Mindflood, creator of the the Patchblocks programmable music system, recently announced an equity investment crowdfunding opportunity via the Crowdcube platform.
In essence, Crowdcube is a site designed to open up investing in UK startups to anyone. Companies create online pitches and anyone can invest, with investments starting at £10.
Development of Patchblocks was crowdfunded, also, via a Kickstarter project. Backers of the Kickstarter project were able to get the programmable music blocks before the general public and at a discount.
With the new fundraising project, Mindflood is not crowdfunding the development of a specific project; they are crowdfunding the development of the company itself. This is the first electronic music technology company that we’re aware of using crowdfunding in this way.
Mindflood had a goal of raising £100,000 for about 13% equity in the company. They met that target in less than a week. The Mindflood pitch is open for another 56 days on Crowdcube.
Note: You have to create a Crowdcube account to see full details of the pitch. In addition, be aware that Crowdcube is an investment site and investments of this nature carry risks – as in, by participating, you could lose your money. See the site for details.
What do you think of the idea of ‘crowdsourced’ investment in the companies that make your electronic music gear? Are you interested in owning a little piece of the companies that make your gear? Leave a comment and share your thoughts!