Panhwar Jet

Panhwar Jet

Closed: Mar. 2024

About this raise

Panhwar Jet, with a valuation of $100 million, is raising funds on PicMii. The company is crafting the world’s first all-electric long-range luxury aircraft. Panhwar Jet’s aircraft’s propulsion system is driven by an innovative power generation system that eliminates the need for heavy batteries and will enable the aircraft to cover the longest distance ever covered by an electrical plane. Panhwar Jet aims to cater to multiple sectors, including medical supplies, cargo, and business. Ayisha Fareed founded Panhwar Jet in February 2021. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $4 million. The campaign proceeds will be used for salaries, real estate and assets, admin expenses, and marketing and advertising.

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Investment Overview

Not Funded: $53,500

Deal Terms

Total Commitments ($USD)

Platform
PicMii
Start Date
08/14/2023
Close Date
03/31/2024
Min. Goal
$10,000
Max Goal
$4,000,000
Min. Investment

$500

Security Type

Convertible Note

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$100,000,000

Discount

5%

Company & Team

Company

Year Founded
2021
Industry
Transportation, Automotive, Aviation, & Aerospace
Tech Sector
Hardwaretech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
High
Location
Kamas, Utah
Business Type
Growth
Company Website
Visit Website

Team

Employees
19
Prior Founder Exits?
No
Founder Name
Ayisha Fareed Panhwar
Title
CEO
Founder Name
Nick Panhwar
Title
Managing Director

Financials

as of Fiscal Year 2022
 Revenue
$0
 Monthly Burn
$48,389
 Runway
0.3 months

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-580,669

$-428,057

Summary Balance Sheet

FY 2022 FY 2021

Cash

$16,146

$53,676

Accounts Receivable

$0

$0

Total Assets

$54,552

$97,083

Short-Term Debt

$4,328

$0

Long-Term Debt

$0

$0

Total Liabilities

$4,328

$0

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$10,140,000
VC Backed?
Yes
Close Date Platform Valuation Total Raised Security Type Status Reg Type
03/31/2024 PicMii $100,000,000 $53,500 Convertible Note Not Funded RegCF
11/04/2022 Wefunder $62,600,000 $3,000 Convertible Note Not Funded RegCF
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Growth Charts

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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Panhwar Jet on PicMii 2023
Platform: PicMii
Security Type: Convertible Note
Valuation: $100,000,000

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