Kara is raising up to $1.4M on $4.0M pre-money.
$550k committed, closing in March 2020.
Kara Technologies improves accessibility and quality of service for the Deaf by translating customer-facing content using a hyper-realistic computer-generated avatar backed by an AI engine. I have been watching Kara develop their tech and IP since they were part of the Velocity $100K Challenge three years ago. The founding team supplemented by Ken Erskine are passionate and skilled with the capability to really scale this technology. Regulation in the UK and USA are creating pressure for large companies to cater to the deaf community and these companies are Kara's target customers.
Following a $700K convertible note round Kara has a built a Minimum Viable Product. They are seeking $1.4M at a $4M valuation to further develop their technology and sell their services in US and UK, and have raised $550K to date. I am investing in this round because I see a lot of value being generated by Kara's technology, especially when they reach stage 3 of their product. I am satisfied that the concerns I had around market and valuation have been adequately addressed in the DD report that has been prepared in collaberation by Enterprise Investment Fund (IEF), Enterprise Angels and NZVIF.
Best regards from Nawaz Ahmed, FKA Champion for Kara ◇ March 2020
Small PRINT: Minimum investment level. $5,000 for FKAngels, $1,000 for U35, $10,000 for general co-investors via FKA Nominees Limited, ZERO COMMISSION charged to founders and investors.