Swyft Cities

Swyft Cities

Early Stage

Transforming cities through better transportation

Transforming cities through better transportation

Overview

Raised this Round: Raised: $95,740

Total Commitments ($USD)

Platform

Wefunder

Start Date

08/22/2024

Close Date

12/22/2024

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

$2,000

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$9,000,000

Valuation Cap

$12,000,000

Discount

0%

Year Founded

2021

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

Hardwaretech

Distribution Model

B2B

Margin

Medium

Capital Intensity

High

Location

Mountain View, California

Business Type

High Growth

Swyft Cities, with a valuation of $12 million, is raising funds on Wefunder. The company is transforming cities with its lower-cost modular transportation. Swyft Cities has proprietary autonomy and has developed two prototypes successfully, demonstrating the technology, lower costs, and fast build times. The company’s first pilot project is underway in New Zealand and has a customer pipeline of over $150 million. Jeral Poskey, Clay Griggs, and Catrine Machi founded Swyft Cities in July 2021. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1 million. The campaign proceeds will be used for sales and marketing, technical development, hardware licensing fees, and general overhead expenses.

Summary Profit and Loss Statement

FY 2024 FY 2023

Revenue

$25,940

$225,000

COGS

$0

$189,000

Tax

$0

$0

 

 

Net Income

$-581,859

$-528,928

Summary Balance Sheet

FY 2024 FY 2023

Cash

$22,049

$6,568

Accounts Receivable

$7,540

$0

Total Assets

$237,176

$8,895

Short-Term Debt

$175,111

$86,256

Long-Term Debt

$0

$0

Total Liabilities

$175,111

$86,256

Financials as of: 08/22/2024
Create a free account today to gain access to Kingscrowd analytics.

Raise History

Offering Name Close Date Platform Valuation Total Raised Security Type Status Reg Type
Swyft Cities 12/22/2024 Wefunder $12,000,000 $95,740 SAFE Active RegCF

No prior online funding rounds.

Create a free account today to gain access to Kingscrowd analytics.

Upgrade to gain access

Pay Monthly
Annually (2 months free)

Edge

$12.50 /month
billed annually
Free portfolio tracking, data-driven ratings, AI analysis and reports
Plan Includes:
Everything in Free, plus
Company specific Kingscrowd ratings and analyst reports
Deal explorer and side-by-side comparison
Startup exit and failure tracking
Startup market filters and historical industry data
Advanced company search ( with ratings)
Get Edge Annual
Already a member? Log in here.
Founders: enhance your startup's credibility on Kingscrowd. Create an account to claim this raise page.
Add to portfolio
Swyft Cities on Wefunder 2024
Platform: Wefunder
Security Type: SAFE
Valuation: $12,000,000

Follow company

Follow Swyft Cities on Wefunder 2024

Buy Swyft Cities's Deal Report

Swyft Cities Deal Report

Get Kingscrowd's comprehensive report on Swyft Cities including:

  • How our proprietary algorithm rates their current capital raise (1-5 stars)
  • Detailed price, market, team, differentiators, performance, and risk ratings
  • Whether Swyft Cities is undervalued or overvalued
  • Scores on the founding team and key personnel's background and expertise

Buy the Swyft Cities deal report for only $10!

Email address:
Looking to buy more than one deal report? Get unlimited reports by upgrading to Edge