Panhwar Jet

Panhwar Jet

Closed: Nov. 2022

About this raise

Panhwar Jet, with a valuation of $62.6 million, is raising funds on Wefunder. The company is developing the world’s first all-electric long-range jet to disrupt the aviation industry. The proprietary technology of Panhwar Jet requires only a small amount of battery pack to process air and generate power to fly the aircraft for many hours. The design and simulation of Panhwar Jet are completed, and fuselage production started in June 2022. Ayisha Fareed Panhwar, Nick Panhwar, and Syeda Zainab Hussain founded Panhwar Jet in February 2021. The current crowdfunding campaign has a minimum target of $200,000 and a maximum target of $3.5 million. The campaign proceeds will be used for salaries, marketing and advertising, real estate and assets, and admin expenses.

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Investment Overview

Not Funded: $3,000

Deal Terms

Total Commitments

Platform
Wefunder
Start Date
09/28/2022
Close Date
11/04/2022
Min. Goal
$200,000
Max Goal
$3,500,000
Min. Investment

$500

Security Type

Convertible Note

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$50,000,000

Valuation Cap

$62,600,000

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
5
Prior Founder Exits?
No
Founder Name
Syeda Hussain
Title
Chief Operating Officer
Founder Name
Ayisha Fareed Panhwar
Title
CEO
Founder Name
Nick Panhwar
Title
Managing Director

Financials

 Revenue
$0
 Monthly Burn
$35,671
 Runway
1.5 months

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-428,057

$0

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$53,676

$0

Accounts Receivable

$0

$0

Total Assets

$97,083

$0

Short-Term Debt

$0

$0

Long-Term Debt

$0

$0

Total Liabilities

$0

$0

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$10,000,000
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

Employee History

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Panhwar Jet on Wefunder 2022
Platform: Wefunder
Security Type: Convertible Note
Valuation: $62,600,000

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