RHL Vision Runs A Successful Crowd Funding Campaign.
RHL Vision, a two-year old startup company, has recently manage to raise an amount of $1,24,000 million, in just about 43 days, through crowdfunding from various individuals from across the globe.
“This is for the first time the crowd funding platform is being used in the state by a company to raise funds. When we started the initiative on January 8, our objective was to raise $100000 for our expansion. But the response was overwhelming and we could achieve our target before the deadline of February 22,” said Rohildev, founder and chief executive officer, RHL Vision.
The sourced used to help fund RHL Vision was the online Indiegogo site, much like Kickstarter but its own sets of rules. Many companies in India have used various crowd funding platforms in raising money for their launching of businesses, some example would include Grecko, Bangalore, and Smarty Rings. The funds earned by the crowd funding will be used to produced about 1,500 units of Fin, Bluetooth ring. Fin was created by RHL Visions to convert users fingers into a dialing pad for either smart phone devices or even a remote control for your television. All three of these mentioned devices can be controlled with a single Fin.
“As of now 1,055 people from across the globe have contributed to the corpus. We have got the most fund from the US, Europe and the West Asia. The production cost of Fin is $30 to $40, we are hopeful of making 1500 Fin with the fund,” Rohildev said.
Aside from receiving the funds, RHL Vision have also been suggested various ways to use their creations and plenty of manufacturing contacts from the crowdfunding.