We’re excited to announce that we have completed our initial pre-seed funding round, surpassing our goal with money raised from 7 investors. A huge thank you to all who invested, the funding has already made a big impact! We look forward to having you involved in this journey as we continue to build and develop PowrLine.
A portion of the amount raised has already been used to pay our attorneys to establish a strong legal foundation for PowrLine as a business and avoid legal complications as we grow and accept larger investments in the future. The remaining majority of the funding will be used to cover data hosting, software fees, and strategic marketing costs as we bring more users onto our beta. We estimate this gives us roughly 6 months of runway at our current rate of growth, which is plenty of time to establish actual revenue and/or secure additional funding.