Lustro Comments

Discuss this Deal with other Investors

Join the Conversation

Olympian Motors (YC W22) ✅

New, disruptive electric vehicle company in NY. ​​​
An emerging competitor to Tesla, Rivian & Ford

Print
Claim My Business
Form C
View on Wefunder
Security Type
CAFES
Categories
Technology, Other, Retail, Transportation & Storage
Min Investment
$250
Location
New York, NY
Expected Close Date
April 29, 2024
Target Raise
$50.00K-$1.24M
No. Investors
1
Security Price
$1
Website
olympianmotors.com
Number of Employees
9
Cash
$447,231
Revenue
$0
Short Term Debt
$32,710
Cost of Goods
$0
Long Term Debt
$1,969,838
Net Income
$-630,962

Key Deal Facts

⚡️Olympian Motors is manufacturing electric vehicles for the U.S. light-passenger vehicle market. ✅ Current Investors: Y-Combinator, Climate Cap, Reunited, Soma Ven, CollabFund, Mobility Vision Fund ✚✚ 267 pre-order deposits for Model O1. $17M future revenue pipeline. Production Capacity:320 EVs ⚙️We engineered a new Modular Vehicle-Drivetrain, (MVDS). ▚ Reduced tooling/machinery costs by ~80%. 🦾High-caliber, technical founding team from Tesla, Ford, Qualcomm, Apple, Toyota and NIO. 🤝 Partnered with MIH Consortium, NXP, Qualcomm, AWS, Android, BYD, Stanford & Columbia University. ⚑ Test-drives started in our facility in Brooklyn, NY. Full commercial launch in Q3/2023 for NY, CA. ⏩Targeting 7% share in the U.S. passenger-vehicle market in 2030 ⊶ outcompeting Ford, Rivian, Lucid

Management Team / Advisory Board Bios

Eren Alan Canarslan Founder, CEO & Chief EngineerEx-VC and Electronics Engineer turned Entrepreneur. Previously at Qualcomm, focused on Snapdragon automotive, Digital Chassis, AR/XR & satellites. Eren started his career at Ford's R&D team. Holds MBA from Columbia & BSc Degree in Electronics Engineering., Adam Ruddle Head of Vehicle EngineeringAdam played critical engineering roles at Tesla, Canoo, Pininfarina. He led pivotal EV projects including NVH development for Tesla Model S, Tesla submarine car, Battista electric hypercar and electric Light Tactical Vehicle prototype to U.S. Army in 2022, Jasmine Sungu Head of Operations & StrategyPreviously a Business Development Lead at Cisco. Prior to that, Jasmine led two large-scale EV manufacturing/supply-chain projects at IBM and E&Y. She started her career at Merrill Lynch as a BD analyst. She holds a BA in Economics from NYU., Gigi Huang Head of DrivetrainExperienced powertrain and battery engineer. Previously worked at Nimbus EV, Xing Mobility and Rovilus Mobility. He has extensive experience in drivetrain and vehicle development programs. Holds a BSc Degree in Mechanical Engineer from Virginia Tech.

Amount Raised : $3,795,052
Reveal the Score by Voting
＿
Additional ratings from other users are needed to determine a viable CrowdScore for this deal.
The "CrowdScore" for this deal is determined by user ratings and other factors using our proprietary algorithm.
ⓘ
The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
ⓘ
The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
ⓘ
The experience of the management team in running, scaling and/or exiting a business that required similar skills to execute the business plan.
Management Team
ⓘ
The value of the company compared to similar companies raising money from investors.
Valuation

Security Description

A CAFES (Contract and Future Equity Stake) can convert into different types of equity upon a Triggering Event, such as: common or preferred stock for a corporation, limited partnership interest for a limited partnership and membership interest for a limited liability company. At the time of the Triggering Event, the specific rights and limitations associated with the equity stake being issued to the investors will be determined and disclosed by the Entrepreneur.

Research Reports

No reports have been submitted

Become a Reporter
Read Our Research Disclaimer

0 Comments

Post Comment