Drone company Aeronavics raises $1.5m equity in a week

Drone building company Aeronavics has hit its maximum equity raising target in a quarter of the allocated time.

The raglan-based company launched a campaign with equity crowdfunding website Snowball Effect last week, hoping to raise between $750,000 and $1.5m.

It hit the $1.5m ceiling at 6:54 last night, closing the campaign three weeks before the March 14 deadline.

Total equity sold was for 15 per cent of the company.

“There was a run for it yesterday, and that was it,” said co-owner Rob Brouwer .

He said the company was attracted to the crowdfunding method because it gave ordinary New Zealanders a chance to invest.

“It’s quite a phenomenon really, the whole crowdfunding thing around the world.”