The SMART Tire Company

The SMART Tire Company

Growth Stage

World's first high performance airless tire made from space-age materials @ NASA

World's first high performance airless tire made from space-age materials @ NASA

Overview

Raised to Date: Raised: $1,095,984

Total Commitments ($USD)

Platform

Wefunder

Start Date

02/16/2023

Close Date

04/28/2024

Min. Goal
$99,999
Max. Goal
$4,921,817
Min. Investment

$100

Security Type

Equity - Preferred

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$5.00

Early Bird Valuation

$50,098,227

Pre-Money Valuation

$54,454,595

Rolling Commitments ($USD)

Status

Active

Reporting Date

04/13/2024

Days Remaining

15

% of Min. Goal

1,096%

% of Max. Goal

22%

Likelihood of Max
unlikely
Avg. Daily Raise

$2,603

# of Investors

1,568

Momentum
cold.svg
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Year Founded

2021

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

Hardwaretech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

High

Location

Upland, California

Business Type

Growth

The SMART Tire Company, with a valuation of $54.5 million, is raising funds on Wefunder. The company is revolutionizing the tire industry with its airless tires made from space-age material and coated with a special rubber-like material. The space-age metals are called shape memory alloys and are based on technology invented by NASA for rover missions to Mars. The company has a customer waiting list of over 5,000 and has strategic partnerships and collaborations with Hyundai, Kia, The Ohio State University, the University of Akron, and Felt Bicycles. Earl Cole and Brian Yennie founded The SMART Tire Company in August 2020. The current crowdfunding campaign has a minimum target of $99,999 and a maximum target of $4.9 million. The campaign proceeds will be used for salaries and benefits, new equipment, research and development, cash reserve, sales and marketing, and general operating expenses.

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$100,895

$0

COGS

$10,243

$0

Tax

$-697

$-170

 

 

Net Income

$-788,442

$-436,449

Summary Balance Sheet

FY 2022 FY 2021

Cash

$49,209

$845,099

Accounts Receivable

$100,895

$0

Total Assets

$314,248

$969,754

Short-Term Debt

$79,001

$41,661

Long-Term Debt

$1,413,976

$1,365,976

Total Liabilities

$1,492,977

$1,407,637

Financials as of: 02/16/2023
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
The SMART Tire Company 04/28/2024 Wefunder $54,454,595 $1,095,984 Equity - Preferred Active RegCF
The SMART Tire Company 04/28/2022 StartEngine $50,042,425 $81,898 Equity - Preferred Funded RegCF
The SMART Tire Company 08/30/2021 Wefunder $50,000,000 $2,848,694 SAFE Funded RegCF
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Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Valuation History

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.

Employee History

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The SMART Tire Company on Wefunder 2023
Platform: Wefunder
Security Type: Equity - Preferred
Valuation: $54,454,595
Price per Share: $5.00

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