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TERA Technologies

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Tera technologies develops and produces electric vehicles with proprietary range extension technology

105%
 - 
Funded 23 Aug 2023
£200,000 target
£242,894 from 301 investors
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Business overview

Location Duillier, Switzerland
Social media
Website www.tera.technology
Sectors Automotive & Transport Mixed Digital/Non-Digital Mixed B2B/B2C
Company number CHE-461.574.278
Incorporation date 4 Dec 2020
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Investment summary

Type Equity
Valuation (pre-money) £4.4M
Equity offered 4.56%
Tax relief N/A
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Business highlights

  • Successfully secured over €100,000 in future revenue
  • Built two drivable prototypes
  • Production to start in Q4 2023
  • Advantage: Patent-pending Range extension system
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Key features

  • Secondary Market
  • Nominee investment min. £11.22 +
  • Direct investment min. £30,000.00 +

Idea

Introduction

TERA Technologies aims to bring to the world the first electric cars you can charge everywhere.

Fast-forward to the present day, TERA Technologies is poised to disrupt the electric vehicle market with its flagship product, the MiracleONE. This revolutionary vehicle is equipped with a proprietary range extender technology, on a mission to redefine electric mobility.

TERA Technologies envisions a future where these batteries can be charged and swapped at any location, creating a flexible and user-friendly approach to electric vehicle charging. Their focus is not only on the development of innovative technology but also on the cultivation of an ecosystem that can support and propel the mass adoption of electric vehicles.

TERA Technologies is not just a company, it's a vision of a sustainable future. By innovating unique solutions to the challenges of electric mobility, we believe that TERA is poised to usher in a new era of sustainable transportation.

Substantial accomplishments to date

2014: Electric Race Car: The founders, Luca and Yoann, Built the first prototype of an electric race car within nine months of founding their university team. This project showcased their capability to innovate and bring sustainable ideas to life.

2018: Light electric vehicles sharing service: Transitioned from racing to sustainable mobility solutions. Luca and Yoann ran a car sharing company which introduced the world's first electric mini-4-wheelers in sharing and successfully launched operations in two countries, gaining thousands of users. This expansion validated the global appeal and practicality of their electric mobility solutions.

2020: Founding TERA Technologies. The company was founded late 2020 with a purpose to build a light electric vehicle with range extender battery technology in it.

2022: First prototype built. The first prototype was built in Q4 2022 and is drivable (not yet permitted for use on public roads).

Range Extender Technology. Prototype was built in Q1 this year.

MiracleONE. Our flagship vehicle has been produced during this quarter and offers the Range Extender Technology.

Sales Growth. Secured over €100,000 in revenue during a two-weeks campaign in March 2023, demonstrating market interest.

Monetisation strategy

TERA Technologies' primary monetization strategy revolves around the sales and rentals of its innovative products and services. The immediate goal is to sell the first 55 limited edition MiracleONE vehicles, manufactured exclusively in Switzerland, emphasizing the company's dedication to quality and precision.

From 2024 onwards, TERA plans to launch its MiracleTWO model. The plan is for this vehicle to be sold both online and offline, broadening the company's reach and accessibility. We envision offline sales to be facilitated through car dealerships throughout Europe, ensuring that potential customers can physically experience the vehicle before purchase.

Alongside vehicle sales, TERA aims to establish a steady stream of recurring revenue through its unique range extender technology. TERA envisions a rental model for this service, allowing users to pay for extra range only when needed.

Use of proceeds

First of all, one third of the funds will be dedicated to covering advanced production costs for the limited edition MiracleONE vehicles. This will ensure the manufacture of these high-quality vehicles in Switzerland, facilitating the company's initial entry into the market. The salaries of both directors and one full-time engineer are included in the production costs.

Subsequently, 30% of the funds will be channelled towards marketing efforts, with a view to increasing the visibility of TERA's products, broadening its customer base, and driving sales. Marketing initiatives will include both online and offline campaigns, and it is our goal to have partnerships with European car dealerships for the MiracleTWO model.

Finally, 40% of the proceeds will be invested in the pre-production development of the upcoming MiracleTWO model. These funds will enable TERA to innovate, enhance vehicle features, and further develop the unique range extender technology.

Key Information

FX Rate:

Please note, the lead investors in this round are investing in Swiss Francs (CHF). The pre-money valuation for the round is set at CHF 5,000,000.

Investments made in TERA Technologies in CHF are converted with an exchange rate of 0.88 CHF per GBP for the duration of the campaign.

Material Debt:

The Company has the following outstanding loans:

1. €30,000 non-interest bearing loan from Co-Founder Luca Placi entered into in September 2022. The Company intends to repay this loan from a future Series A financing round.

2. €30,000 non-interest bearing loan from Co-Founder Yoann Loetscher entered into in September 2022. The Company intends to repay this loan froma future Series A financing round.

The funds raised from this investment round will not be used to repay this loan.

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If you successfully purchase a share lot of this business, you will be granted access.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

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Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £4,399,998

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

Pitch type

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Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

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Nominee investment

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

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Secondary market

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Nominee investment). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

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Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

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