Vroom Solar

Vroom Solar

About this raise

Vroom Solar, with a valuation of $9 million, is raising funds on StartEngine. The company makes do-it-yourself solar energy kits for portable applications. The off-grid DIY solar energy kits of Vroom Solar are expected to produce five to ten times the output of traditional battery-based portable energy systems and are more cost-effective and sustainable. Vroom Solar’s product is currently in development, with the proof of concept and prototype already established. Luke Phelps founded Vroom Solar in September 2017. The current crowdfunding campaign has a minimum target of $14,996.25 and a maximum target of $432,315. The campaign proceeds will be used to build additional prototypes and enhance the company’s staffing, aluminum extrusion engineering, and control center engineering.

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Investment Overview

Invested this round: $388,796

Deal Terms

Total Commitments ($USD)

Platform
StartEngine
Start Date
01/16/2023
Close Date
06/02/2023
Min. Goal
$14,996
Max Goal
$432,315
Min. Investment

$248

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$11.25

Pre-Money Valuation

$9,000,000

Company & Team

Company

Year Founded
2017
Industry
Energy, Power, & Natural Resources
Tech Sector
Cleantech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
High
Location
Springfield, Missouri
Business Type
Growth
Company Website
Visit Website

Team

Employees
4
Prior Founder Exits?
No
Founder Name
Luke Phelps
Title
CEO

Financials

as of Fiscal Year 2022
 Revenue
$0
 Monthly Burn
$13,505
 Runway
1.1 months

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-162,055

$0

Summary Balance Sheet

FY 2022 FY 2021

Cash

$14,279

$0

Accounts Receivable

$0

$0

Total Assets

$16,029

$0

Short-Term Debt

$0

$0

Long-Term Debt

$175,047

$0

Total Liabilities

$175,047

$0

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$159,121
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
09/18/2024 StartEngine $14,995,837 $68,832 Equity - Common Funded RegCF
06/02/2023 StartEngine $9,000,000 $388,796 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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Add to portfolio
Vroom Solar on StartEngine 2023
Platform: StartEngine
Security Type: Equity - Common
Valuation: $9,000,000
Price per Share: $11.25

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Follow Vroom Solar on StartEngine 2023

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Warning: according to the close date for this deal, Vroom Solar may no longer be accepting investments.

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