Atlis Motor Vehicles Valuation, Funding & Investors
Atlis Motor Vehicles is valued at $950M as of November 2022.
Last Atlis Motor Vehicles valuation
$950M
Undisclosed stage · Nov 2022
Last Atlis Motor Vehicles funding round
$30M
Undisclosed stage · Nov 2022
Cumulative funding Atlis Motor Vehicles raised
$69M
across 9 funding rounds
Key investors in Atlis Motor Vehicles
Pario Ventures
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Erik PetersonDavid Murray-Hundley
- Mirza Canada
Meyer Global
About Atlis Motor Vehicles
Atlis Motor Vehicles is a Mesa, Arizona-based company founded in 2016 that engineers 100% battery-electric pickup trucks for consumer and commercial use. The flagship Atlis XT offers up to 500 miles of range, 18,000-pound towing capacity, and 15-minute charging for 15% to 80% capacity using 1.5-megawatt charging stations. The firm develops modular platforms compatible with existing tools and supplies for fleet transitions from diesel vehicles.
Founded
2016
HQ
Phoenix, AZWebsite
Status
Privately held
Customer focus
B2B & B2C
Revenue model
Product sales
Valuation
$950M (Nov 2022)
Atlis Motor Vehicles Valuation
Atlis Motor Vehicles is currently valued at $950M, based on its undisclosed-stage round in November 2022.
Atlis Motor Vehicles' valuation has grown 238x from $4M at its pre-seed round in March 2018 to $950M in November 2022, across 8 priced rounds.
Atlis Motor Vehicles valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Nov 2022 | Undisclosed stage | $950M |
| Aug 2022 | Seed | $1.9B |
| Jan 2022 | Pre-seed | $962M |
| Sep 2021 | Pre-seed | $390M |
| Aug 2020 | Pre-seed | $166M |
| Apr 2020 | Pre-seed | $91M |
| Dec 2019 | Pre-seed | $4M |
| Mar 2018 | Pre-seed | $4M |
Atlis Motor Vehicles Funding History
Atlis Motor Vehicles has raised a total of $69M across 9 funding rounds.
Atlis Motor Vehicles' first fundraising round was a $1M pre-seed round in March 2018. The most recent completed round was a $30M undisclosed-stage round in November 2022.
Atlis Motor Vehicles funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2022 | Undisclosed stage | - | $30M | $950M | Atlis Motor Vehicles, an electric vehicle startup based in Mesa, Arizona, develops electric pickup trucks and advanced battery technology. In April 2022, the company launched a Regulation A+ crowdfunding campaign aiming to raise $10 million at $15.88 per share, with the investor website stating a current valuation of $950 million, up 146% from the prior campaign. This pre-revenue valuation aligned with high marks for other EV startups like Nikola ($2.9B market cap) and Rivian ($50.9B valuation), despite limited production. The company reported securing $300+ million in future revenue from battery technology contracts and over 24,000 contractual truck orders worldwide, positioning 2022 as a growth year to become revenue-generating. Previous fundraising included earlier Reg CF and Reg A+ rounds totaling around $35 million from retail investors, with institutional capital additional. A 2020 StartEngine campaign valued the company at $89.82 million pre-money. By March 2022, ahead of a Nasdaq listing attempt, Atlis had 34 million shares outstanding offered at $27.50, implying a ~$941 million market cap. Shares surged to $243.99 then settled around $63 upon trading start in September 2022, creating substantial gains for early investors (e.g., up to 1,900% from $12.74 shares). Atlis licensed battery tech to firms like UK-based INDe EV and planned IPO without a firm timeline. Financial projections from earlier memos anticipated $68 million in sales from 1,000 trucks in 2021 and required $370 million over six years for profitability, targeting innovations like 15-minute charging and self-driving features. As of June 2022, non-affiliate shares had an aggregate market value of ~$109 million at $15.88 Reg A price. |
| Sep 2022 | Seed | - | $1M | - | - |
| Aug 2022 | Seed | - | $3M | $1.9B | Atlis Motor Vehicles develops electric pickup trucks and batteries, focusing on the XT pickup and XP platform with advanced features like fast-charging batteries. In 2022, the company conducted multiple crowdfunding rounds on Rialto Markets, including a RegA+ offering closing September 26, 2022, at a $1.9 billion valuation. Prior rounds included a July 22, 2022, raise of nearly $13 million at $950 million valuation and earlier campaigns building to over $36 million in total prior capital raised. The company had raised over $21 million via prior crowdfunding by early 2022, supporting battery development and workforce growth. The company aimed to use funds for engineering hires, battery testing equipment, production design, and sales expansion to ramp up toward vehicle production and delivery. Atlis planned to become revenue-generating in 2022 while leveraging Regulation A+ crowdfunding for operations until larger capitalization. |
| Jan 2022 | Pre-seed | Mirza Canada | $12M | $962M | Atlis Motor Vehicles develops 100% battery electric trucks for commercial markets and charging stations. The company raised funds through multiple crowdfunding campaigns, including $1.07 million on StartEngine in 2018 at $0.29 per share, another $1 million in 2019, and $5 million on Rialto Markets in 2021 at $12.74 per share, totaling around $35 million from individual investors plus institutional capital. A 2020 StartEngine offering had a pre-money valuation of $89.82 million at $5.93 per share. Prior self-ascribed valuations included $165 million in a 2020 offering memorandum and $385 million before its 2022 Nasdaq listing. No details found on a $12.3 million round from Mirza Canada in January 2022; a $30 million private placement via convertible notes closed its first $10 million tranche in November 2022. |
