About this raise

Shark Wheel, with a pre-money valuation of $40.4 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 better ability to move over rough terrain. Shark Wheel was founded by Gary Fleishmanin December 2018. The company has also received three government grants for the application of its technology to the farming wheel. The current crowdfunding round has a minimum target of $50,000 and a maximum target of $4,471,308, and the funds will be used towards research and development, operations, inventory, marketing, and placing large purchase orders. The wheels of the Shark Wheel have various applications, including luggage, farming wheel, printing industry, medical applications, office chairs, casters, skateboards, and many more.

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Investment Overview

Invested this round: $952,065

Deal Terms

Total Commitments ($USD)

Platform
Wefunder
Start Date
07/20/2021
Close Date
02/11/2022
Min. Goal
$50,000
Max Goal
$4,471,308
Min. Investment

$399

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$2.29

Early Bird Valuation

$35,290,426

Pre-Money Valuation

$40,407,538

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
7
Prior Founder Exits?
No
Founder Name
Gary Fleishman
Title
President

Financials

 Revenue +121% YoY
$2,613,442
 Monthly Burn
$48,722
 Runway
8.2 months
Gross Margin
43%

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$2,613,442

$1,181,599

COGS

$1,497,454

$615,201

Tax

$0

$0

 

 

Net Income

$-584,659

$-2,179,764

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$399,968

$281,662

Accounts Receivable

$0

$0

Total Assets

$986,296

$591,611

Short-Term Debt

$347,963

$525,804

Long-Term Debt

$0

$0

Total Liabilities

$347,963

$525,804

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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 2021
Platform: Wefunder
Security Type: Equity - Common
Valuation: $40,407,538
Price per Share: $2.29

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