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Strom Motors isn't accepting new investments

Strom Motors’ deadline was July 1, 2021

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Logo of Strom Motors

Strom Motors

The intelligent, smart cute little electric car
B2C Automotive Electric Vehicles
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Featured image of Strom Motors
$310,137
Raised
499
Investors
Successfully funded and closed on July 1, 2021.
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Closed on July 1, 2021. Information may not be up-to-date. Campaign closed on July 1, 2021. Information displayed may not be up-to-date.
Problem Solution Product Traction Customers Biz. model Market Competition Vision and strategy Funding Founders
About Team Press

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Strom Motors Inc. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Strom Motors Crowd SAFE Strom Motors Form C:A.pdf
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Hear from some of the 499 investors in Strom Motors


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Highlights


  • Compact lightweight 2-door 2-seater reverse trike with swappable battery
  • $10M+ pre-booking requests received for Indian market (in 2021)
  • Regulatory approval received for India and applicable to European Union
  • Manufacturing and supply chain ready to build and deliver cars
  • Affiliate awarded by Gov. of India; #HotStartups2020 by Economic Times
  • Perfect for shared mobility, personal ownership, and cargo delivery markets
  • Innovative and green mobility solution for congested cities globally

Problem


Passenger cars are the biggest pollutants in cities

As a result of rapid urbanization, over 3.5 billion people live in the world’s cities today. Nearly 2,000 cities are home to more than 2 million residents each. A lack of easy and efficient public transportation solutions, especially for last mile connectivity, has driven unprecedented growth in vehicles over the last two decades, causing worsening air quality and related health issues. According to the EPA, motor vehicles collectively cause 75% of carbon monoxide pollution in the U.S. It's estimated 54,000 of the premature deaths in New Delhi last year were pollution-related.

Solution


Strom-R3: a compact, cost-effective EV designed for cities and the developing world

Priced at under $10,000, Strom-R3's compact size is perfect for personal and shared mobility needs. The reverse trike design provides similar stability as a hatchback and reduces vehicle weight by almost half, resulting in almost a 3x increase in energy efficiency. Weight is a major reason behind the high prices of other electric cars, as even compact hatchbacks weigh well over 3,000 lbs. and require massive batteries.

Large fleets of electric cars face one daily hurdle - charging EVs at peak business hours is expensive (as it requires space) and results in asset downtime. Strom-R3 is one of the few electric vehicles offering a battery-swap option for fleet operators. Cars can be back on the road within 5 minutes, thanks to self-operated battery-swap stations placed strategically across the city. This can result in 40% additional uptime and reduce costs by another 20%.

Product


Smart urban mobility solution with future-ready technology

With its unique reverse trike design, Strom-R3 provides the right balance between comfort and easy mobility in city traffic. The Strom-R3 offers an air-conditioned cabin, front and rear storage areas, and accurate range estimation AI engine. The large luxurious sunroof makes the driving experience open and enjoyable. 


Strom-R3’s reverse trike design is as stable as a hatchback with particular attention to weight distribution. With major weight between the front two tires, the vehicle has a low centre of gravity along with front and rear anti-roll bars, providing additional stability in situations involving sudden directional changes. Chassis and body structure have been designed using high tensile steel, creating an extremely safe cabin designed to exceed most international standards.

We also use a more widely-adopted industry standard 48V battery pack, which means they require almost no re-work before they can be re-deployed in other applications like Powerwall or emergency backup applications in homes or industry. Additionally, Strom-R3 batteries past their expected 100,000 miles replacement will have an extended 5-10 year of additional life before they have to be recycled.

Traction


Secured $10M in pre-order interest just 20 days after launch

Since starting our pre-booking program for the Indian market in February 2021, we've received hundreds of requests from all over India. Customers from Mumbai and New Delhi will be the first to start getting deliveries with expansion planned for other major cities in 2022. Strom has also been awarded as one of Top 10 Start-up’s to “Transform India” by the Indian Government Department of Science and Technology, and chosen as a #HotStartup2020 by Economic Times.


Customers


Live in your own world, where the air is much cleaner, the roads are a lot quieter, and the gadgets are way cooler

Strom Motors was founded in the belief that clean, efficient vehicles will dramatically improve the quality of life for people living in cities. With air pollution an increasing concern, our products offer a direct solution to environmental degradation. Not only that, but our vehicles are more efficient and save our customers more money in the long run. As such, our target demographic is the 253M+ people in India who drive every day. 

Business model


Three distinct business channels gives us omni-directional advantages

Strom offers one of the most efficient drive platforms with all necessary comfort and safety, a complete modern mobility solution. We plan to target key market segments in India, US, and European geographical region with expected product pricing around $9,000 and a gross margin of 40%. We aim to sell through three major channels:

Market


Potential to disrupt $140B shared mobility market

Strom-R3's platform offers best-in-class fuel efficiency with cost per mile 2.5x lower compared to a Tesla Model 3, and 7.5x lower than a Toyota Corolla. Strom-R3 also takes up almost half the space of a typical car, thus providing unmatched space efficiency and enabling a fleet to reduce its real estate footprint by 2x.

Strom is one of the only platforms to use swappable batteries, resulting in 5 minute self battery swapping for 24x7 fleet operations. The onboard electronics are designed in-house to track all moving parts on the vehicle, which helps predict failure and avoid breakdowns. Strom-R3 is a perfect solution for shared mobility fleet operators around the world.

