Funding Details
- Awarder
- StartEngine
- Date Award
- June 13, 2024
- Vertical
- Transportation
- Funding URL
- View Funding Page
- Premoney Valuation
-
$1,000,000
- Valuation
-
$7,540,000
Company Info
- Founding Year
- 2019
- Traction
- Since their inception in 2019, Veer has experienced significant growth, shipping over 1,000 drive units to date and achieving $141K+ in gross sales for 2019/2020, with $100K+ in 2020 alone. They have a returning customer rate of 30% and have established partnerships with national and international production partners, distributors, and retail dealers.
- Revenue Amount
-
$141,000,000
- Organizations Involved
- None
- Founders
- Sean Hacking, Theron Hawley, Kelly Burr
- Company Description
- Veer designs carbon fiber drivetrains to replace dated chain drives for light electric vehicles - with the goal to provide a better drive solution as urban transportation evolves to go more electric. Their 2020 sales surpassed $100,000 in the growing eBike and eScooter markets ($23 billion and $18.6 billion, respectively).
- Market
- Light Electric Vehicles
- Location
-
Novato,
CA,
US
- Coinvestors
- None
Links