On Saturday April 30th at 11pm EST, our Wefunder Community Round formally concluded. We're thrilled to welcome our 1,827 investors to Hempitecture. Together, with each and every one of our investors, we surpassed our goal and raised nearly $4.7m.
What's a Community Round? A Community Round is a way for companies like Hempitecture to bring together both strategic investors and individuals that may be investing for the first time, to share in the opportunity and potential upside of early venture funding. We chose to host our round on Wefunder.
The proceeds of this financing round are already being deployed to support our manufacturing facility build out in Jerome, Idaho. This manufacturing facility will be the first HempWool® insulation manufacturing plant in the US, which allows us to support the emerging US supply chain for hemp fiber. With the support of our investors, we will be manufacturing an American made product and creating new, cleantech jobs in a rural community.
Additionally, the proceeds of our round will be contributed towards growing our team, developing our marketing, and accelerating our research and development. The close of our round is truly just the beginning of an exciting next chapter.