About this raise
Earth Rides, with a valuation of $50 million, is raising funds on Wefunder. The company offers a rideshare facility with a fleet of electric vehicles. It aims to provide access to clean technology to everyone and electric vehicle ownership regardless of socioeconomic status. Earth Rides has the first-mover advantage in the electric rideshare space and reported a 205% increase in revenue in the second quarter of 2021 compared to the previous quarter. Raven Hernandez and Peter Smith founded Earth Rides in 2019. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1,070,000. The campaign proceeds will be used for app improvements, marketing, vehicles, R&D, and general and administrative expenses.
Investment Overview
Invested : $781,499
Deal Terms
Total Commitments
- Platform
- Wefunder
- Start Date
- 01/07/2022
- Close Date
- 04/28/2022
$50,000
$1,070,000
$250
Convertible Note
Growth Stage
RegCF
$50,000,000
0%
Company & Team
Company
- Year Founded
- 2019
- Industry
- Transportation, Automotive, Aviation, & Aerospace
- Tech Sector
- Distribution Model
- B2B2C
- Margin
- Medium
- Capital Intensity
- Low
Financials
-
Revenue
- $88,705
- Monthly Burn
- Profitable
-
Cash on Hand
- $93,299
- Gross Margin
- 50%
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