-
Security Type
-
Preferred Stock
-
Categories
-
Other
-
Min Investment
-
$1,000
-
Offering Date
-
May 02, 2019
-
Expected Close Date
-
July 31, 2019
-
Target Raise
-
$350.00K-$8.07M
-
Valuation
-
$25,000,000
Company Description
Air mobility company delivering private air travel to the massesTraffic is no longer an inconvenience, but a matter of human welfare. Urban centers around the world are experiencing gridlock traffic where people, products, and emergency response are having difficulty moving around. ASX is developing an electric, vertical take-off and landing (VTOL) aircraft with the goal to move cargo and passengers above traffic, 5 times faster than driving. Working closely with our potential customer, ASX has designed a Tilt-Wing VTOL aircraft that will transport up to 5 people with 100 lbs. of luggage within and between urban centers. Thus far, we have raised and invested over $950K in our pre-seed round, and we have accomplished the following:Designed and tested five sub-scale functional aircraft prototypes.Developed high-resolution controls simulations.Designed a full-scale aircraft system architecture for Mobi-ONE using off the shelf EV Tech.MOU with VerdeGo Aero for propulsion, and identified key system suppliers.Positioned an experienced leadership team from the automotive and aerospace industry to execute.The funds raised from this round will be used to optimize our flight control system and build a full scale prototype by the fall of 2020. Upon demonstration of our full scale prototype, we expect that ASX will be able to raise the next round of capital required to lead the market with a simple, safe, and robust aircraft.Employing lean design and automotive mass production infrastructure, we believe we will overwhelm the competition and lead the market in range, speed and cost. Join us in shaping the future of mobility!
Perks
Invest $1,000 and receive an exclusive ASX Swag Bag (Branded Hat & T-Shirt)
Invest $2,500 and receive an exclusive ASX Swag Bag and join bi-annual calls with founders for inside update.
Invest $5,000 and receive an exclusive ASX Swag Bag, bi-annual calls with founders for inside update, and a limited edition Mobi-One print by our Chief Designer, Camilo Pardo.
Invest $10,000 and receive an exclusive ASX Swag Bag, a customized Mobi-One painting by our Chief Designer Camilo Pardo, invitations to flight testing events, and VIP access to public product demonstration events.
Invest $25,000 and receive an exclusive ASX Swag Bag, a limited edition Mobi-One painting by our Chief Designer Camilo Pardo, invitations to flight testing events, VIP access to public product demonstration events, and most importantly 2.5% fractional share of Certified Aircraft SN 0031. 10 positions available.
Invest $50,000 and receive an exclusive ASX Swag Bag, a customized Mobi-One painting by our Chief Designer, Camilo Pardo, invitations to flight testing events, VIP access to public product demonstration events, and most importantly 5% fractional share of Certified Aircraft SN 0021. 10 positions available.
Invest $100,000 and receive an exclusive ASX Swag Bag, a customized Mobi-One painting by our Chief Designer, Camilo Pardo, invitations to flight testing events, VIP access to public product demonstration events, and most importantly 10% fractional share of Certified Aircraft SN 0011. 10 positions available.
Invest $250,000 and receive an exclusive ASX Swag Bag, invitations to flight testing events, VIP access to public product demonstration events, and most importantly 25% fractional share of Certified Aircraft SN 0001. 10 positions are available.
Key Deal Facts
Management team holds decades of experience in aircraft manufacturing, aerospace engineering, rocket science, and more across companies such as General Motors, Boeing, NASA, and Virgin Hyperloop
Memorandum of understanding (MOU) with VerdeGo Aero to supply its turn-key propulsion system solution including motors, batteries, battery management systems, generators, and turbine power heads
Selected by Uber as Small Emerging Technology Company to display prototype of its autonomous, electric VTOL aircraft (MOBi-ONE) at Uber Elevate Summit 2018; presented a sub-scale model of aircraft at the 2018 North American International Auto Show in Detroit
Design and utility patents pending for MOBi eVTOL aircraft
6Degrees Ventures led its $965k pre-seed round
Use of Proceeds
Aircraft Development: 45%
Salaries: 25%
G&A: 20%
Marketing: 10%
Management Team / Advisory Board Bios
Jon Rimanelli - CEO
Jon is an electronics entrepreneur and private pilot with over 1,000 hours of flight time. He is the founder of Detroit Aircraft and Nextronix Inc. As a contract electronics manufacturer, Jon spent 22 years prototyping and mass producing mission-critical components for automotive, aerospace and communications systems. In 2013, Detroit Aircraft teamed with the nation’s leading defense contractors to manufacture and distribute VTOL UAS for civil and commercial customers worldwide. Jon has represented various public safety government agencies to the Federal Aviation Administration for UAS integration. Jon believes the promise of safe and affordable urban air mobility can be realized leveraging Detroit's automotive industrial base, skilled labor and intelligentsia.
Anita Sengupta - Chief Product Officer/ VP Business Development
Leveraging her experience leading Mission Critical programs in both public and private sectors, Anita will lead our team across several key functions including organizational leadership, product planning and development, capital raising, strategic planning, business model development, go-to-market strategy, marketing, supplier / customer partnerships and negotiations, Mission Assurance, Regulatory Compliance and intellectual property.