Total amount raised
$134.7 Millions
Latest funding date
Location
Aptera has successfully raised funds through multiple rounds, including a recent Equity Crowdfunding round. The company is focused on developing highly efficient solar electric vehicles that aim to revolutionize sustainable transportation.
Keep reading to explore the intricacies of Aptera's fundraising journey and the investors backing this innovative platform.
What Is Aptera?
Aptera Motors, founded in 2006 by Chris Anthony and Steve Fambro, is an innovative company based in Carlsbad, California. Specializing in the automotive and electric vehicle industries, Aptera focuses on designing and developing aerodynamic electric vehicles.
With a team of 51-100 employees, Aptera is committed to revolutionizing transportation through the use of solar technology and advanced manufacturing techniques. Their mission is to create highly efficient vehicles that contribute to a sustainable future.
How Much Funding Has Aptera Raised?
- Round Name: Venture Round
- Amount Raised: $20M
- Date: April 9, 2007
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund the initial development and production of their aerodynamic electric vehicles.
- Round Name: Series C
- Amount Raised: $24M
- Date: July 25, 2008
- Lead Investors: Google
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up production and enhance technological capabilities.
- Round Name: Venture Round
- Amount Raised: $9.8M
- Date: April 15, 2010
- Lead Investors: NRG Energy
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their solar electric vehicle technology.
- Round Name: Debt Financing
- Amount Raised: $2.5M
- Date: July 13, 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To manage operational costs and continue product development.
- Round Name: Venture Round
- Amount Raised: Not publicly disclosed
- Date: October 4, 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To re-enter the market with new advancements in solar electric vehicle technology.
- Round Name: Equity Crowdfunding
- Amount Raised: $550K
- Date: March 31, 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To engage the community and fund early-stage production efforts.
- Round Name: Venture Round
- Amount Raised: Not publicly disclosed
- Date: December 10, 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the development of their solar electric vehicles.
- Round Name: Series A
- Amount Raised: $4M
- Date: February 19, 2021
- Lead Investors: Sandy Munro
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance production capabilities and bring their vehicles to market.
- Round Name: Equity Crowdfunding
- Amount Raised: $40M
- Date: June 6, 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund the production and scaling of their solar electric vehicles.
- Round Name: Equity Crowdfunding
- Amount Raised: $33.9M
- Date: February 2, 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund the initial phases of production for their solar electric vehicle.
Total Amount Raised: $134.75M. Current Valuation: Not publicly disclosed.
Key Investors
- Google
- Details: Google is a multinational technology company specializing in Internet-related services and products. Founded in 1998, it is one of the most influential tech companies globally.
- Investment Focus Areas: Technology, Artificial Intelligence, Cloud Computing
- Notable Investments: Waymo, SpaceX, Uber
- NRG Energy
- Details: NRG Energy is a large American energy company that produces and sells energy and energy services. It was founded in 1989 and is headquartered in Princeton, New Jersey.
- Investment Focus Areas: Renewable Energy, Energy Services, Electric Vehicles
- Notable Investments: EVgo, Solar Power Partners, Petra Nova
- Sandy Munro
- Details: Sandy Munro is an automotive engineer and CEO of Munro & Associates, a consulting firm specializing in lean design and manufacturing. He is known for his expertise in vehicle teardown and analysis.
- Investment Focus Areas: Automotive, Manufacturing, Electric Vehicles
- Notable Investments: Tesla, Rivian, Lucid Motors
- Ozzy Akay
- Details: Ozzy Akay is an investor with a focus on innovative technologies and sustainable solutions. He has been involved in various startups and tech companies.
- Investment Focus Areas: Technology, Sustainability, Startups
- Notable Investments: Not publicly disclosed
What's Next for Aptera?
Aptera's future looks promising as they embark on the initial phases of solar electric vehicle production, funded by a successful $33 million community-led program. This opportunity is significant, with over $100 million raised through equity crowdfunding in the past two years and 46,000 reservation holders eagerly awaiting their vehicles.
To capitalize on this momentum, Aptera plans to raise additional capital for high-volume production, leveraging continued equity crowdfunding and potential strategic partnerships. However, they face challenges such as securing the remaining funds needed for scalable production and competing with other electric vehicle startups and traditional automakers.
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