NovoMoto
About this raise
NovoMoto, with a valuation cap of $4.5 million, is raising funds on WeFunder. The company is a for-profit social enterprise providing affordable and clean electricity to off-grid communities in Africa. The electricity is provided through high-quality solar systems at a lower cost than other inferior solutions. NovoMoto was founded by Aaron Olson and Mehrdad Arjmand and has raised more than $450,000 since its founding. The proceeds of the current crowdfunding round, with a minimum goal of $50,000 and a maximum goal of $1,070,000, will be used for purchasing hardware and for operational costs like salaries and travel expenses of the team. NovoMoto has completed over 300 solar installations, with a 13% month-over-month growth since 2017.
Investment Overview
Invested $420,186 :
Deal Terms
Company & Team
Company
- Year Founded
- 2015
- Industry
- Energy, Power, & Natural Resources
- Tech Sector
- Distribution Model
- B2C
- Margin
- Low
- Capital Intensity
- High
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Funding history
Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
---|---|---|---|---|---|---|
07/30/2020 | Wefunder | $4,500,000 | $420,186 | Convertible Note | Funded | RegCF |