DuckPond Technologies, Inc. (DuckPond/DPT), a startup tech firm with a primary focus on developing enterprise software and Hip-Hop infused sports gaming apps, is announcing the opening of its Series Seed-1 Preferred Stock capital raise of $1.5 million on a $50 Million post-money valuation.
This follows an initial convertible debt round of $1 million.
The Series Seed-1 Preferred Stock capital raise is being led by Mr. James Moore of Prairieville, LA, with an initial investment of $250,000. An exceptional businessman, savvy investor, and advisor, Mr. Moore brings a timely capital injection and wise counsel to DPT. "DuckPond Technologies is a rare species among startup tech companies, especially along the I-10 corridor. I've never seen such passion, purpose, vision, and focus as I discovered in Dartanyon. I'm proud to be in partnership with him and the DuckPond Team as they build a great technology company," said Mr. Moore.
Under the leadership of its Founder, and CEIO (Chief Executive and Innovation Officer), Dartanyon A. Williams, DuckPond has successfully focused on fundraising, talent acquisition, and product development, in that order. With the recent onboarding of Dr. Wallace Lynch as CITO (Chief Information and Technology Officer), DPT is refining its technology roadmap and product development pathway.
"I fully support Dartanyon's decision to allocate as much as 90% of our Company's resources to talent acquisition and product development," said CITO Dr. Lynch. "I am here for it all and we are looking forward to doing the vital work to build a company that honors our heavenly father Yahweh, and our community."
DuckPond's first product offering will be a mobile sports game labeled Hip-Hop Golf, which is due to be introduced in August of 2023 to commemorate the 50th anniversary of Hip-Hop as a culture and global phenomenon. The gaming app will initially be available on the App Store and Google Play.
Hip-Hop Golf is the first of 10 planned games in a series appropriately titled Hip-Hop Sportz. Each game will allow users to play selective sports in a digital, urbanized MetaVerse, at preferred locations around the world in colorful environments infused with the culture and attitude of Hip-Hop. The Hip-Hop Sportz ecosystem is designed as a decentralized consumer-first technology that will have immersive virtual and augmented reality capabilities, crypto programming, zip-vertising, and non-fungible, scalable digital real estate transactions.
As the Company raises capital, Williams compares DuckPond to a biblical analogy. "We are like David in the battle against Goliath when it comes to competing for investment dollars from venture capital and private equity firms," said Williams.
Instead, Williams is raising capital for DPT organically, through individual Angel investors like Mr. Moore, and high-net-worth individuals who can appreciate the potential financial returns and the value created in the community that DuckPond Technologies will bring.
"It is very difficult in today's environment for early-stage companies like DuckPond to pursue institutional money and stay in control of their vision," added board member Greg Campbell. "DPT has crafted an effective funding strategy that relies on grassroots, individual investors who understand financial projections and the socio-economic value DPT can create in the community. Eventually, when the company has readied its product line and lifted its valuation, DPT and its subsidiaries will be viable candidates for PE and VC funding."
Through the support of Atlanta-based Morris, Manning & Martin LLP and Roy Kiesel, Ford, Doody and North Law Firm of Baton Rouge, DuckPond Technologies holds several innovative pending patents focused on consumer protection in the areas of payment network security, remote voting technology, cybersecurity, gamification, and autonomous vehicular and identity theft prevention technology.
About DuckPond Technologies Inc.
DuckPond Technologies Inc. is a Delaware-registered Corporation headquartered in Baton Rouge, Louisiana. The company is focused on developing enterprise software and innovative products that improve company efficiency and enhance the quality of life for consumers across various industries. DuckPond Technologies' leadership team has more than 100 years of experience in technology, human resource management, administrative operations, senior executive leadership and management, transformative change, and entrepreneurial innovation.