BOULDER — Kindara Inc. is seeing success in its Series A equity crowdfunding campaign, with reservations from investors for $800,000 so far.
The fertility-tracking app company has a cap of $3.5 million that it can raise and expects to close in the next several months, CEO Ira Hernowitz told BizWest. The company launched its campaign in June.
Although Kindara has reservations to raise $800,000 through the U.S. Securities and Exchange Commission-approved crowdfunding platform SeedInvest, Hernowitz said the company has more funding mid-pipeline.
So far, much of the investment has been through the Kindara user community and the SeedInvest community, Hernowitz said.
“I’m really excited, but not surprised,” he said of Kindara’s customers choosing to invest in the company. “When you use a product daily, there’s a tendency to recognize the value of it. I knew the community would recognize that and make an investment, one with hopefully a positive return for them.”
In addition to raising funds, Kindara is working on several of its recently announced developments, such as its partnership with genetics company Helix to provide DNA insights to Kindara customers. That product is expected to go to market early next year. Other developments include a full update to the Kindara app.
With the advances the company is making, Hernowitz said he’s confident the company will continue to get attention from individual investors and institutions.
“It’s a public offering, and we’re excited to get people to look at our information and make a decision,” he said. “Everything we wanted to do, we’re moving forward on. I feel good about the progress we’re making.”