CycleBoard
About this raise: CycleBoard, with a pre-money valuation of $12 million, is raising crowdfunding on StartEngine.The company designs and manufactures personal electric vehicles using its patented steering technology and three-wheel platform. The electric vehicles of CycleBoard are easy to ride, functional, and fun. Phillip LaBonty founded CycleBoard in 2015. The proceeds of the current crowdfunding campaign, with a minimum raise of $9,996.25 and a maximum raise of $1,069,991.33, will be used for growth and expansion. CycleBoard reported a 110% growth in sales from 2019 to 2020 and has generated $4.9 million in total sales. The patented lean-to-steer technology of CycleBoard comes with dual front wheels, a single rear wheel, and a stability bar.
Investment Overview
Invested : $399,802
Deal Terms
Total Commitments ($USD)
- Platform
- StartEngine
- Start Date
- 02/26/2021
- Close Date
- 11/22/2021
$9,996
$1,069,991
$291
Equity - Common
Series A
RegCF
$7.27
$12,000,000
Company & Team
Company
- Year Founded
- 2015
- Industry
- Transportation, Automotive, Aviation, & Aerospace
- Tech Sector
- Distribution Model
- B2C
- Margin
- Low
- Capital Intensity
- High
Financials
- Revenue +110% YoY
- $2,537,130
- Monthly Burn
- $6,998
-
Runway
- 24+ months
- Gross Margin
- 22%
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Company Funding & Growth
Funding history
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 11/22/2021 | StartEngine | $12,000,000 | $399,802 | Equity - Common | Funded | RegCF |