DeepFlight has launched a Series A round using equity crowdfunding to support the next evolution of the DeepFlight submarines, with the goal of dominating the market for private submarine ownership as well as accessing the emerging market of undersea tourism
DeepFlight, a company that innovates high performance personal submarines, has launched a Series A round using equity crowdfunding on crowdfunder.com to address an estimated $100 million market for personal submarines for the superyacht and tourism markets. The Company has already established initial sales to early adopters, including the late adventurer, Steve Fossett; venture capitalist, Tom Perkins; the founder of Red Bull, Dietrich Mateschitz; Sir Richard Branson, and others. The goal of the campaign is to raise $2.5 million to support the next evolution of the DeepFlight submarines and dominate the market for private submarine ownership, as well as access the emerging market of undersea tourism.
Led by industry pioneer, Graham Hawkes, DeepFlight has invested the last twenty years perfecting the DeepFlight submarines through five generations of working prototypes. The Company’s flagship technology, DeepFlight Super Falcon, is a fundamentally new type of submarine whose patented winged design offers the unparalleled experience of underwater flight and the unique safety of automatic return to the surface. Over the last two years, DeepFlight has refined its product roadmap with five different craft, optimized for the various market segments. While several other companies have recognized the market potential for personal submarines, none have adapted their designs for large-scale recreational use.
DeepFlight presently generates revenues through sales and service contracts, and currently has contracts in-house worth over $3 million. The Company’s first sales have been to high net worth individuals (HNWI), including superyacht owners. Its near term business model is to continue to target the $10 billion global superyacht market, with the goal of equipping 1% of the superyacht fleet with DeepFlight craft by 2020 for a projected $80 million in revenues. Additionally, the Company has delivered DeepFlight craft to two resort locations and the Company anticipates continuing to expand its revenues from resort and tourism operations..
DeepFlight is taking advantage of Title II of the Jobs Act which has recently allowed private businesses to generally solicit and publicly raise money from accredited investors via equity crowdfunding. This technique is entirely different from rewards crowdfunding which does not allow for equity investments. The Company is seeking to raise $2.5 million; information regarding the equity raise is available at crowdfunder.com/deepflight. The funds will be used to build and commercialize the next generation of DeepFlight personal submarines, including its newest product line to be introduced in Q4 2014, and to expand its marketing presence in its target markets.
President of DeepFlight, Adam Wright, stated, “We are excited to launch our campaign on crowdfunder.com. Having proven our technology and established initial sales, we see a great opportunity to grow the market for undersea recreation and tourism. In the short term, the Company expects most of our orders will continue to come from individuals, however, we anticipate expanding our business to include other large-scale recreational and tourism activities.”
Tom Perkins, venture capitalist and owner of a DeepFlight Super Falcon, said, “I spent three years adventuring in the South Pacific with my DeepFlight craft, and the experience exceeded my wildest imagination. I believe DeepFlight is well-positioned, with a proven technology, to capitalize on the new possibilities for private exploration of our oceans, and to grow this company to its potential.”
Graham Hawkes, Founder and Chief Executive Officer, added, “Even though we live on an ocean planet, there are few commercially available technologies that can provide an engaging underwater experience to a large number of users. From the beginning, our DeepFlight submersibles have captured the public’s imagination, and I am thrilled that we are now able to invite the public to support our initiatives to open the oceans to a larger audience. I look forward to introducing our newest product line in the coming year, and I am fully confident that our DeepFlight personal submarines will expand the market for undersea recreation.”
More About DeepFlight:
DeepFlight, formerly Hawkes Ocean Technologies, was founded in 1996 by world-renowned engineer, Graham Hawkes, with the goal of innovating underwater technologies to expand human access to the oceans. In 2012, the Company pivoted from a research and development organization to focus on commercializing its submarines for the recreation and tourism markets. The Company’s flagship technology, DeepFlight Super Falcon, is a fundamentally new type of manned underwater vehicle that is a combination of submersible and high-performance aircraft. DeepFlight is globally recognized for its series of advanced personal submarines, designed, built and operated for the private owner and recreational markets, including the superyacht and tourism industries.
Thanks to GoPro, view an actual DeepFlight dive in Hawaii’s Humpback National Marine Sanctuary
Go to crowdfunder.com/deepflight to learn more about this investment opportunity.