NovoMoto
Early Stage
Life-changing & Affordable Solar - A first-mover in off-grid areas of D.R. Congo
Overview
Raised: $420,186
Total Commitments ($USD)
Platform
Wefunder
Start Date
01/05/2020
Close Date
07/30/2020
Min. Goal
$50,000
Max. Goal
$1,070,000
Min. Investment
$100
Security Type
Convertible Note
Series
Pre-Seed
SEC Filing Type
RegCF
Valuation Cap
$4,500,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
08/01/2020
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$2,040
# of Investors
354
Momentum
Funded
Create a free account today to gain access to KingsCrowd analytics.
Year Founded
2015
Industry
Energy, Power, & Natural Resources
Tech Sector
Cleantech
Distribution Model
B2C
Margin
Low
Capital Intensity
High
NovoMoto, with a valuation cap of $4.5 million, is raising funds on WeFunder. The company is a for-profit social enterprise providing affordable and clean electricity to off-grid communities in Africa. The electricity is provided through high-quality solar systems at a lower cost than other inferior solutions. NovoMoto was founded by Aaron Olson and Mehrdad Arjmand and has raised more than $450,000 since its founding. The proceeds of the current crowdfunding round, with a minimum goal of $50,000 and a maximum goal of $1,070,000, will be used for purchasing hardware and for operational costs like salaries and travel expenses of the team. NovoMoto has completed over 300 solar installations, with a 13% month-over-month growth since 2017.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$21,045 |
$10,904 |
|
COGS |
$27,822 |
$5,907 |
|
Tax |
$64 |
$6 |
| ||
| ||
|
Net Income |
$-30,629 |
$-7,145 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$67,953 |
$29,792 |
|
Accounts Receivable |
$26,441 |
$10,904 |
|
Total Assets |
$147,604 |
$65,037 |
|
Short-Term Debt |
$0 |
$0 |
|
Long-Term Debt |
$204,473 |
$64,000 |
|
Total Liabilities |
$204,473 |
$64,000 |
Financials as of: 01/05/2020
Create a free account today to gain access to KingsCrowd analytics.
Upgrade to gain access
Pay Monthly
Annually (Save 17%)
-
$25 /month
billed annually - Free portfolio tracking, data-driven ratings, AI analysis and reports
- Plan Includes:
- Everything in Free, plus
- Company specific
KingsCrowd ratings and analyst reports
- Deal explorer and side-by-side comparison
- Startup exit and failure tracking
- Startup market filters and historical industry data
- Advanced company search ( with ratings)
- Get Edge Annual
Edge
Already a member? Log in here.
Founders: enhance your startup's credibility on KingsCrowd. Create an account to claim this raise page.