Nightride Thermal

Driven to Keep You Safe

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Security Type
Common Stock
Min Investment
Offering Date
June 12, 2023
Expected Close Date
October 11, 2023
Target Raise
No. Investors
Security Price
Number of Employees
Short Term Debt
Cost of Goods
Long Term Debt
Net Income

Company Description

NightRide Thermal is a technology company specializing in self-installable, vehicle-mounted thermal cameras, keeping drivers safe at night and in harsh weather conditions. NightRide cameras offer high-resolution thermal imaging for professional, commercial, and consumer use and have doubled in revenue from 2021 to 2022, with 807 deployed in 2021 and 2022.

The idea is very unique. It will allow individuals to soon be able to use the thermal camera screening tech in their daily lives to avoid accidents. Nightride currently serves B2B and B2G markets for public safety and emergency management; local, state, tribal, and federal government agencies; private security, construction, and utilities; wildlife control and outdoor enthusiasts; and the military, defense, and intelligence communities. 

The thermal imaging market is currently estimated at $3.6B and is projected to hit $7.49B by 2030, growing at a CAGR of 10.10%. The market is fragmented, with FLIR and NOPTIC being the noticeable players. The company differentiates its products by the ease of installation, performance quality, excellence in customer support, and affordability within the target markets.

The company presently manufactures and sells 12 models of vehicle-mounted thermal cameras for primarily professional and commercial use and has a network of more than 100 dealers. In 2022, 78% of revenue was generated in the hunting/outdoors sector with 22% coming from sales to the public safety sector. 92% of revenue came through a network of 106 independent retailers throughout the US, Canada, Australia, South Africa, and several European countries with 8% coming from D2C sales via the Company’s website. It holds 1 patent, 2 patents pending, and several trademarks, copyrights, Internet domain names, and trade secrets. The products are priced between $1895- $6500. There is a minimum 36-month limited warranty on all its products.

Revenue was $1.30M in fiscal year 2022. Gross margins are stable at 50%. The aim is to continue the trend of at least doubling the revenue YoY and generating a profit in 2023. New dealers are being added at a pace of 5 - 7 per month, the majority of which are in the United States. The Company has succeeded in having its products listed on the GSA schedule (long-term governmentwide contracts with commercial companies that provide access to millions of commercial products and services at fair and reasonable prices to the government). The Company has over $2M in outstanding bids to public safety agencies, with the potential for larger orders per customer.

Use of Proceeds

The company plans to use the proceeds for R&D, inventory, staffing, working capital and platform fee.

Management Team / Advisory Board Bios

Mary Ellen Kramer, Founder, CEO & Board Member
Mary Ellen Kramer, President of NightRide Thermal, brings 35 years of senior management experience in the high-tech, finance, and telecommunication sectors. With over $40M raised in financing for previous ventures, she focuses on fundraising, investor relations, and market partnerships. She co-founded Maritime Broadband and ran four telecommunications companies. Mary Ellen holds a Bachelor of Science in Management and Computer Science and a certificate in Women's Entrepreneurship from Cornell University. She has extensive experience as a founder and is currently working full-time with the company. 

Zev Kramer, Founder, Director of Engineering & Board Member
Zevi Kramer, founder and Director of Engineering at NightRide Thermal, has 36 years of experience in telecommunications and electronics engineering. He leads the development of innovative products and led the C-Bird antenna for Maritime Broadband. Zevi has designed communication and navigation systems for the Israeli Air Force and directed the automatic gear project for the Merkava tank. This is his first startup. He also works full-time at Nightride. 

Shawn Groce, Founder, CTO & Board Member
Shawn Groce has 14 years of diverse engineering experience, including LED truck lighting, maritime stabilization, tracking antennae, telecom solutions, and NightRide cameras. He leads in-house and outsourced engineering efforts, balancing ease of use, performance, and appearance while maintaining the "cool factor." Shawn completed his studies at City College of New York. This is his first startup. He also works full-time at nightride. 

The management team is very strong both technically and in terms of experience in building and scaling businesses. 

Valuation Notes

The company has valued itself at $25M pre-money. It has contemplated additional future sources of capital including SBIR grants of up to $1M. The company seems a little overvalued with product launches yet to happen in the consumer segment.

Amount Raised : $314,689
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Security Description

Common stock is a security that represents ownership in a corporation.

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