Most Funded On StartEngine For The Week Of July 4th

Investors are reversing their negative outlook on the U.S. economy as concerns regarding a potential recession fade. 

This comes as the U.S. gross domestic product (GDP) has still not chartered into negative territory, with industry-leading publicly traded companies reporting significant profits and the stock market bouncing back from the recent bear market. 

According to a report released by EY, venture capitalist-backed companies raised $44.1 billion in the first quarter of 2023 — 37% higher than the last quarter of 2022. Given the recent banking crisis, startups are increasingly opting for equity crowdfunding sources. 

Take a look at the most-funded startups on StartEngine.

Timeplast

There’s a concerning amount of plastic in the world’s oceans and landfills. By some estimates, there are more pounds of plastic in the world’s ocean than fish. Fortunately, startups like Timeplast are looking to fight back with their “programmable plastic” solution. Their plastic can completely dissolve in water, leaving behind no microplastics in just a few hours. The startup has raised over $4.3 million on StartEngine.

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WiGL

WiGL Inc. facilitates touchless wireless power transfer through its proprietary WiGL-enabled transmitters. These convert AC power to wireless power grids, allowing several home gadgets and devices to connect to the network without power cords or blocks. The wireless WiGL-enabled network is approved by the Federal Communications Commission (FCC). 

WiGL is the first Registration Crowdfunding (CF) raise on StartEngine to hit the $5 million cap. With fully patented technologies and multiple government contracts, the startup is well-positioned to disrupt the fast-growing multibillion-dollar wireless charging solutions and Internet-of-Things (IoT) market. 

WiGL previously raised nearly $5 million through crowdfunding on StartEngine and currently raised over $4.4 million from 2,845 investors in its latest raise on StartEngine, which is live till March 2024.

Fanbase

Fanbase is a microcast social media platform that enables members to customize their entertainment based on their interests. With subscription expenses going through the roof, Fanbase offers viewers a relatively inexpensive alternative. The startup is poised to challenge the dominance of leading over-the-top (OTT) platforms thanks to its unique services and latest unlimited subscription functionality. 

Since its launch in July 2021, Fanbase's monthly recurring revenue increased by 35%, while its subscription revenue increased by 164% year over year. The OTT startup has a subscriber base of more than 270,000 as of 2022. Fanbase also launched short-form video editor Flickz and drop-in audio chat Fanbase Audio 2.0 to compete with popular social media platforms, including Instagram and TikTok. 

With a market valuation of $84.93 million, Fanbase is one of the most-funded platforms on StartEngine. It previously raised approximately $5.73 million through Regulation A+ and CF offerings. The startup has raised $3.36 million from more than 4,400 investors during its latest equity crowdfunding round, which is live until June 28. For a minimum investment of $244.90, retail investors can acquire 2,531 shares. Fanbase will close its current raise when it reaches $5 million. 

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Legion M 

Legion M is the world's first fan-owned entertainment company, aiming to unite 1 million fans as shareholders and become one of the most influential companies in Hollywood. The company has numerous positive reviews from famed actors, including William Shatner and Stan Lee. Legion M pools money raised from retail investors through crowdfunding platforms to make strategic investments in projects. 

Legion M previously sold out a fan-finance documentary on Shatner, known for his iconic role of Capt. Kirk on "Star Trek," at South by Southwest (SXSW) 2023 in just four days. Its annual accumulating revenue streams crossed $1 million in 2021. The startup is currently valued at $58.68 million. 

Legion M previously raised more than $15 million from prior crowdfunding rounds, valuing the business at $58.68 million. The startup aims to raise up to $20.7 million in its latest crowdfunding round on StartEngine, which is live until Oct.14. Legion M has raised $2.74 million in the current raise from over 10,700 investors. It has a minimum investment requirement of $39.60.

See more on startup investing from Benzinga:

• There are more pounds of plastic in the ocean than pounds of fish. That’s why retail investors have invested over $4 million in This Startup That Invented Programmable, Drinkable Plastic That Dissolves In Water In 60 Hours
•  Gamers are selling their old gaming items for millions. Learn why everyday gamers and investors are claiming a stake in their side hustle and how they invested over $1.2 million in this startup.