Veer

Veer

Early Stage

Bomb-proof carbon belt drivetrains

Bomb-proof carbon belt drivetrains

Overview

Raised to Date: Raised: $922,151

Total Commitments ($USD)

Platform

StartEngine

Start Date

03/28/2021

Close Date

04/19/2022

Min. Goal
$10,000
Max. Goal
$1,070,000
Min. Investment

$299

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$0.64

Pre-Money Valuation

$7,540,000

Rolling Commitments ($USD)

Status
Funded
Reporting Date

04/29/2022

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$2,389

# of Investors

923

Momentum
Funded
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Year Founded

2016

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

Hardwaretech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

Low

Location

Novato, California

Business Type

Growth

Company Website

Veer, with a pre-money valuation of $7.5 million, is raising crowdfunding on StartEngine. The company makes bomb-proof carbon belt drivetrains that replace the traditional chain drives for light electric vehicles. The carbon fiber belt, The Split Belt, boosts durability, range, performance, and affordability of bicycles. Sean Hacking founded Veer in July 2016. The current crowdfunding raise of the company has a minimum goal of $10,000 and a maximum goal of $1,070,000. The raise proceeds will be used to expand the operations in North America, Europe, Asia, and Australia. Veer is expanding into a large, growing market and reported sales of over $100,000 in 2020.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$107,664

$33,665

COGS

$54,045

$9,678

Tax

$0

$0

 

 

Net Income

$-130,884

$-136,613

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$64,234

$3,552

Accounts Receivable

$0

$0

Total Assets

$103,625

$40,056

Short-Term Debt

$20,173

$10,153

Long-Term Debt

$124,433

$0

Total Liabilities

$144,606

$10,153
Financials as of: 03/28/2021
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Veer 04/28/2024 StartEngine $15,042,560 $297,063 Equity - Common Active RegCF
Veer 04/18/2022 StartEngine $7,540,000 $922,151 Equity - Common 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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Veer on StartEngine
Platform: StartEngine
Security Type: Equity - Common
Valuation: $7,540,000
Price per Share: $0.64

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