Caleb Naysmith
·2 min read
Boxabl, an innovative housing construction enterprise, is seemingly gearing up for another equity crowdfunding raise. Boxabl was founded with the goal of transforming the housing sector by providing affordable, high-quality housing to a broad audience. Thus far, Boxabl has accumulated more than $168 million from over 40,000 investors and constructed in excess of 300 homes, employing its distinctive building system that is compatible with automotive-style factory mass production. Boxabl launched a test-the-waters campaign today to gauge interest and build their waitlist for a potential upcoming raise.
In Boxabl's prior fundraising round, which concluded in August 2022, the company raised a remarkable $24.8 million on StartEngine alone. An additional $50 million was garnered through a white label on their own website. Following this, they initiated a regulation crowdfunding raise on StartEngine, which rapidly reached the $5 million cap. Their proprietary building technology, secured by exclusive rights to 63 patent filings and counting, has already showcased its capabilities in Factory-1 and Factory-2, from which more than 300 houses have been shipped to contented customers.
Having successfully delivered houses under two significant contracts, Boxabl now aspires to elevate its groundbreaking method by raising funds to construct the "Boxzilla Factory." The Boxzilla factory is supposed to be the largest and most technologically advanced housing factory in the world. Boxabl has long touted a factory able to produce “a house every minute,” and the Boxzilla is meant to be the culmination of that dream. Drawing inspiration from the efficiency and speed demonstrated in automotive factories, Boxabl is confident that its technology can render high-end housing both affordable and widely accessible.
To achieve this ambitious objective, Boxabl is seeking to raise an astounding $1 billion for the construction and operation of the Boxzilla Factory. If they succeed, their inventive approach to housing construction could profoundly transform the industry, providing a practical solution to the worldwide housing crisis and establishing sustainable, affordable, and attractive housing for millions globally.
See more on startup investing from Benzinga.
Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.
This article Boxabl Gears Up For Another Raise After Raising A Record $80 Million Through Equity Crowdfunding In 2022 originally appeared on Benzinga.com
.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
