Damon Raises $30M to Advance AI-Enabled Connected Vehicle Strategy

ByRicardo
™

Details of the providing might be discovered right here Reg A+ Offering

Damon Inc. (OTCID: DMNIF) (“Damon” or the “Company”), a designer and developer of electrical bikes and different private mobility merchandise that search to empower the non-public mobility sector by innovation, as we speak introduced the launch of its $30 million Regulation A+ fairness providing. Net proceeds from the providing can be used to additional develop Damon’s private mobility merchandise, together with development of its HyperSport Race electrical bike program and AI-enabled cloud platform – Damon I/O – designed to energy the subsequent technology of private mobility services and products, together with compensation of senior secured convertible debt to the extent not transformed, and dealing capital. Damon believes this providing presents a possibility for the general public to put money into a scalable, linked car know-how suite of services and products, targeted on security, knowledge and intelligence, which Damon believes can remodel the non-public mobility trade. The Reg A+ providing is open to accredited traders and certified non-accredited traders. A hyperlink to the Offering Circular, filed with the U.S. Securities and Exchange Commission, is supplied above.

Overview of Damon’s Regulation A+ Offering Terms:

  • Unit providing: Each unit is obtainable at $0.10 per unit. Each unit consists of 1 Common Share and one Warrant to buy one Common Share at an train value of $0.12 per share that can expire in 3 years.
  • Bonus Units: Investment ranges of $2,500 or greater obtain bonus items in escalating quantities based mostly on the funding quantity.
  • Minimum funding: Minimum funding is $1,000 for 10,000 items.

While Damon has over 3,000 pre-orders for its award-winning electrical bikes, these autos function the first showcase for the facility of the Damon I/O platform. The firm’s enterprise technique is evolving past manufacturing autos to embody licensing its vertically built-in {hardware} and software program stack to different OEMs, business fleets, and know-how companions.

“Damon is greater than an electrical bike firm; we’re a know-how firm constructing a platform to redefine your entire private mobility trade,” stated Dominique Kwong, CEO and Founder of Damon. “Designing safer private mobility merchandise is the place we began, however we imagine the Damon I/O linked car platform will allow us to scale and provide options to different car makers. We are inviting traders to assist us construct a linked ecosystem that makes each car smarter and safer, whether or not it’s a Damon car or one other maker’s car.”

We imagine our Damon I/O linked car technique will enable for a number of, high-margin income alternatives past car gross sales:

  • OEM Licensing: Offering a turnkey resolution for producers to fast-track their entry into the linked car market with superior security and telematics.
  • Commercial Fleet Solutions: Providing knowledge, predictive upkeep, distant diagnostics, and danger modeling for logistics and last-mile supply providers.
  • Consumer Subscriptions: Powering options like navigation, trip analytics, and the patented CoPilot™ 360° collision warning system.
  • AI-Powered Data Services: Creating new alternatives for mobility planning, insurance coverage companions, and emergency responders.

This B2B and B2C technique positions Damon on the intersection of two key industries: Consumer EV Personal Mobility and Connected Vehicle Technology. The Damon I/O platform is designed to develop smarter as extra Damon I/O powered autos hit the street, creating a robust community impact that constantly expands its worth and aggressive benefit.

“No one else within the class is combining built-in security, efficiency, and linked intelligence the way in which Damon is,” continued Mr. Kwong. “Traditional OEMs are structured to construct mechanical machines and wrestle with deep software program integration. We imagine Damon I/O is the answer. It is a modular and extensible platform designed for companions in search of to modernize their fleets and provide the safer, smarter experiences that as we speak’s prospects demand.”

For extra details about Damon’s imaginative and prescient for a linked mobility future and to study concerning the funding alternative, please go to Invest.Damon.com

The put up Damon Raises $30M to Advance AI-Enabled Connected Vehicle Strategy first appeared on AI-Tech Park.

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