How Kirsh Helmets and Impact Technologies Raised $1MM seed round in 6 months
In case you missed it, Kirsh Helmets, Inc. and Impact Technologies, LLC closed a seed round worth $1,000,000 in an oversubscribed offering in early July. The company plans to use the funds to further their entrance into the motorcycle helmet market.
It’s an impressive sum, even before you realize the company is less than a year old. They did it by creating a great product, finding a champion, and leveraging their network.
The Product:
Kirsh Helmets plays in the motorcycle helmet vertical market where they commercialized the technology of Impact Technologies LLC.
Kirsh Helmets makes the smallest, safest, DOT approved helmet on the market, and they are the only American Made helmet company. Kirsh takes a new approach to helmet design by using patented silicone technology, leveraging the material’s fluid dynamics properties, as the base for its “Kinetic Impact Reactive Safety Helmet.” The resulting helmet is lighter and smaller than any other helmet currently on the market.
“With investment proceeds in place, Kirsh Helmets is positioned to disrupt an industry that hasn’t seen major innovation in decades,” says Jason Kirshon, founder and CEO of Kirsh Helmets and Impact Technologies, LLC.
The Champion:
“This is a category killer,” says Eric Leander, Managing Member of Square Peg Venture LLC and a Founding Partner of the Wagoner Firm, PLLC.
Square Peg Ventures, LLC is an early stage fund established by Albany based startup attorneys Eric Leander and Matthew Wagoner, of The Wagoner Firm, PLLC.
“We put our money where our mouth is,” continued Leander, “Square Peg was the first money in. We recognized the market potential of Jason’s technology immediately.”
“We are firm believers that early stage investors need to bring more to the table than just money” states Wagoner. Wagoner and Leander have strong ties with Kirsh Helmets and Impact Technologies as The Wagoner Firm, PLLC also serves as the company’s general counsel.
Wagoner adds, “We were happy to step up and provide Kirsh and Impact Technologies with the legal horsepower they deserved. Businesses like this can firmly establish the Capital Region as both a technology and entrepreneurial hub. The region needs more entrepreneurs like Don [DeVito, President of Kirsh Helmets] and Jason, and we’re just doing our part to support the tech ecosystem.”
The support from Leander and Wagoner can be seen throughout this round. Square Peg continued to contribute its endorsement of the companies through investing, while The Wagoner Firm represented the companies in this negotiation and closing of their latest and single largest capital investment from an undisclosed investor.
“All hurdles surrounding the negotiations, documentation, and closing of this deal were eliminated by the adept negotiations, creative suggestions, and collaborative approach of our attorneys,” added DeVito.
The Network:
Kirsh Helmets is located in the New York BizLab, a Schenectady-based incubator. This round started by reaching out to the BizLab’s Virtual Fund Network of Advisors.
BizLab founder and President Antonio Civitella says Kirsh Helmets is a great addition to Upstate NY’s startup ecosystem. This funding round especially demonstrates the value of being connected to a startup community such as the BizLab.
“Support from the community has been overwhelming, people are eager to help us succeed,” says DeVito. “We’re looking forward to growing this company, bringing manufacturing back to the US, and having a positive impact on the technology sector in the Capital Region.”
This combination of technology, a champion, and a network made it possible for Kirsh Helmets to grow quickly and lock down a $1MM investment round. If they did it, you can do it too.
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