-
Categories
-
Technology, Consumer Goods & Products, Travel, Retail
-
Min Investment
-
$100
-
Expected Close Date
-
April 30, 2025
-
Target Raise
-
$50.00K-$1.23M
-
No. Investors
-
30
-
Security Price
-
$3
- Number of Employees
- 30
- Cash
- $1,376,083
- Revenue
- $1,795,775
- Short Term Debt
- $3,406,527
- Cost of Goods
- $1,248,237
- Long Term Debt
- $272,946
- Net Income
- $-276,529
Key Deal Facts
29 vehicles delivered with a plan for 45-50 total in 2024, 125+ unit backlog with deposits
$1.8M 2023 rev, 5x growth to projected $9-10M 2024 rev, and plans to 3x rev in 2025 (not guaranteed)
Great unit economics, ASP $200K+, 30% margins (2-3x industry avg), capital efficient manufacturing
Amazing industry reception, 60+ earned media articles & 2M+ video views, glowing customer feedback
Seasoned leadership team with 95+ years of experience, multiple startups and exits, 30+ employees
Closed $1M+ SAFE funding round from seasoned industry investors in Q3 2022
Raised $3M in non-equity cash from customers in July 2023 via larger deposits to get early access
Built production line in 35k sf facility with $500k capex invested, plans to double sf in 2025
Management Team / Advisory Board Bios
Fast Growth
Revenue growing 2X/yr for at least prior 6 months, Profitable
Profitable for prior 3 months and expect same in future, $5M+ Revenue
Earned over the last 12 months, Jim Ritchie CEO & Co-founder25+ years leadership & tech experience in Silicon Valley
4 startups, 3 as CEO, multiple exits
BS Computer Science & Math, Lars Severin CTO30+ years tech experience in Silicon Valley
2 startups as CTO, Apple, Broadcom
MS Computer Science, Matt SewellSr. Dir. Manufacturing Operations20+ years manufacturing & design experience
2 startups
BS Mechanical Engineering, Jason Machutta Director of FinanceMBA, Technological Entrepreneurship
10+ years Senior Exec experience with 6 startups ranging from FinTech to Manufacturing to Healthcare
20+ years finance & accounting experience