Advanced ceiling electrical outlet platform
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SKYX Announces $4 Million Strategic Investment from Philotimo Fund, LP, Investor in Growing Small-Cap Companies, at $2.00 Per Share in Straight Common with No Warrants
Globenewswire· 2026-01-14 15:42
Core Viewpoint - SKYX Platforms Corp. has successfully raised a total of $14 million in funding over the past three months, which will support its growth initiatives and path to cash flow positive status [3]. Funding Details - The latest investment includes a $4 million equity investment from Philotimo Fund, LP, at a price of $2.00 per share, resulting in the purchase of 2,000,000 shares of common stock [2]. - This investment is part of a broader funding effort that has seen approximately $14 million raised from strategic investors and long-term shareholders [3]. Company Overview - SKYX is a technology platform company focused on creating smart, safe, and advanced homes and buildings, holding over 100 issued and pending patents globally [6][7]. - The company operates more than 60 lighting and home décor websites, targeting both retail and professional markets [7]. Market Potential - SKYX estimates its total addressable market in the U.S. to be around $500 billion, with over 4.2 billion ceiling applications available [9]. - Revenue streams are expected to include product sales, licensing, royalties, subscriptions, and monitoring services [9]. Business Model - The company follows a "razor-and-blades" model, with a focus on advanced ceiling electrical outlet platforms and a growing portfolio of plug & play smart home products [8]. - SKYX's technologies are designed to support recurring revenue opportunities through product interchangeability, upgrades, and AI-enabled services [8]. Strategic Vision - The company aims to expand its retail distribution and commercial deployments while building out its AI ecosystem, positioning itself for significant growth in 2026 and beyond [5]. - The new investment reflects increasing institutional recognition of SKYX's platform vision and technology leadership [5].