Lit Motors
About this raise
Lit Motors, with a valuation of $90 million, is raising funds on Wefunder. The company has developed a revolutionary self-balancing two-wheeled electric car. Lit Motors’ electric car works on a breakthrough EV technology that enables high margins and is a flexible and functional option for urban and suburban families. The company has 1,300 preorders, resulting in a projected revenue of $41.6 million. Daniel K. Kim founded Lit Motors in 2010. The current crowdfunding campaign has a minimum target of $300,000 and a maximum target of $5 million. The campaign proceeds will be used for the development of small-scale CMGs, the working embedded system, and control model validation, basic company operations, marketing, beta chassis development, validation of stability balance, and team growth.
Investment Overview
Invested : $1,470,338
Deal Terms
Total Commitments
- Platform
- Wefunder
- Start Date
- 03/04/2024
- Close Date
- 04/26/2025
$300,000
$5,000,000
$100
SAFE
Growth Stage
RegCF
$81,000,000
$90,000,000
0%
Company & Team
Company
- Year Founded
- 2010
- Industry
- Transportation, Automotive, Aviation, & Aerospace
- Tech Sector
- Location
- San Francisco, California
- Company Website
-
Visit Website
Team
- Employees
- 4
Financials
-
Revenue
-
$0
as of FY2023
- Monthly Burn
-
$145,667
as of FY2023
-
Runway
-
0 months
as of FY2023
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Company Funding & Growth
Funding history
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 04/26/2025 | Wefunder | $90,000,000 | $1,470,338 | SAFE | Funded | RegCF |