NovoMoto on Wefunder

Life-changing & Affordable Solar - A first-mover in off-grid areas of D.R. Congo

Raise to date: $367,876

Reporting Date: 07/12/2020

Key Stats

Minimum Raise

$50,000

Maximum Raise

$1,070,000

Likelihood of Max Unlikely
Start Date

01/06/2020

Stop Date

07/24/2020

Days Remaining

10

Security Type

Convertible Note

Investment Minimum

$100

Deal Type

No Review


Investment Summary

Status

Active

# of Investors

335

% of Minimum Raised

736%

% of Maximum Raised

34%

Dollars Per Day to Reach Max

$70,212

DPD* Committed

$1,957

DPD* Category

$0

DPD* All Companies

$2,250

Kingscrowd Momentum

$367,876

Total Dollars Raised

Commitments

Weekly Commitments ($)
Aggregate Commitments ($)

SEC Filing Data from Kingscrowd

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.

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