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Security Type
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CAFES
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Categories
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Technology, Other, Retail, Transportation & Storage
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Min Investment
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$250
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Expected Close Date
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April 29, 2024
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Target Raise
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$50.00K-$1.24M
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No. Investors
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112
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Security Price
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$1
- 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
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$2,594,835
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Business Idea
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Business Traction
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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
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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.