Competition


Making sustainability affordable for everyone

Vision and strategy


Perfect platform for fast growing delivery business

Globally, the logistics and last mile delivery markets have grown significantly with sudden acceleration in 2020 due to lockdowns and safety concerns. Compact electric vehicles are increasingly sought after by all logistic providers. Strom-Cargo offers an unmatched ease of access in low footprint design with one of the lowest cost per mile offering perfect for both the North American and European markets. We plan to showcase this variant towards the end of 2021 at major auto shows and start partner test programs in the middle of 2022.

Funding


Strong R&D background

The founders in the recent past have successfully bootstrapped a R&D technology firm with a successful exit. Since 2011, the core team has worked with solar power companies for solutions unique to Indian markets. Strom-R3 project started in 2016 as an internal R&D project with a vision to accelerate EV adoption. We received seed funding from IAN in 2018, with lead investors including the ex-country head of Nissan and VW India. The funds helped us set up our supply chain and manufacturing, and secure the necessary government clearances in India. 

This new round of investment will go towards international market expansion, showcasing vehicles at Auto Shows around the world, and loaning vehicles to fleets and industry experts before our launch campaign.

Founders


Team of seasoned experts



Deal terms


Valuation cap

$10,000,000

The maximum valuation at which your investment converts into equity shares or cash.
Learn more

Discount

10%

If a trigger event for Strom Motors occurs, the discount provision gives investors equity shares (or equal value in cash) at a reduced price.
Learn more.

Minimum investment

$150

The smallest investment amount that Strom Motors is accepting.
Learn more

Funding goal

$1.07M

Strom Motors must achieve its minimum goal of $25K before the deadline. The maximum amount the offering can raise is $1.07M.
Learn more

Deadline
Strom Motors needs to reach their minimum funding goal before the deadline ( ). If they don’t, all investments will be refunded.
Learn more
Type of security

Crowd SAFE

A SAFE allows an investor to make a cash investment in a company, with rights to receive certain company stock at a later date, in connection with a specific event. · Learn more

How it works

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Strom Motors Inc. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Strom Motors Crowd SAFE Strom Motors Form C:A.pdf

Bonus perks

In addition to your Crowd SAFE, you'll receive perks for investing in Strom Motors.
Invest
$500
Receive
  • Thank you note from the founder
  • Strom Motors T-shirt
Invest
$1,000
Receive
  • Thank you note from the founder
  • Strom Motors T-shirt & Cap
Invest
$10,000
Receive
  • Thank you note from the founder
  • Strom Motors Embroidered Jacket & Cap
Invest
$25,000
Receive
  • Thank you note from the founder
  • All lower tier perks
  • Quarterly investor email update
Invest
$50,000
Receive
  • All lower tier perks
  • Strom-R3 model car (1:16)
  • 30 min video call with the founders
Invest
$100,000
Receive
  • All lower tier perks
  • Backstage entry to all events

Why others invested

See all reviews (0) See all (0)

Strom Motors has developed a product that exceeds competitors and is a viable solution to pollution control and mobility within densely populated cities.

Profile picture of Shayne Baxter
Shayne Baxter
Active investor
about 4 years ago

The EV boom is just beginning. Most of the EVs on the market today are expensive and don't cater to lower income individuals. Strom's product and the strong R&D team behind it appears well positioned to gain a nice chunk of marketshare in this emerging space faster than some of the entrenched automakers that exist today and who are dragging their feet in the switch to EV.

Profile picture of Alexander Duplessie
Alexander Duplessie
Active investor
about 4 years ago

I believe self-driving is a future we're heading towards but I think this is a healthy middle-step towards solving street congestion, transportation for all, with some environmental wins as well.

Profile picture of KATHERINE GRIGGS
KATHERINE GRIGGS
Active investor
about 4 years ago

About Strom Motors

Legal Name
Strom Motors Inc
Founded
Dec 2020
Form
Delaware Corporation
Employees
0
Website
strommotors.com
Social Media
Headquarters
Google Map location of of Strom Motors
4534 LAIRD CIR , Santa Clara, CA
Headquarters
4534 LAIRD CIR, Santa Clara, CA, United States 95054

Strom Motors Team
Everyone helping build Strom Motors, not limited to employees

Profile picture of Pratik Gupta
Pratik Gupta
co-Founder, CEO
Profile picture of JeanLuc Abaziou
JeanLuc Abaziou
co-Founder, CSO
Profile picture of Neeraj Garg
Neeraj Garg
Advisory Board
Pratik Gupta
co-Founder, CEO
JeanLuc Abaziou
co-Founder, CSO
Neeraj Garg
Advisory Board

Press

Why should all electric vehicles look like bulky sedans? ...
NextBigWhat NextBigWhat
·
Oct 14, 2019

Why Read This? Learn about an upstart firm aiming to compete in the Indian four-wheeler EV space. Take a look at India's ...

How this R&D specialist is hoping to take India by Strom ...
YourStory.com YourStory.com
·
Mar 4, 2019

If a green world is your destination, how can conventional cars get you there? That's what Pratik Gupta, 36, an electric ...

Taking the roads by Strom, this EV can break the affordab...
The Economic Times The Economic Times

Billed as an urban mobility solution which offers a safe and air-conditioned cabin for two, Strom-R3 is priced at Rs 4 la...

Logo of Strom Motors

Strom Motors

Strom Motors successfully raised $310,137 from 499 investors on July 1, 2021
Profile picture of Erhan Bilici
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Erhan, Takashi, Terry, Alex, Patrick, and 494 others invested. 115 Reviews
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