Asap water crafts successfully raised £150,000

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102%

Raised: £154,380

Investors: 229

Target: £150,000

Equity: 7.38%

Pre-money valuation: £1,937,500

Electric jet boards that blast you through the water, for the ultimate adventurer, or for rescue to reach people faster. Made by Asap Water Crafts in the UK.

Product developed to production level with a patent & strong IP
Production setup with UK assembly facility
Previously raised £280k via Crowdcube & £150k in Seed funding
Launched with dealers worldwide with early sales traction

Idea

Crowdcube video

Asap has developed a powerful electric jet board that blasts you through water, for rescue or leisure applications.

Our custom-built enclosed electric propulsion is powerful to jet you across lakes, rivers or through surf, giving you an incredible feeling of flying across water.

Originally designed for single-person rescue, Wave Jam, our leisure model is for boat owners, watersport centres/rental and resorts.

In production and selling worldwide, we have been granted EU Design Registration and have EU & US patents pending.

The water sports market is growing (+11% to $28.5bn by 2021) – global trends such as paddle boarding and inflatable water parks show more demand than ever for new water experiences.

Following successful cave tour trials with Newquay Water Sport Centre, we are planning trials with Haven Holidays and have interest from Center Parcs, as well as sales growth with more dealers internationally.

Over the past year, we have grown production making significant improvements - lowering assembly skill level with a modular/serviceable design. Ready to scale production further, we have a goal to reduce product costs by at least 30%.

Your investment will allow us to scale, with a big marketing push, lowering product manufacture costs and providing required capital to fulfil orders quicker.

This is your opportunity to be involved with our exciting future.

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Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

Asap water crafts has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.

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