Driven

Driven

Early Stage

A technological leap for e-bikes

A technological leap for e-bikes

Overview

Raised to Date: Raised: $128,750

Total Commitments ($USD)

Platform

Wefunder

Start Date

08/09/2023

Close Date

04/29/2024

Min. Goal
$50,000
Max. Goal
$618,000
Min. Investment

$100

Security Type

Convertible Note

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$12,000,000

Valuation Cap

$15,000,000

Discount

25%

Rolling Commitments ($USD)

Status

Active

Reporting Date

09/26/2023

Days Remaining

216

% of Min. Goal

258%

% of Max. Goal

21%

Likelihood of Max
likely
Avg. Daily Raise

$2,682

Momentum
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Year Founded

2020

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

AutomationTech

Distribution Model

B2B

Margin

Medium

Capital Intensity

High

Location

Boulder, Colorado

Business Type

Growth

Driven, with a valuation of $15 million, is raising funds on Wefunder. The company has developed its patented e-bike drive system that is more efficient and environment-friendly than traditional systems. Driven’s bolt-on driving system is an all-in-one package with pedal power, all gearing, and electric assist and requires low maintenance. The system also has a 10-19% extended battery range and regenerative braking. Brian Baker founded Driven in November 2020. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $618,000. The campaign proceeds will be used for operational headcount, sales and marketing, R&D, and cost of goods sold.

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-933,020

$-365,344

Summary Balance Sheet

FY 2022 FY 2021

Cash

$156,674

$555,647

Accounts Receivable

$0

$0

Total Assets

$842,453

$1,083,764

Short-Term Debt

$932,207

$5,667

Long-Term Debt

$722,387

$956,342

Total Liabilities

$1,654,594

$962,009

Financials as of: 08/09/2023
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Driven 04/29/2024 Wefunder $15,000,000 $128,750 Convertible Note Active RegCF
Driven Technologies 05/30/2021 SeedInvest $3,300,000 $918,357 Convertible Note Funded RegCF / RegD 506(c)
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Driven on Wefunder 2023
Platform: Wefunder
Security Type: Convertible Note
Valuation: $15,000,000

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