Solectrac

Deal To Watch
BETA

Climate-Smart Electric Tractors

Analytics

Raised to Date: $1,069,800

Aggregate Commitments $
Platform

StartEngine

Start Date

05/29/2020

Close Date

11/25/2020

Min. Goal

$10,000

Max. Goal

$1,070,000

Min. Investment

$250

Security Type

Equity - Common

Funding Type

RegCF

Series

Pre-Seed

Pre-Money Valuation

$7,750,000

Weekly Commitments $
Status

Active

Reporting Date

11/22/2020

Days Remaining

1

% of Min. Goal

10,698%

% of Max. Goal

100%

Likelihood of Max
Avg. Daily Raise

$6,044

# of Investors

1,426

Momentum
Location

Albion, CA

Industry

Farming & Agriculture

Tech Sector

AgriTech

Distribution Model

B2C

Margin

Low

Capital Intensity

High

Business Type

Growth

Solectrac, with a pre-money valuation of $7.75 million, is raising funds on StartEngine. The company designs and sells climate-smart electric tractors. The agriculture and utility electric tractors of Solectrac range from 25 to 70 HP and can either be charged with renewable energy or from a 220V outlet. The electric tractors are innovative and set to replace diesel tractors and reduce the carbon footprint. Solectrac was founded by Stephen Heckeroth in 2019. The proceeds of the current round of crowdfunding, with a minimum target of $10,000 and a maximum target of $1,070,000, will be used to the next generation tractors. Solectrac has a patented and disruptive solution and already has a key supply chain partnership with a leading tractor manufacturer in India.

Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$83,258

$71,910

COGS

$51,680

$96,622

Tax

$0

$0

 

 

Net Income

$-167,883

$-194,834

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$114,210

$3,247

Accounts Receivable

$0

$0

Total Assets

$186,873

$3,247

Short-Term Debt

$97,593

$60,000

Long-Term Debt

$166,586

$0

Total Liabilities

$264,179

$60,000

Ratings

last updated 11/24/2020

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Analyst Report

Deal To Watch
Ratings Platform - Beta Trial

Our new ratings and analytics platform is currently in Beta. To gain access to the Beta platform features, upgrade to a Pro paid account and accept the Beta terms on any page.

For a limited time, use coupon code "TRYMERLIN20" for a free 20 day trial of Kingscrowd Pro and Merlin Beta. Your paid subscription will activate at the end of 20 days. Cancel anytime.
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