Successful Crowdfund Case Study: Magnetica

Campaign Year: 2016

Campaign Type: Au - Wholesale

Campaign Duration: 37 days

Amount Invested: A$1,110,760 invested

N° of investors: 21

Average Investment: A$52,893.33

% Funded: 132.2%

Magnetica is an Australian biomedical engineering and technology company specialising in next generation Magnetic Resonance Imaging (MRI) technologies. Magnetica has developed and patented lucrative IP and technology that allows smaller, lighter, faster and cheaper MRI systems to be built. Components of the patented technologies have already been utilised under license by global medical systems integrators.

Currently there is no very high field (3.0T) compact specialty orthopaedic MRI product available in the commercial market. Magnetica, in collaboration with a global medical systems integrator partner, has started commercialisation of this product. Magnetica is also in the process of developing a proof of concept for a unique asymmetric MRI Head Scanner, including development of a prototype magnet and gradient coils.

To complete commercialisation and proof of concept of these projects, fund business development of Magnetica’s RF Coil business and to meet working capital requirements, Magnetica sought a capital raise through the Equitise platform. Over 37 days A$1,110,760 was raised from 21 investors, overfunding by 32.2%.

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