Popwheels

Popwheels

Closed: Sep. 2023

About this raise

Popwheels is raising funds on Rialto Markets. The company aims to build and maintain the first network of LEV battery swap stations in New York City. The subscribers of Popwheels will have access to thousands of swap lockers across the city where they can exchange their depleted batteries for fully-charged ones. The battery packs of Popwheels will use LiFePO4 cells instead of fire-prone NMCs and will be safe to charge indoors. Baruch Herzfeld founded Popwheels in July 2021. The current crowdfunding campaign has a minimum target of $9,500 and a maximum target of $4.9 million. The campaign proceeds will be used for batteries, cabinets, location monitoring and customer service, insurance, sales and marketing, logistics, R&D, accounting, office and storage, and miscellaneous expenses.

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Investment Overview

Funding data not publicly available

Deal Terms

Platform
Rialto Markets
Start Date
10/07/2022
Close Date
09/22/2023
Min. Goal
$9,500
Max Goal
$4,999,998
Min. Investment

$101

Security Type

Equity - Preferred

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.90

Pre-Money Valuation

$17,100,000

Company & Team

Company

Year Founded
2021
Industry
Energy, Power, & Natural Resources
Tech Sector
Cleantech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
Location
Brooklyn, New York
Business Type
Growth
Company Website
Visit Website

Team

Employees
1
Prior Founder Exits?
No
Founder Name
Baruch Herzfeld
Title
CEO

Funding data not publicly available

Financials

 Revenue
$0
 Monthly Burn
$10,074
 Runway
7.3 months

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-120,882

$0

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$73,070

$0

Accounts Receivable

$0

$0

Total Assets

$160,417

$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
$0
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
09/22/2023 Rialto Markets $17,100,000 - Equity - Preferred Not Funded RegCF
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Add to portfolio
Popwheels on Rialto Markets 2022
Platform: Rialto Markets
Security Type: Equity - Preferred
Valuation: $17,100,000
Price per Share: $1.90

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Follow Popwheels on Rialto Markets 2022

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Warning: according to the close date for this deal, Popwheels may no longer be accepting investments.

Popwheels Deal Report

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