| Sep 2021 | Pre-seed | - | $5M | $390M | Atlis Motor Vehicles develops 100% battery electric trucks for commercial markets, including the XT pickup truck with advanced battery technology. The company pursued multiple crowdfunding rounds, including a 2021 Reg CF on Rialto Markets with a self-ascribed valuation of $385 million. Earlier rounds included a 2020 offering at $165 million valuation raising $14.8 million and a StartEngine campaign with pre-money valuation of $89.8 million. In September 2021, Atlis continued crowdfunding efforts under Regulation CF and A+ to fund operations toward production and milestones like shipping 1,000 XT trucks. The company projected $68 million in sales upon initial shipments but had not yet generated revenue as of 2022 plans. Total crowdfunding raised approached $35 million from retail investors across rounds. Following the 2021 raises, Atlis pursued a Reg A+ offering and Nasdaq listing in 2022 with 34 million shares at $27.50 implying over $900 million market cap, though shares fluctuated significantly post-IPO. |
| Aug 2020 | Pre-seed | - | $15M | $166M | Atlis Motor Vehicles is an Arizona-based electric vehicle startup focused on developing advanced battery technology and manufacturing pickup trucks and mobility platforms. The company is known for its aggressive development targets, including rapid battery charging capabilities and autonomous driving features as standard offerings. Atlis has pursued an unconventional funding strategy, relying primarily on Regulation A+ and Regulation Crowdfunding offerings through platforms like StartEngine and Rialto Markets rather than traditional venture capital. The company has raised approximately $36.2 million in total prior capital across multiple crowdfunding campaigns. The company has secured partnerships and pre-orders, including an order for 19,000 XT pickups from Australian Manufactured Vehicles Pty Ltd and a battery recycling partnership with Li-Cycle, positioning it within the competitive EV startup landscape alongside better-capitalized peers like Rivian and Nikola. |
| Apr 2020 | Pre-seed | Pario Ventures; David Murray-Hundley | $1M | $91M | - |
| Dec 2019 | Pre-seed | Meyer Global | $1M | $4M | - |
| Mar 2018 | Pre-seed | Erik Peterson | $1M | $4M | - |
Who has invested in Atlis Motor Vehicles?
5 investors have backed Atlis Motor Vehicles across its funding rounds, including Pario Ventures, Erik Peterson, David Murray-Hundley, Mirza Canada and Meyer Global.
Atlis Motor Vehicles Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| United States | 1 | Participant | Dec 2019 | |
 London | 1 | Participant | Apr 2020 | |
| London | 1 | Participant | Apr 2020 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAtlis Motor Vehicles Competitors
Atlis Motor Vehicles competitors include listed companies like Voyah and Einride, and private ones like Singulato Motors, Lordstown Motors, Stark Future and Jidu Auto.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Beijing | Private | - | - | $900M | - | |
| China | Publicly listed | $5.2B | $562M | $883M | 0.1x | |
| Detroit, MI | Private | - | - | $700M | - | |
 Sweden | Publicly listed | $47M | ($93M) | $570M | - | |
 Barcelona | Private | $132M | - | $555M | 4.2x | |
| Shanghai | Private | - | - | $2B | - |
Atlis Motor Vehicles Public Comps
Atlis Motor Vehicles is still privately-owned, but its public comps include Voyah, ADS-TEC Energy, Marcopolo, IDOM, Bajaj Mobility, Piaggio, Ferretti, Otokar, Uniconn and New Gonow Recreational.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $5.2B | $562M | 0.1x | 0.1x | 0.7x | 1.3x | |||
| $36M | ($3M) | 23.2x | 26.7x | (278.0x) | - | |||
| $1.8B | $367M | 0.8x | 0.8x | 3.9x | 5.2x | |||
| $3.6B | $147M | 0.4x | 0.3x | 9.0x | 7.8x | |||
| $1.2B | $1B | 1.8x | - | 2.0x | - | |||
| $1.7B | $284M | 0.8x | 0.7x | 4.7x | 4.5x | |||
| $1.5B | $232M | 0.7x | 0.7x | 4.5x | 4.6x | |||
| $1.1B | $155M | 1.5x | 1.2x | 10.5x | 24.2x | |||
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Common questions about Atlis Motor Vehicles
| When was Atlis Motor Vehicles founded? | Atlis Motor Vehicles was founded in 2016. |
| Where is Atlis Motor Vehicles headquartered? | Atlis Motor Vehicles is headquartered in Phoenix, AZ, United States. |
| Is Atlis Motor Vehicles publicly listed? | No, Atlis Motor Vehicles is a private, VC-backed company. |
| What is Atlis Motor Vehicles' valuation? | Atlis Motor Vehicles was last valued at $950M in its undisclosed-stage round in November 2022. |
| How much funding has Atlis Motor Vehicles raised? | Atlis Motor Vehicles has raised $69M across 9 funding rounds. |
| What was Atlis Motor Vehicles' last funding round? | Atlis Motor Vehicles' last funding round was a $30M undisclosed-stage round in November 2022. |
| Who are Atlis Motor Vehicles' investors? | Atlis Motor Vehicles' investors include Meyer Global, Pario Ventures, David Murray-Hundley, Mirza Canada and Erik Peterson. |
| Which companies are comparable to Atlis Motor Vehicles? | Companies comparable to Atlis Motor Vehicles include Singulato Motors, Voyah, Lordstown Motors, Einride, Stark Future and Jidu Auto. |
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