Navdy Announces $6.5 Million Seed Round Led by Upfront Ventures
Makers of ‘Smart HUD for your car’ complete highly oversubscribed $6.5M seed round, followed by viral $3M pre-order campaign
SAN FRANCISCO – (October 2, 2014) — Today the creators of Navdy, the breakthrough Head-Up Display (HUD) for any car, are announcing the company has closed $6.5 million in Seed Round funding, led by Upfront Ventures. This was the company’s first ever round and was highly oversubscribed, nearly 3X the original plans for raising $2.4 million. Other participating funds include Ludlow Ventures, Lightbank, Promus Ventures, MESA+ I, Eniac Ventures, Wareness.io, et al.
The funding round closed on August 1st, prior to Navdy’s pre-order campaign, which launched on August 5th and hit $1 million dollars in pre-sales in just the first week of the campaign. Due to strong sustained demand that surpassed $3M overall, the company has extended its pre-sale campaign. Consumers are still able to pre-order at http://navdy.com/preorder.
“Navdy improves driving safety by keeping your eyes on the road and using GPS to identify appropriate times to display selected information. We are thrilled to be supporting a business that has great potential and makes life safer and more fun.” said Steven Dietz, Partner at Upfront Ventures.
Other notable angel investors include: Shervin Pishevar, Brad Feld, Eric Ries, Naval Ravikant, Semil Shah, Don Norman, and Dan Shapiro. Navdy will use this new round of funding to hire additional software and hardware talent and scale up its manufacturing plans.
“We couldn’t be more thrilled to be partnering with an array of different investors of such high pedigree that all share our vision of making using your phone in the car easier, safer and more intuitive,” said Navdy CEO and co-founder Doug Simpson.
Navdy backers are still able to pre-order, the revolutionary HUD for any car, at the introductory price of $299, a 40 percent discount from its projected retail price of $499. Navdy has also extended its referral program, offering a $30 discount per referral, for up to ten referrals.
To pre-order Navdy and get more information on the company, visit: http://www.navdy.com
Navdy was founded by entrepreneur Doug Simpson and serial inventor Karl Guttag, and is supported by a highly accomplished veteran team. In 2013 it went through the acclaimed Highway 1 Incubator program and continues to work closely with Highway 1’s parent, PCH International, whose world class supply chain and manufacturing capabilities are used by companies such as Apple, Beats, and Google. For more information visit: http://www.navdy.com
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- Lucy Donahue
- PR Manager for Navdy
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