Who’s Leading Reg CF Campaigns? Solo vs. Co-Founders

CHART OF THE WEEK

Valentine’s Day may celebrate partnerships—but equity crowdfunding tells a different story. Between 2023 and 2025, solo founders led 51.7% of raises, flipping the historical majority from co-founder teams. This week’s chart explores what that shift says about speed, risk, trust, and startup resilience in today’s fundraising environment.

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EVENTS

Save the Date: Investment Crowdfunding Week Returns April 13–15

We've spent the past year thinking about what it looks like to truly raise the bar for investment crowdfunding — and we're putting that into action this spring.

Investment Crowdfunding Week 2026 is a free, three-day virtual event featuring 20 hand-selected companies pitching live, alongside expert panels and data-driven insights from the Kingscrowd team. Every company you'll see has been vetted by our analysts — and many of these raises will be closing by the end of April, so the timing couldn't be more relevant.

If you've ever wanted to see the best of what this industry has to offer in one place, this is it.

KINGSCROWD PODCAST

By Sam Fiske / Watch | Apple | Spotify

We break down Hylio’s latest raise, manufacturing hurdles, FAA regulatory progress, and what investors should watch next. Plus, a quick recap of new Kingscrowd product updates and tools now live on the platform.

UPCOMING EVENTS

PITCH REVIEW 💸

By Léa Bouhelier-Gautreau \ Deal Report

Brief: Solgaard makes innovative travel and lifestyle gear by upcycling ocean plastic into its proprietary fabric, Shore-Tex. Solgaard’s products are ultra-durable, premium, and water-resistant, and cater to the travel, work, and home needs of modern customers looking for sustainability. The company has sold over 1 million products to more than 500,000 customers and has generated over $200 million in lifetime revenues.

Léa’s Quick Take: Whoever has taken a multi-stop trip knows the struggle. You constantly unpack and repack, dig through your suitcase looking for one item, and end up with clothes everywhere. Travel gets messy fast.

Adrian Solgaard created Solgaard to fix that problem. The company designs premium carry-ons, checked luggage, and travel bags built around an integrated shelving system that lets travelers pack once and stay organized throughout the trip. The concept is simple but effective: instead of dumping your clothes into drawers at every stop, you lift out a built-in closet system. While packing cubes exist, Solgaard’s fully integrated design still stands apart in the luggage market.

Solgaard clearly meets a real demand. The numbers show it. The company generated $54 million in revenue in 2023 and $47 million in 2024. At a $154 million valuation, that translates to roughly a 3.3x revenue multiple based on 2024 sales. For a consumer brand with strong online traction, that multiple is not excessive. Solgaard has proven it can execute, especially in direct-to-consumer channels, where it built brand awareness and scaled quickly. Now, the company is expanding into retail to reach a broader audience and strengthen brand credibility. Its sustainability angle, using recycled ocean-bound plastic collected in Indonesia, adds another layer to the story and resonates with environmentally conscious consumers.

What makes this deal interesting is that it is not a no-brainer. Revenue declined in 2024, which raises questions about growth durability. The luggage market is highly fragmented and extremely competitive, with established brands like Samsonite controlling significant share and benefiting from decades of brand trust. One serious competitive threat comes from Samsonite’s packing cube closet, priced under $60. Because it works with many different suitcases, consumers can get a similar organizational benefit without buying an entirely new piece of luggage. That flexibility makes it a strong alternative.

Solgaard sits in a difficult middle ground. It is no longer a small startup proving product-market fit, but it is also not yet a dominant global brand. Growth will depend on its ability to maintain differentiation, expand distribution without hurting margins, and defend against cheaper functional substitutes.

Still, Solgaard has built a recognizable brand, meaningful revenue, and a product that solves a clear travel pain point. If management can reignite growth and strengthen its retail presence, there is room for upside. For investors who believe strong consumer brands can still break through crowded markets, Solgaard is worth a closer look — but it requires confidence in continued execution.

STAFF PICKS 🌶️

Artly

By Teddy Lyons

Artly AI builds a patented platform that trains robots via human demonstrations in 30 minutes for tasks like latte art and food prep. With 1M+ drinks served, $5M total revenue, 11 live locations for brands like Tesla, MUJI, Salesforce, and Microsoft, it has Fortune 500 partnerships.

Oxeia Biopharma

By Teddy Lyons

Oxeia Biopharma develops OXE103, a novel therapy for persistent concussion symptoms, aiming for the first FDA-approved treatment. With an 85% responder rate in Phase 2a trial and plans for Phase 2b enrollment in 2026, the treatment targets millions affected annually.

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