It was just days before Christmas when all through town, few companies were raising funds and the quiet was abound. It’s been a year of slow capital for companies of all sizes, but Denver-based Kokopelli Outdoor pulled in a prize.
The Longmont-based outdoor startup raised nearly $1.05 million in equity, according to a Dec. 21 filing with the U.S. Securities and Exchange Commission. This capital came from two investors.
The company didn’t respond to requests for comment.
Kokopelli designs, manufactures and sells lightweight, inflatable packrafts, kayaks and stand-up paddle boards. Its most versatile packraft, the XPD, is made of reinforced PVC, weighs 14 pounds and when deflated can fit into a backpack. Kokopelli’s stand-up paddle board can also fit in carry-on luggage or a backpack and weighs 12.9 pounds but can support up to 250 pounds.
The startup also offers accessories like waterproof and weatherproof bike bags, paddles, pumps and shirts.
Founded in 2012, Kokopelli got its start in a garage in Denver where three grade-school friends turned their passion for innovation and the outdoor industry into a business. Now, more than 10 years later, the company has a suite of products for packraft seasoned vets and new enthusiasts looking to explore nature.
“We’re focused and driven to make Kokopelli a continued success and have every intent to do it together as a team,” Kokopelli co-founder Kelley Smith wrote in a blog post last year. “... The team continues to grow and we will stay true to our vision for creating purposeful outdoor adventure gear, fostering a growing community and having fun while doing it.”
Kokopelli has raised at least $6.76 million to date, including $3.45 million in late March, according to Form Ds filed with the SEC. The startup also pulled in $140,500 from 184 people for its stand-up paddle board through a crowdfunding campaign in 2022.
According to the Dec. 21 SEC filing, Kokopelli plans to raise an additional $454,901, bringing this recent round’s total to nearly $1.51 million.
