- Saffron Tech, subsidiary of Sativus Tech ( OTCPK:SATT ) intends to raise up to 5M New Israeli Shekels or ~$1.5M at a pre-money valuation of NIS 32.5M (~$10M) through the Israeli crowd funding platform – Pipelbiz.
- Assuming the maximum amount is raised, the company will own ~61% of the Saffron Tech.
- This crowd funding financing follows on a similar financing completed by Saffron Tech in early 2021.
- In the past two months, Saffron Tech also raised NIS 800 thousand (~$242K) through the issuance of SAFE’s.
- The SAFE’s are convertible at a 20% discount to the current crowd funding round.
For further details see:
Sativus Tech gets ~$10M crowd funding for its subsidiary, Saffron Tech