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Volcon Update 5/26


Over the course of last year we introduced you to some promising and disruptive companies. But one of our favorites has to be Volcon.

And while some folks may think the EV space has gotten crowded. Volcon has created a unique niche for itself, focusing on EVs for the outdoors person. Whether that’s hunting, fishing, farming, or off-roading.

So what has Volcon been up to?

 

How did 2020 shape up for your company? 

2020 finished on schedule for our product development and fundraising milestones. We continued to develop and test new prototypes for our Grunt and Runt electric motorcycles and raised all necessary capital through our Reg-CF and Reg-D rounds. 

What were some of the numbers on your raise?  Amount Raised? Number of Investors? 

We have $17m in investment from over 1200 investors

What did you learn from your Reg CF raise? 

We learned that there is so much enthusiasm and excitement for our products from our investors–small and large. Our investors provide great feedback, encouragement and evangelism for our brand and our products. The Reg-CF investors became members of our Volcon family.

How has the 1st part of 2021 gone for you? 

2021 has been a whirlwind of growth, product development and consumer pre-orders. We have gone from two employees to 24, about half of those in engineering and production.

More prototypes have been built and are being tested around the clock. We’ve completed our Design Validation Testing product phase and we are now moving to Production Validation Testing. Our first consumer production unit comes off our line on time on June 17.

The ability to pre-order our products began in November 2020, and in 2021 the order growth has exploded. It has forced us to revise our sales and production forecasts upward. 

Projections for this year? 

Due to the growing demand for the Grunt and Runt as driven by the high volume of pre-orders and extreme interest from retailer partners and foreign export customers, we have revised our projections up as we have doubled the forecast for unit sales. 

Are you planning another raise?  (Speak generally here, unless your raise is currently open). 

That is confidential, but we will make a public announcement when appropriate. 

What else would you like to share with The Boardroom members?

We really appreciate the support of investors who found us through the Boardroom. We appreciate their enthusiasm and welcome communication from the members. Our investors are our family, and we’re on an amazing ride together! 

Talk soon,