We had the chance to speak with James Fahn, Co-Founder & COO of Fellow Robots, on how they were able to leverage crowdfunding for their fundraise to ultimately raise $225,000 from a total of 3 investors. Here’s what James had to say about his experience using Crowdfunder.
What problem are you solving at Fellow Robots?
Fellow Robots is reimagining retail to create a smarter shopping environment using autonomous robots. OSHbot can speak to shoppers in their native languages, and provide recommendations for the products they are looking for. Once OSHbot identifies what shoppers want, it autonomously guides them through the store to the product location, providing an easy and pleasant shopping experience.
How much did you end up raising through Crowdfunder?
We ended up raising $225,000 from 3 investors.
Why did you decide to leverage crowdfunding for your fundraise?
We have a strong relationship with the Singularity University who works really closely with Crowdfunder. They recommended Crowdfunder as a scalable solution to fundraising and that Crowdfunder helped other Singularity University companies in the past raise money. So we decided to try out crowdfunding and particularly Crowdfunder to help close out our round.
How has the emergence of crowdfunding platforms like Crowdfunder helped the traditionally difficult fundraising process?
We loved the Crowdfunder platform as it was very easy to use and we were able to close investors quickly to top off our fundraising round.
What would you tell entrepreneurs looking to fundraise on Crowdfunder?
Crowdfunder allowed us to effectively market our deal to their network of accredited investors and ultimately raised $225,000 in a quick scalable manner. All entrepreneurs should be leveraging crowdfunding in their fundraising efforts.