🚀 3 game-changing tech startups with big updates!

🔔 Your campaign updates feed

⚡ VoltSafe is back by popular demand! VoltSafe successfully raised $850k from 79 investors by the end of December. Now, they’re continuing their campaign to further support the commercialization of VoltSafe’s flagship technology. Read more about their extension announcement here.

🚗 HOVR is racing toward the finish line with their campaign closing soon! They are also celebrating reaching over 90% of their $800,000 target raise. If you’ve been considering investing in this innovative ride-share disruptor, now is the time. Read more about their milestone accomplishment.

🌷 Flower Turbines is excited to announce their new game-changing blades that are lighter and more efficient. These new blades are made from a thermoplastic mold that costs $100,000 but is estimated to be 40% more efficient. Read more about their update here.

🔔 Alumni news

😍 Blossom Social just announced a new partnership with Wealthsimple! These two financial giants are promoting a #MyStory campaign where investors can share about their investing journey in the Blossom App for a chance to win 1 of 25 prize packs. Read more about the campaign and partnership here.

⏳ joni just announced the upcoming launch of a limited-edition product designed to elevate period care, bust stigmas, and bring a little fun to your routine. We don’t know what it is but we can’t wait to find out. Sign up today to receive the exclusive pre-sale email this Sunday.

📢 HEMPALTA shared a big press release this week highlighting their enhanced strategic focus on the global hemp carbon credit market and announcing a non-brokered private placement. Read about this new business development here.

🤔 What’s on our minds

In a move that surprised many, MEC is up for sale for the second time in only five years. The Vancouver-based company formerly known as Mountain Equipment Co-op was sold to Kingswood Capital Management for US$150M in 2020 after entering creditor protection.

The sale was relatively controversial at the time. MEC was famously known for its co-operative business model with over 5 million members, built on shared ownership, democratic decision-making, and a focus on community over profit.

In recent years, the company has been restructuring the business by making changes to its leadership, focusing on MEC-owned product lines, and renegotiating leases. However, like many retailers, they have struggled with too much inventory post-pandemic.

BC Business spoke with David Ian Gray, a retail strategist from MEC, who explained that the company lost sight of the two customer types they relied on - the experts and the backcountry campers by trying to also reach the yoga enthusiasts and the urban recreational athletes.

The company was trying to expand by diversifying the business but ended up with too many products to carry and not enough focus on the core shoppers who drove MEC’s brand. Not only did the company move away from a community-owned model but they started moving away from their core customer.

In our experience, when markets are changing, strong communities can help businesses navigate the uncertain waters. Equity Crowdfunding is emerging as a way for more private companies to welcome their community of customers and supporters as co-owners.

These co-owners become passionate advocates for the company and in many cases, lifelong customers. As we head into the second half of the 2020s, we expect to see more businesses pursuing a community investment model to drive company growth and longevity.

🌟 FrontFundr Bulletin

📆 FrontFundr is excited to share that our Annual General Meeting (AGM) is coming up on February 12th. We’re thrilled to welcome our 1,200+ shareholders for a chance to hear about last year’s performance and our plans for 2025. If you are one of our shareholders and missed the invite, reach out to [email protected].

🎟️ Our CEO, Peter-Paul Van Hoeken, is thrilled to be a panelist for Global Startups’ Lessons Learned: Investors & Funders Series. He’ll be joining Jason Lee, the Director of Strategic Programs at Ontario Centre of Innovation (OCI), and Hai An Bui (Andy Bui) the Co-Founder of Ontario Startup Studio for an evening of good conversation. The event is on February 13th at Global Startups HQ in Toronto. Learn more and register here.