HEVO
Wireless EV charging: certified hardware + software commercially available today
Overview
Raised: $533,633
Total Commitments ($USD)
Platform
Wefunder
Start Date
09/23/2022
Close Date
04/30/2023
Min. Goal
$50,000
Max. Goal
$3,100,000
Min. Investment
$100
Security Type
SAFE
Series
Seed
Funding Type
RegCF
Valuation Cap
$50,000,000
Discount Rate
15%
Rolling Commitments ($USD)
Status
Active
Reporting Date
02/01/2023
Days Remaining
88
% of Min. Goal
1,067%
% of Max. Goal
17%
Likelihood of Max
Avg. Daily Raise
$4,074
# of Investors
639
Momentum
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Location
Brooklyn, New York
Industry
Energy, Power, & Natural Resources
Tech Sector
Cleantech
Distribution Model
B2B/B2C
Margin
High
Capital Intensity
High
HEVO, with a valuation of $50 million, is raising funds on Wefunder. The company has developed wireless EV charging technology to meet universal safety and performance standards. HEVO is building the global wireless charging standard for EVs to make EV charging simple and universal with its universally adaptable chargers integrated with the EV transportation app. HEVO has done successful pilots with major auto and energy companies and has a robust IP portfolio. Jeremy McCool founded HEVO in November 2011. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $3,100,000. The campaign proceeds will be used for production costs, operating expenses, salaries, and general capital expenditures.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$69,827 |
$0 |
|
COGS |
$114,284 |
$0 |
|
Tax |
$1,934 |
$1,905 |
| ||
| ||
|
Net Income |
$-3,062,223 |
$-2,347,681 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$194,323 |
$2,863 |
|
Accounts Receivable |
$30,701 |
$0 |
|
Total Assets |
$1,275,550 |
$351,446 |
|
Short-Term Debt |
$936,710 |
$1,082,231 |
|
Long-Term Debt |
$1,321,896 |
$0 |
|
Total Liabilities |
$2,258,606 |
$1,082,231 |
Financials as of: 09/23/2022
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