CLIP
About this raise
CLIP, with a valuation of $12 million, is raising funds on Wefunder. The company has developed the world’s first plug-and-play device to upgrade all bicycles to e-bikes. The bike-upgrade technology does not require any tools or modifications for installation and is solving a number of problems for urban commuters. CLIP can be used to upgrade both old and new bicycles and is highly affordable and convenient. The business was born out of MIT Media Lab and has already pre-sold over 1,000 units. Somnath Ray and Clement Alcala founded CLIP in June 2018. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $250,000. The campaign proceeds will be used for production, marketing, sourcing, and value engineering.
Investment Overview
Invested $157,798 :
Deal Terms
Company & Team
Company
- Year Founded
- 2018
- Industry
- Transportation, Automotive, Aviation, & Aerospace
- Tech Sector
- Distribution Model
- B2C
- Margin
- Medium
- Capital Intensity
- Low
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Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $2,500,000
- VC Backed?
- No
Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
---|---|---|---|---|---|---|
10/27/2023 | Wefunder | $12,000,000 | $157,798 | SAFE | Funded | RegCF |