Regular Techzim readers probably remember the article on Pasi William Sachiti, a Zimbabwean entrepreneur based in the UK who, less than a month ago, launched a crowdfunding campaign for his self-driving car startup.
Sachiti and team have achieved the amazing feat of not only raising the target £300,000 they were looking for, but they are also now able to raise more than they set out to, called ‘overfunding’ on CrowdCube.
As of the writing of this article, Kar-Go has raised £302,830 so far. This is equivalent to about US $390,000. The startup still has 15 days of fundraising to go, and considering they are still getting takers, the total investment figure when they eventually close the campaign is likely to be much higher.
Kar-Go announced on the achievement on their CrowdCube page yesterday:
Today, we’re very excited to announce that our campaign has just passed the 100% mark!
Huge thank you to the 200+ investors and an anchor investor who have collectively backed us to the tune of £300,000.
As we reached our target, we will be closing off our campaign in the next couple of days! If you or any of your colleagues are still speaking with us regarding investment, please get in touch so that we can wrap things include you in the round before it closes!
The successful crowdfunding campaign not only endorses Kar-Go’s autonomous delivery vehicle innovation, but is strong signal that the startup is onto a significantly sized opportunity. The startup has promised to “remove up to 90% of the cost associated with the last mile of delivery” through the use of robotics and driverless vehicle technology.
This also helps show the naysayers (and we had a lot in the comments of the last article) the real potential Kar-Go’s innovation has.
Here’s a video of Kar-Go’s launch event of the funding round: