Strom Motors

Compact Electric Vehicle for Cities

Company Information

Website:

https://www.strommotors.com

Sector:

Electric Vehicles

Location:

Santa Clara, CA

With more than 3.5 billion people living in urban areas around the world, cities have become extremely polluted. And passenger cars are the biggest source of this pollution.

As Elon Musk said, “In order to have clean air in cities, you have to go electric.” Strom Motors is subscribing to this theory with its compact, cost-effective electric vehicle.

The key to Strom’s electric vehicle is its reverse tricycle design. This means it has two wheels in front and one in back. This design provides similar stability to traditional vehicles, but reduces the weight by almost half. The result is a nearly 3x increase in energy efficiency.

Strom’s vehicles also feature a 48V battery pack. This battery can be swapped out in as little as five minutes, and it can also be used for other applications such as emergency use in homes.

In February 2021, Strom secured $10 million in pre-orders from customers in India. It aims to deliver its first units in 2022.

The company was named one of the Top-10 Startups to “Transform India” by the Indian Government Department of Science and Technology. And it was chosen as a “#HotStartup2020” by the Economic Times.

Team Background

Jean-Luc Abaziou - Co-Founder & Chief Strategy Officer
Pratik Gupta - Co-Founder & CEO
Raising
$1.07 million
Committed
$69K (6%)
Current Valuation
$10 million Cap / 10% Discount
Min. Investment
$150
Deal Type
Title III
(For all investors)
Offering Type
SAFE
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