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Valet Storage Accepted Into Newchip Accelerator Investment Platform

Valet Storage, a startup company offering valet self-storage services in the Austin, Texas, market, has been accepted into the Newchip Accelerator, an Austin-based Web and mobile investment platform that connects startups with investors. Launched last year by Newchip Inc., the 10-week program comprises a curriculum of training, one-on-one mentoring sessions and live classes to prepare startups to raise money from angel investors, venture capitalists and crowdfunders, according to a press release.

Valet launched about a year ago. The company uses an online platform that allows customers to schedule item pickup, maintain a visual catalog of stored belongings, and schedule delivery of specific bins or bulky items to their home or business. Similar to other valet-style storage operators, the company offers by-the-bin and warehouse storage targeted at customers who don’t have adequate storage in their home or workplace.

Monthly pricing starts at $6 per month per bin. Customers who require larger space can choose between five options ranging from 130 to 780 cubic feet, with monthly prices starting at $66 up to $260. All rental types require a prepayment of three months, according to the Valet website. Return deliveries of items cost $17 per trip.

"The self-storage industry has not really changed in decades, and it did not need to, either,” Tomas Louda, founder and CEO of Valet, said in a released statement. “However, with the on-demand industries gaining in popularity, we believe we stand in front of a great opportunity to make people's lives much less stressful with a much better experience than traditional self-storage operators. The feedback so far has been absolutely amazing."

Newchip helped startups raise more than $20 million in equity-free investments last year, the release stated. To date, it’s helped more than 1,000 new businesses connect with more than 100,000 investors, leading to more than $100 million in funding, according to its website. Investors can opt in with as little as $100 in seed money, while startups can raise up to $50 million.

"We are very excited to have Valet Storage join the Newchip family," said Ryan Rafols, founder and CEO of Newchip. "The team impressed us from the start. We are eager to see how they take Valet Storage to the next level. They have a unique perspective on their market, and what they've built so far shows great promise."

In addition to Austin, Valet offers storage pickup and delivery services to the communities of Cedar Park, Lakeway and Pflugerville, Texas. 

Sources:
Yahoo Finance, Valet Storage Accepted Into Newchip Accelerator to Improve the Self-Storage Industry
Valet Storage, Website
GlobeNewswire, Newchip Accelerator Launches Two New Startup Cohorts in June 2019
GlobeNewswire, Newchip Launches the First Equity-Free, Online Accelerator

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