LIVAQ

The off-road vehicle (ORV) market is evolving as the demand for cleaner, quieter alternatives increases. Traditional all-terrain vehicles (ATVs), while effective, are increasingly seen as disruptive to both the environment and the outdoor experience. This shift has created an opportunity for electric alternatives that align with modern values.i LIVAQ, an electric ORV startup founded by David Medina in 2022 and based at Newlab in Detroit’s Michigan Central, aims to bring change to the ATV market. The company focuses on developing high-performance, eco-friendly ATVs that incorporate advanced Industry 4.0 technologies. The EQUAD, LIVAQ's flagship product, is being developed to provide a riding experience that allows users to connect more deeply with nature, without the noise and emissions associated with traditional combustion engines.Aiming to revolutionize the ORV market, LIVAQ has already developed three EQUAD prototypes and is preparing to test nine pilot units with Michigan’s Department of Natural Resources (DNR) and Innovate Marquette, with delivery scheduled for Q4 2024. On the international front, the city of Ciudad Juárez in Mexico has also expressed interest in acquiring 30 EQUAD units for public use, which are anticipated to be delivered in Q1 2025 pending budget approval. In addition, LIVAQ has a signed term sheet proposal and is negotiating a strategic partnership with electric vehicle (EV) manufacturer Veolectra to support production and provide exclusive access to key technologies. LIVAQ is raising up to $847,000 in this funding round, with $265,000 already closed, including a $120,000 investment from Techstars. Additionally, Veolectra has soft committed up to $75,000 as part of its term sheet and strategic partnership proposal.

Secured signed letters of intent (LOIs) with Michigan’s Department of Natural Resources (DNR) and Innovate Marquette to test nine pilot units, with delivery expected in Q4 2024, Received a signed letter of interest from Ciudad Juárez, Mexico, for the potential purchase of 30 EQUAD electric ATV units, valued at $750,000, with delivery anticipated in Q1 2025, Raising up to $847,000 in total funding for this round, with $265,000 already closed, including a $120,000 investment from Techstars, Received over $61,000 in non-dilutive funding through various grants from organizations like Start Garden, Centrepolis Accelerator, Builders and Backers, and TechTown, among others