Olympian Motors
Early Stage
New, disruptive electric vehicle company in NY
Overview
Raised: $165,269
Total Commitments ($USD)
Platform
Wefunder
Start Date
09/18/2023
Close Date
04/29/2024
Min. Goal
$50,000
Max. Goal
$1,235,000
Min. Investment
$250
Security Type
SAFE
SEC Filing Type
RegCF
Early Bird Val. Cap
$28,000,000
Valuation Cap
$30,000,000
Discount
0%
Rolling Commitments ($USD)
Status
Active
Reporting Date
09/29/2023
Days Remaining
212
% of Min. Goal
335%
% of Max. Goal
14%
Likelihood of Max
Avg. Daily Raise
$13,960
Momentum
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Year Founded
2021
Industry
Transportation, Automotive, Aviation, & Aerospace
Tech Sector
Hardwaretech
Location
New York, New York
Olympian Motors, with a valuation of $30 million, is raising funds on Wefunder. It is a new electric vehicle company based in New York. Olympian Motors is manufacturing electric vehicles for the light-passenger vehicle market in the US and is an emerging competitor to Rivian, Tesla, and Ford. The company has a production capacity of 320 EVs and has received 267 pre-orders for Model 01, creating a future revenue pipeline of $17 million. Eren Alan Canarslan founded Olympian Motors in October 2021. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1.24 million. The campaign proceeds will be used for manufacturing and assembly, product development, growth and marketing, software development, and general and administrative expenses.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-630,962 |
$0 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$447,231 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$1,371,745 |
$0 |
|
Short-Term Debt |
$32,710 |
$0 |
|
Long-Term Debt |
$1,969,838 |
$0 |
|
Total Liabilities |
$2,002,548 |
$0 |
Financials as of: 09/18/2023
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