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Thought-Wired launch equity crowdfunding campaign

Thought-Wired launch equity crowdfunding campaign

Auckland-based social enterprise Thought-Wired Limited launched an equity crowdfunding campaign on 17 August to fund the next stage of commercialising their thought sensing software.

“We really believe that the world should be universally accessible to everyone regardless of their differences in abilities. We believe we can do that through our technology,” says Thought-Wired CEO Dmitry Selitskiy.

Started in 2011 by three university students, Thought-Wired’s product nous™ is a piece of communication software for people who cannot move or talk because of physical disabilities. They have completed five prototypes of their communication software and more than 500 tests, and are ready to commercialise their product.

“We need the funding to finish building version 1 of nous to get it out to our first customers. It’s an important next step because it allows us to validate the product in the world with paying customers and takes on board everything we’ve learnt so far,” says Selitskiy.

Thought-Wired is seeking to raise between $200,000 and $350,000 which represents up to 12.5% of the company. Shares are $1 each with a minimum investment of $500. Investors will receive non-voting shares, discounts on the software, on related products, and recognition on their website.

“The first day has been amazing. It’s encouraging to see the mix of people coming on board. It’s a combination of people from our existing crowd and people who we’ve never met before and already joining in a big way,” says Selitskiy.

“Up until this point, we’ve done everything through our circle of close supporters. It’s amazing to see new people joining in.”

PledgeMe CEO Anna Guenther is pleased that their next campaign is for a social enterprise. “We love seeing companies that are not just trying to make a financial return for their shareholders, but a social impact on New Zealand and the world. Thought-Wired holds true to its values of helping the unheard communicate.”

PledgeMe has helped other social enterprises crowdfund, including Ethique Limited which raised its $200,000 goal in two weeks for its solid hair care business. Since the campaign Ethique has been showcased in Forbes, Huffington Post and has been mentioned on social media by celebrities ranging from Britney Spears to Ashton Kutcher.

“That’s the great thing about companies that focus on social good, they are so easy to share and support because it’s about more than the money. We can’t wait to see who comes in to support the Thought-Wired crew during their campaign and afterwards when they’re commercialising their product,” says Guenther.

The Thought-Wired campaign is currently running here: pldg.me/tw

ENDS

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