Smart Tire Recycling

Smart Tire Recycling

Early Stage

Our company is turning a waste product into a lucrative commodity

Our company is turning a waste product into a lucrative commodity

Overview

Raised this Round: Raised: $509,562

Total Commitments ($USD)

Platform

Wefunder

Start Date

09/10/2020

Close Date

12/03/2020

Min. Goal
$50,000
Max. Goal
$1,070,000
Min. Investment

$100

Security Type

Equity - Preferred

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.87

Pre-Money Valuation

$2,500,000

Year Founded

2016

Industry

Energy, Power, & Natural Resources

Tech Sector

Cleantech

Distribution Model

B2B

Margin

Medium

Capital Intensity

High

Location

Pittsburgh, Pennsylvania

Business Type

Growth

Smart Tire Recycling, with a pre-money valuation of $2.5 million, is raising funds on Wefunder. The company has developed a pioneering process to recycle tires into reusable materials. The tires are turned into their original components and are used to manufacture new tires and other products. Smart Tire Recycling was founded by Mendel Bassman in 2016 and has raised more than $400,000 since its founding. The current crowdfunding round has a minimum target of $50,000 and a maximum target of $249,998. The funds from the raise will be used for lab testing, hiring a full-time engineer, marketing, and working capital. Smart Tire Recycling aims at reducing landfill tires and healing the environment by cutting carbon dioxide emissions.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-93,109

$-122,616

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$5,740

$13,536

Accounts Receivable

$0

$0

Total Assets

$34,594

$23,620

Short-Term Debt

$76,631

$23,498

Long-Term Debt

$0

$0

Total Liabilities

$76,631

$23,498

Financials as of: 09/10/2020
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Smart Tire Recycling 06/28/2022 StartEngine $14,767,677 $513,525 Equity - Preferred Funded RegCF
Smart Tire Recycling 12/02/2020 Wefunder $2,500,000 $509,562 Equity - Preferred Funded RegCF
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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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Smart Tire Recycling on Wefunder
Platform: Wefunder
Security Type: Equity - Preferred
Valuation: $2,500,000
Price per Share: $1.87

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