Cityzenith’s Raise on Republic Hits $1,070,000 Limit, Company Announces New Reg 506(c) Capital Raise on Infrashares Platform
CHICAGO, October 16, 2019 /PRNewswire/ -- Cityzenith announced today that its Reg CF capital raise on the Republic investment platform reached is maximum funding limit of $1,070,000, two months ahead of schedule. The Reg CF round will formally close on November 1, 2019.
Following the success of its Republic campaign, the company embarked on the launch a new $3-5 million Reg 506(c) raise using a new infrastructure sector-specific investment platform called Infrashares. InfraShares is a crowdfunding platform that pools investments from individuals into large sums of development capital for critical infrastructure business and projects (roads, bridges, airports, mass transit, water systems, renewable energy and schools). InfraShares makes it possible for individuals to invest in infrastructure businesses and projects around the world that provide social, economic and environmental benefits. Investors who are interested to learn more about Cityzenith’s coming launch on Infrashares should register at InfraShares.com and stay tuned for further news!
Founder and CEO Michael Jansen shared his reaction and discussed his company’s plans for 2020. “We are pleased to have seen so much success so quickly and will use the new funds raised via Republic to expand operations rapidly in the UK/Europe, East Asia, India, and the Middle East, as well as scale our engineering and delivery capabilities to support our growing global project base. We have learned the value of crowdfunding as a significant financing strategy, and are excited to take the next step with Infrashares. The Board of Directors also recently approved a proposal to launch a larger growth financing round in early 2020.”
2019 has been an important foundational year for Cityzenith. Mr. Jansen continues, “We successfully landed and completed several major Digital Twin projects in countries around the world this year, many of which were published and celebrated in the international media. We landed, and we are expanding. Smart World Pro, our core platform, evolved to emerge as a comprehensive Digital Twin Operating System unlike anything in the market, and today we are stealthily building SWP V 2.0 due for release in mid 2020. SWP V 2.0 will be our most advanced release yet, the one where we get to take all the experience of the last many Digital Twin projects and manifest our immense, unique knowledge in a massively flexible, highly-disruptive suite of products.
Throughout 2019, we also received multiple expressions of investment interest from venture capital firms, private equity players, and strategic partners, all keen to participate in our future. In response, the Board elected to launch a formal growth capital raise soon that will help us determine who the best partners for us will be going forward in 2020 and beyond. I can’t wait: this is indeed an exciting time for me and the company. Sequoia Capital invested in my last company… this time I intend to create a consortium of like-minded, strategic investors all unified in their passion, determination, and drive necessary to build a global business over the next few years.”
Brad Burgess, Senior Manager-Business Development, recently joined the company to spearhead enterprise sales and partner development, commented: “Since joining the company, it’s been especially rewarding to witness the interest among the top architectural/engineering firms, who look at Digital Twins as a way to not only better manage their own projects/property portfolios, but as a (new) business opportunity to extend their service offerings. This includes managing properties after handover on behalf of their clients. It’s a tremendous opportunity for everyone in the ecosystem to benefit!”
Cityzenith is based in Chicago, London, and New Delhi. The company's Smart World Pro™ Digital Twin platform was created for people designing, constructing, and managing complex, large-scale building projects, properties, and real estate portfolios.