About Solectrac
Solectrac is a company based in Ukiah (United States) founded in 2012 by Stephen Heckeroth was acquired by Ideanomics in June 2021.. Solectrac has raised $1.3 million across 2 funding rounds from investors including Ideanomics and National Science Foundation. Solectrac offers products and services including Food Menu, Drinks, and Catering Services. Solectrac operates in a competitive market with competitors including AutoNxt Automation, Farm-ng, Seederal, Cellestial E-mobility and Moonrider, among others.
- Headquarter Ukiah, United States
- Founders Stephen Heckeroth
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Sectors
Transportation, Automotive & LogisticsAgriculture
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Molak Corporation
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Annual Revenue
$83.26 K-45as on Dec 31, 2021
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Net Profit
$-167.88 K7as on Dec 31, 2021
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EBITDA
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Total Equity Funding
$1.3 M (USD)
in 2 rounds
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Latest Funding Round
$1.3 M (USD), Seed
Oct 22, 2020
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Investors
Ideanomics
& 1 more
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Employee Count
Employee Count
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Acquired by
Ideanomics
(Jun 14, 2021)
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Products & Services of Solectrac
Solectrac offers a comprehensive portfolio of products and services, including Food Menu, Drinks, and Catering Services. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Selection of Mexican dishes including enchiladas and fajitas for on-site dining
Variety of quenching beverages to complement meals
Options for catering events with Mexican-inspired food
Funding Insights of Solectrac
Solectrac has successfully raised a total of $1.3M across 2 strategic funding rounds. The most recent funding activity was a Seed round of $1.3 million completed in October 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Seed — $1.3M
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First Round
First Round
(01 Dec 2016)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2020 | Amount | Seed - Solectrac | Valuation |
investors |
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| Dec, 2016 | Amount | Grant - Solectrac | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Solectrac
Solectrac has secured backing from 2 investors, including institutional investors. Prominent investors backing the company include Ideanomics and National Science Foundation. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Electric vehicles are manufactured and distributed using blockchain technology.
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Founded Year | Domain | Location | |
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A government-backed foundation providing seed-stage investments to support small businesses.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Solectrac
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Solectrac
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Solectrac Comparisons
Competitors of Solectrac
Solectrac operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as AutoNxt Automation, Farm-ng, Seederal, Cellestial E-mobility and Moonrider, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Electric tractors are manufactured for agriculture, industry, and defense uses.
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| domain | founded_year | HQ Location |
Provider of electric tractors for farmers
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| domain | founded_year | HQ Location |
Electric tractors are provided for farmers' battery-powered field operations.
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| domain | founded_year | HQ Location |
AI-enabled electric tractors and components are manufactured.
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| domain | founded_year | HQ Location |
Heavy-duty electric tractors for agricultural use are manufactured.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Solectrac
Frequently Asked Questions about Solectrac
When was Solectrac founded?
Solectrac was founded in 2012 and raised its 1st funding round 4 years after it was founded.
Where is Solectrac located?
Solectrac is headquartered in Ukiah, United States. It is registered at Ukiah, California, United States.
Who is the current CEO of Solectrac?
Stephen Heckeroth is the current CEO of Solectrac. They have also founded this company.
Is Solectrac a funded company?
Solectrac is a funded company, having raised a total of $1.3M across 2 funding rounds to date. The company's 1st funding round was a Grant of $225K, raised on Dec 01, 2016.
What is the annual revenue of Solectrac?
Annual revenue of Solectrac is $83.26K as on Dec 31, 2021.
What does Solectrac do?
Solectrac was founded in 2012 and is based in Ukiah, United States. Electric tractors are produced by the company within the sustainable agriculture equipment sector. Models such as the E-utility and E-framer are developed, incorporating features including optimized battery charging, exchangeable battery packs, and joystick controls. Operations focus on advancing electric propulsion for farming applications across various terrains.
Who are the top competitors of Solectrac?
Solectrac's top competitors include Farm-ng, AutoNxt Automation and Cellestial E-mobility.
What products or services does Solectrac offer?
Solectrac offers Food Menu, Drinks, and Catering Services.
Who are Solectrac's investors?
Solectrac has 2 investors. Key investors include Ideanomics, and National Science Foundation.
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