The funding round, carried out via the crowdfunding site Crowdcube Spain, started last October and ended the first week of January this year. In almost three months, Smalle Tech has exceeded its funding goal raising 120 % of the initial target, reaping over 240,500 € for 11.79 % equity from 157 investors.
The purpose of the funding round is to finance the marketing of the key product of Smalle Tech, the generator eForcis. The ambitious goal of the company is to install 4,000 units of the device over the next five years.
Moreover, Smalle is currently performing field test of the generator designed specifically for marine fish farms, the BeForcis. This device will allow fish farms to have electricity for sensors, cameras, lighting and other electronic devices where conventional electricity sources do not offer suitable results.