Israeli equity crowdfunding platform OurCrowd has closed Australia’s single largest equity crowdfunding round – $1.5 million for private Australian mobile health technology company Global Kinetics Corporation.
The money is for GKC to commercialise the Parkinson’s KinetiGraph, used by doctors to assess and manage the symptoms of Parkinson’s disease. The funding will help the company’s US expansion, following recent FDA clearance.
“This important funding round demonstrates that equity crowdfunding is a viable platform for Australian startups and early stage companies to access critical investment capital,” GKC’s managing director Andrew Maxwell said.
Earlier in the month, the international arm of the crowdfunding platform invested in another Parkinson’s technology called ElMindA.
The helmet is the world’s first FDA-approved neural functional assessment tool to visualize serious brain trauma and illnesses. Read more about that here.
Parkinson’s is a progressive neurological condition that affects approximately 80,000 Australians.
OurCrowd Australia launched in February 2014 and has since raised more than $25 million for local and global deals.
It matches pre-vetted startups and wholesale investors, also known as “sophisticated investors”, whereby investors must invest a minimum of $10,000 per deal of their choice.
Globally, OurCrowd has raised over $150 million in equity crowdfunding for 68 companies spanning across the Internet of Things, fintech, cybersecurity, medical technology, agricultural technology, big data and robotics.
Read more about the platform here.