first investment platform where investors can directly invest from as little as € 20,- in the equity of start-ups or existing businesses. Any entrepreneur is able to achieve growth or to raise capital via Symbid. Symbid recently reached the finals of the Shell Live Wire Award and is among the most innovative companies in the Netherlands. For more information http://www.symbid.com
