Perrone Robotics

Perrone Robotics

Self-driving kits for vehicles used in local transit of people and things.

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Security Type
SAFE
Categories
Transportation & Storage
Min Investment
$100
Location
Crozet, VA
Offering Date
December 15, 2020
Expected Close Date
March 25, 2021
Target Raise
$250.00K-$1.07M
Deal Notes

Discount: 20%

A SAFE gives you the right to future shares in the company. If you invest, you're betting the company will be worth more than $50M in the future.

Valuation
$59,200,000

Company Description

We provide a retrofit kit to make vehicles drive themselves in bounded zones to transport people & things.

In five years, we want to be the go-to company for technology to enable autonomous shuttles and goods transit. We also want to achieve $1B+ in revenue by 2024. As we're in a highly coveted space with extraordinary revenue potential, M&A demand that will come our way should also bring significant ROI opportunities. These projections cannot be guaranteed.

Perks

Invest $1,000+ for Get a Company polo shirt and coffee mug.
$10,000+ Get a personalized Company branded TONY miniature model autonomous car for shelf/desk display.
$25,000+ Get an invite to visit the Company's HQ and test track in Crozet, Virginia, inclusive of a workshop tour and autonomous vehicle rides.
Invest $1,000+ for Get a Company polo shirt and coffee mug.
$10,000+ Get a personalized Company branded TONY miniature model autonomous car for shelf/desk display.
$25,000+ Get an invite to visit the Company's HQ and test track in Crozet, Virginia, inclusive of a workshop tour and autonomous vehicle rides.

Key Deal Facts

$17M+ sales history, $7T+ market
$2.8M sales in 2020 (51% increase)
1K+ units oppty w/current customers
30+ vehicles, 36K+ miles, 5 patents
CEO autonomy pioneer, DARPA Grand Challenge, SAE autonomy
Intel Capital Series A, $29M+ value (2016)

Use of Proceeds

$250,000

  • 60% towards execution and delivery of driverless vehicle projects (to develop scale from the deliveries and increase public relations efforts)
  • 13.5% towards sales & marketing (to promote and grow sales opportunities and close sales)
  • 10% towards operations (in support of above)
  • 10% towards capital fundraising (seeking a second round of financing)
  • 6.5% towards Wefunder fees.

$1,070,000

  • 60% towards execution and delivery of driverless vehicle projects (to develop scale from the deliveries and increase public relations efforts, and outfit a road show vehicle)
  • 21% towards sales & marketing (to promote and grow sales opportunities, close sales, and add a salesperson), 10% towards operations (in support of above)
  • 2.5% towards capital fundraising (seeking a second round of financing)
  • 6.5% towards Wefunder fees.

Management Team / Advisory Board Bios

Paul Perrone
Founder/CEO
17+ year autonomous vehicle industry pioneer (DARPA Challenges, patents, MAX software inventor, AV projects lead). 25+ years hi-tech experience. Breadth of skill in tech, financial, sales, & legal aspects of business.

Nolan Bushnell
Board Member
Technology pioneer, entrepreneur and engineer. Father of the video game industry (founded Atari Corporation and Chuck E. Cheese’s Pizza Time Theater). Founder of numerous companies over last 4 decades.

Deal Notes

Discount: 20%

A SAFE gives you the right to future shares in the company. If you invest, you're betting the company will be worth more than $50M in the future.

Amount Raised : $133,488
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Security Description

A SAFE is an agreement between you—the investor—and the company in which the company promises to give you a future equity stake based on the amount you invested. It also involves some kind of a triggering event that must take place in order for you to get your future equity stake. Be careful as you may only get equity if a particular event is triggered.

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