Loft Orbital Solutions Inc. announced that it has received $3.202773 million in funding from Uncork Capital, MDI Ventures, V1.VC, Mercuria Investment Co., Ltd., Remote Sensing Technology Center Of Japan, Shobunsha Holdings, Inc.
November 13, 2017
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On November 13, 2017, Loft Orbital Solutions Inc. closed the transaction. The company has amended the terms of the transaction. The company issued 2,657,989 series seed preferred shares at a price of $1.148528, 56,681 series SAFE-1 preferred shares at a price of $0.882118 per share, and 94,469 series SAFE-2 preferred shares at a price of $1.058542 per share, for aggregate gross proceeds of $3,202,773 in a round of funding led by new investor SoftTech VC V, L.P., a fund managed by SoftTech VC. The transaction included participation from new investors MDI Ventures, V1.VC, Mercuria Investment Co., Ltd., Remote Sensing Technology Center Of Japan and Shobunsha Publications, Inc. The company raised $1,587,777 in its second tranche closing. The shares are convertible into common shares of the company at a fixed conversion price of $1.148528, $0.882118, and $1.058542 respectively. The shares carry participating and non-cumulative dividend rate of 8% per annum. The shares are non-redeemable. The transaction has been raised at a post-money valuation of $4,773,113.
Shobunsha Holdings Inc is a Japan-based company engaged in the provision of maps and travel information. The Company mainly operates through Maps & Travel Information Provision segment. The Company is engaged in the planning, production, publishing and sale of maps, magazines and guidebooks, through the map data and guide data the Company developed. The Company is engaged in the planning, development, sales of application software and Website advertising business. The Company is also involved in the provision of travel-related platform, the management of resort facility, as well as the call center business, local tour arrival and departure tour reservation business and activities business. The Company's publications include maps, magazines, guidebooks, and practical books.
Loft Orbital Solutions Inc. announced that it has received $3.202773 million in funding from Uncork Capital, MDI Ventures, V1.VC, Mercuria Investment Co., Ltd., Remote Sensing Technology Center Of Japan, Shobunsha Holdings, Inc.