A Flagship Milestone: Closing our fundraising seed round
Today, we are very excited to announce that we have successfully closed out the seed round of the FLAG token sale, setting Flagship up for the next phase of our product and growth roadmap.
Our seed round included funding from more than 60 strategically valuable investors whose roles go far beyond simply providing capital. From serial entrepreneurs to web3 founders, VCs from different parts of the world, trad-fi investors, end-users, as well as an NFT platform partner, the interest in participating were both extremely broad, and extremely encouraging!
As a result, we oversubscribed our target by 33%, and eventually, raised $800,000, ensuring that all of our investment partners had room to participate!
To everyone that participated in the seed round; we are extremely grateful for your trust and belief. As a team, we are very proud to have raised this amount, especially considering the current crypto market and broader macro landscape.
Most importantly, we are happy to see this successful raise as a strong indicator that we’re building something that the market truly wants and needs!
What happens next?
With our seed capital raised, we now move into the next phase of our roadmap — Building!
With our team and infrastructure firmly in place, our technical, product, and design teams have already started the building process of bringing Flagship to life. The key outcome projected for this phase, with a target date of early in the fourth quarter of this year, is to release a minimum viable product (MVP) that is not only fully-clickable but fully functional.
On top of product building, we’ll be ramping up our community building and growth strategy over the next few weeks and months.
Once our MVP is ready to launch and we are satisfied with the community’s feedback, we will move on to the next round of our token sale round — the private sale, which will then be followed by a public sale. From there, our FLAG token will be publicly released, and tokens will be distributed.
What else can we share?
With our seed round complete, we’re happy to announce two additional members to the team.
Stan has joined us as a community architect, with many years of experience under his belt in growing and managing communities of 30 000+ people.
Leila has also just joined the team as our in-house product owner — who will help manage development processes and organizational structures as we continue the process of expanding our technical team.
The team has also been working hard on a data aggregator and performance tracking tool (The Navigator) that we are very excited to announce and share with our users very soon…
PS: If you were a participant in our seed round, you can expect a detailed, dedicated bi-monthly update in your inbox going forward.