Veer

Bomb-proof carbon belt drivetrains

Analytics

Raised to Date: $239,490

Aggregate Commitments $
Platform

StartEngine

Start Date

03/29/2021

Close Date

09/21/2021

Min. Goal

$10,000

Max. Goal

$1,070,000

Min. Investment

$299

Security Type

Equity - Common

Funding Type

RegCF

Series

Seed

Pre-Money Valuation

$7,540,000

Rolling Commitments $
Status

Active

Reporting Date

04/21/2021

Days Remaining

152

% of Min. Goal

2,395%

% of Max. Goal

22%

Likelihood of Max
extremely
Avg. Daily Raise

$10,413

# of Investors

232

Momentum
warm
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Location

Novato, California

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

Hardwaretech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

Low

Business Type

Growth

Veer, with a pre-money valuation of $7.5 million, is raising crowdfunding on StartEngine. The company makes bomb-proof carbon belt drivetrains that replace the traditional chain drives for light electric vehicles. The carbon fiber belt, The Split Belt, boosts durability, range, performance, and affordability of bicycles. Sean Hacking founded Veer in July 2016. The current crowdfunding raise of the company has a minimum goal of $10,000 and a maximum goal of $1,070,000. The raise proceeds will be used to expand the operations in North America, Europe, Asia, and Australia. Veer is expanding into a large, growing market and reported sales of over $100,000 in 2020.
Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$107,664

$33,665

COGS

$54,045

$9,678

Tax

$0

$0

 

 

Net Income

$-130,884

$-136,613

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$64,234

$3,552

Accounts Receivable

$0

$0

Total Assets

$103,625

$40,056

Short-Term Debt

$20,173

$10,153

Long-Term Debt

$124,433

$0

Total Liabilities

$144,606

$10,153

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