The Module Project launched an equity crowdfunding campaign to support its high performance, sustainable, upgradable and customisable modular consumer technology company.
Funds raised will be used for design, engineering and prototyping, as well as the launch of its first product – a mobile wireless speaker called Decibel. The company says Decibel is a departure from current technology products. It is engineered for longevity – it’s modular, user upgradeable, customisable and recyclable.
“Decibel, our first product, is the first step toward repairing the problem with current, large technology brands. They sell consumers replacement devices by heavily promoting incremental upgrades and by making sure their current device has a limited viable lifecycle,” said Ketzal Sterling, Managing Director, Module. “This is wasteful of both resources and energy. It shows complete disregard for both their customers and the environment.”
“Module aims to change how we as consumers interact with consumer technology. Module is a company with the sole purpose of designing and manufacturing the longest lasting technology products ever created.”
“Module will dramatically increase the lifespan of technology products. And our first product Decibel is designed to last a lifetime, a demonstration of that commitment. The positive environmental implications of this ethos are monumental. The benefits to consumers are unequivocal,” added Sterling.
Module is offering 1.2 million shares, approximately 10% of the company for a maximum funding raise of $250,000. Each $1,000 investment will give investors 4,800 shares.
The regulated offer, which opens today, is being made through AlphaCrowd's equity crowdfunding platform and can be found here.