Shark Wheel

[Closed for Investment] Shark Wheel, with a pre-money valuation of $34.9 million, is raising crowdfunding on WeFunder. The company has reinvented the wheel that has multiple advantages over the traditional wheel. The Shark Wheel has a longer life, a unique approach angle, less charging, and a better ability to move over rough terrain. Shark Wheel was founded by Gary Fleishman and has raised over $3.5 million in previous rounds of financing. The company has also received two government grants for the application of its technology to the farming wheel. The current crowdfunding round has a minimum target of $50,001 and a maximum target of $528,693, and the funds will be used for research and development, operations, marketing, and daily business operations. Shark Wheel has recently signed a deal for US military deployment bags and a licensing deal with one of the industry leaders.

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Investment Overview

Raised this Round: Raised: $529,210

Deal Terms

Total Commitments ($USD)

Platform
Wefunder
Start Date
11/02/2020
Close Date
01/27/2021
Min. Goal
$50,001
Max. Goal
$528,693
Min. Investment

$299

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$2.06

Pre-Money Valuation

$34,900,000

Company & Team

Company

Year Founded
2018
Industry
Consumer Products, Goods & Services
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
High
Location
Lake Forest, California
Business Type
Growth
Company Website
Visit Website

Team

Employees
4
Founder Name
Gary Fleishman
Title
President

Financials

 Revenue +24% YoY
$1,181,599
 Monthly Burn
$181,647
 Runway
1.6 months
Gross Margin
48%

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$1,181,599

$950,796

COGS

$615,210

$491,022

Tax

$0

$3,049

 

 

Net Income

$-2,179,764

$-759,938

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$281,662

$247,546

Accounts Receivable

$0

$3,672

Total Assets

$591,611

$464,471

Short-Term Debt

$525,804

$245,865

Long-Term Debt

$0

$0

Total Liabilities

$525,804

$245,865

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Ratings Kingscrowd Startup Rating Methodology Article

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
01/27/2023 StartEngine $42,867,875 $798,101 Equity - Common Funded RegCF
02/11/2022 Wefunder $40,407,538 $952,065 Equity - Common Funded RegCF
01/27/2021 Wefunder $34,900,000 $529,210 Equity - Common Funded RegCF
04/29/2020 Wefunder $30,000,000 $541,306 Equity - Common Funded RegCF
04/30/2019 StartEngine $25,500,000 $534,921 Equity - Common Funded RegCF
11/03/2017 StartEngine $15,000,024 $627,998 Equity - Common 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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Shark Wheel on Wefunder
Platform: Wefunder
Security Type: Equity - Common
Valuation: $34,900,000
Price per Share: $2.06

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