Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk generated headlines last year when he announced in a tweet that he would sell almost all his physical possessions and will not own a house. Musk reportedly followed through with that plan and moved into a tiny house in Texas after disposing of all of his mansions.<\/p>\n
Recent rumors suggested that Musks primary residence was a prefab house manufactured by Boxabl. It turns out, however, that the $50,000 foldable house is actually being used as a guest house.<\/p>\n
Boxabl is a rapidly growing startup that has gained popularity partially thanks to Elon Musk, but also because of the growing demand for tiny homes and a housing affordability crisis with no end in sight.<\/p>\n
The companys flagship product is the Boxabl Casita, a 20-foot by 20-foot accessory dwelling unit that can be delivered directly to a customers backyard and ready to occupy in an hour. The unit is fitted out as a studio apartment with a full-size kitchen, bathroom and living room and is expected to sell for $50,000.<\/p>\n
The company recently completed a $9.2 million order for the U.S. government and has a waitlist of over 120,000 units. To fulfill the current demand, Boxabl is raising capital from institutional and retail investors to build the world's largest and most advanced housing factory.<\/p>\n
Boxabl received a strategic investment from D.R. Horton Inc. (NYSE: DHI), who agreed to share resources to help the company scale and placed an order for 100 units. The company is also raising capital on StartEngine through a Regulation A+ offering, which allows non-accredited investors to buy preferred shares with a $1,000 minimum investment.<\/p>\n
The current crowdfunding campaign for Boxable on StartEngine has already exceeded $19 million in addition to over $55 million that was previously raised.<\/p>\n
Photo: Courtesy of Boxabl<\/p>\n
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The Company That Built Elon Musk's Tiny Home Has Now Raised Over $74 Million From Retail Investors - Yahoo Finance<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk generated headlines last year when he announced in a tweet that he would sell almost all his physical possessions and will not own a house. Continue reading