VEER

VEER

Veer designs carbon fiber drivetrains to replace dated chain drives for light electric vehicles - with the goal to provide a better drive solution as urban transportation evolves to go more electric. Their 2020 sales surpassed $100,000 in the growing eBike and eScooter markets ($23 billion and $18.6 billion, respectively).

Min investment
$299
Amount raised
$197,921
Goal
$10K-$1M
Days Left
157
Location
Novato, CA

CrowdLustro Research Report

Security Type
Non-Voting Equity
Non-voting stock is stock that provides the shareholder very little or no vote on corporate matters.
Industry
General
Filed
March 29, 2021
Expires
September 21, 2021
Valuation
$7.5M
Deal Structure

Price Per Share: $0.64

Use of Proceeds

The Company will not incur any irregular use of proceeds.

Management

Sean Hacking, CEO/Founder
Sean founded Veer to make bikes work better and sustainable transportation more accessible. With a degree in Biomolecular Engineering and Bioinformatics, experience in automation and robotics in the biotech industry, and a lifelong passion for cycling, Sean is most comfortable building the things nobody else is building.


Theron Hawley, Lead Product Designer
Theron has a passion for integrating engineering and design to create beautiful, functional, customer-centered objects. With a masters from from Istituto Europeo di Design in Madrid and a background in mechanical engineering and manufacturing, he's experienced at bringing consumer products to market. 


Kelly Burr, COO
Kelly has over 35+ years of international business experience. Having worked in bike shops in his teen years, as a VP of Operations and Product for a major bicycle manufacturer, and in running his own company, Kelly is an expert in international business, sourcing, production, negotiation, distribution, sales, and business acumen.


Daniel Hacking, Director/Engineering Consultant
Daniel is an energy engineer, mountain bike racer, and expert bike mechanic. He brings this multifaceted knowlege to full force making sure Veer products are fully and brutally tested--in the lab and on the trail. He breaks things so customers don't have to.


Katrina Mounivong, Business Manager
Katrina holds a degree in Biochemistry and Managerial Economics from UC Davis, and has many years of experience in restaurant management. She makes sure everything stays organized and running and every customer is delighted.

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Key Deal Facts

Large, growing market: Veer is expanding into the Light Electric Vehicle Market with the electric bike market valued at $23 billion in 2020 alone.
Impressive sales: Veer Cycle saw more than $100,000 in sales in 2020.
Valuable mission: The Split Belt is designed to enhance light electric vehicle usage for local transportation, contributing to cities’ efforts to go green and combat climate change.

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