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Security Type
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Preferred Stock
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Categories
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Other
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Min Investment
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$1,000
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Offering Date
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January 21, 2019
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Expected Close Date
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April 21, 2019
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Target Raise
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$300.00K-$2.40M
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Deal Notes
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Share Price: $0.4723
Option Pool: 7.6%
Liquidation Preference: 1.0x
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Valuation
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$7,000,000
Company Description
On-demand work space. Anytime. Anyplace.The NeedThe Workspace-as-a-Service sector is estimated to reach $12.8B in 2022. Our research has established a clear need for on-demand, quiet meeting/work spaces for business people in office spaces, events/conventions, and public spaces. These people seek a conveniently located, comfortable workspace that reduces noise and offers the functional amenities of an enclosed space (privacy, solid Internet access, etc.). In turn, this creates an opportunity for Event Managers, Public Space Operators, and Office Facilities Managers to fill.The SolutionTo address this need, ZenSpace has developed the ZenPod™. ZenPods combine a noise reducing, comfortable meeting/work space, a technology platform, a mobile/web app (currently in Beta), and a “SmartBox” control system to create a highly flexible, on-demand system, an IoT-enabled space for conducting business and/or private meetings. Our vision for the ZenPods is to allow people to search, select, and schedule time in a ZenPod as easily as ordering a ride share.Our ProgressSince our launch in 2017, we have piloted programs with marquee customers and are in conversations with more, including:Events - Event managers at Microsoft, ICSC, and Realcomm, as well as the leading exhibition industry associations IMEX and IAEE.Public Spaces - We are in conversations with Bespoke at Westfield Mall/San Francisco.Office Solutions - Our target customers are Pinterest, Twillio, and ThermoFisher.In addition, we are now an official vendor of Microsoft.With an experienced team covering major areas of execution and market experience, we are poised for growth with multiple verticals in which to expand our business.
Perks
$1,000: Invest before January 21st, 2019 and receive a $100 ZenSpace gift voucher to be used across ZenSpace deployments in public and event spaces.
$5,000: Receive a $250 voucher to use across any ZenPods deployed across public and event spaces. Early Investor Reward: Receive a 20% flat discount voucher to use across ZenSpace products & services (valid for 6 months from the issue date) when you invest before January 21st, 2019.
$10,000: Receive a $1,000 ZenSpace gift voucher for use across any ZenPods deployed in public and event spaces. Early Investor Reward: Receive a 20% flat discount voucher to use across ZenSpace products & services (valid for 6 months from the issue date) when you invest before January 21st, 2019.
$25,000: Receive a 20% discount voucher on all of our products & services (valid for 1 year). Plus an invitation to participate in a strategy workshop, including dinner and cocktails (does not include travel or accommodation). Early Investor Reward: Receive a personalized 1-seater ZenPod engraved with your name and delivered to you within 60 days of the close of the fundraising round when you invest before January 21st, 2019.
$50,000: Receive a 25% discount voucher on all of our products & services (valid for 1 year). Plus an invitation to participate in a strategy workshop, including dinner and cocktails (does not include travel or accommodation). Early Investor Reward: Receive a personalized 2-seater ZenPod engraved with your name and delivered to you within 60 days of the close of the fundraising round when you invest before January 21st, 2019.
$100,000: Receive a 30% discount voucher on all of our products & services (valid for 1 year). Plus an invitation to participate in a strategy workshop, including dinner and cocktails (does not include travel or accommodation). Early Investor Reward: Receive a personalized 4-seater ZenPod engraved with your name and delivered to you within 60 days of the close of the fundraising round when you invest before January 21st, 2019.
Key Deal Facts
ZenSpace ZenPods featured at Microsoft Ignite event (over 25,000 attendees), IMEX America (a top exhibition industry event with over12,000 attendees), and IAEE Expo! Expo.
The first pod prototype was displayed at CES in Jan 2018; Featured by Entrepreneur, as part of their CES coverage.
Approved to be an official vendor of Microsoft.
Provisional Patent filed by the founder for the ZenSpace SmartBox.
The global workspace as a service (WaaS) market was valued at $6.12 billion in 2016 and is expected to reach a value of $12.9 billion by 2022.
Use of Proceeds
General Admin: 5%
Sales: 25% - 20%
Marketing: 15% - 20%
Inventory: 10%
Software R&D: 30% - 25%
Hardware R&D: 0% - 10%
Operations: 15% - 10%
Management Team / Advisory Board Bios
Mayank Agrawal - CEO
The Founder and CEO of ZenSpace, Mayank Agrawal has proven expertise in the fields of Engineering, Technology Sales, Product Development. A strong leader with experience in high-growth multinational organizations. MBA, Bachelor Degrees in Engineering, Electronics and Communications
Deal Notes
Share Price: $0.4723
Option Pool: 7.6%
Liquidation Preference: 1.0x