# Popwheels

Battery Swapping Infrastructure, for the People Who Power Cities

- Canonical URL: https://wefunder.com/popwheels.inc
- Entity ID: wefunder:company:190773
- Last updated: 2026-06-20T02:35:12Z
- Generated at: 2026-06-20T03:01:37Z

## Quick facts
- Pioneered and launched a unique battery-swapping network in North America
- Designed and built a first-of-a-kind fire-safe battery-swapping station
- Scaled to 50+ stations, 1000+ customers, 200k+ swaps in under 1 year
- Multi-billion dollar market opportunity with path to $20M ARR within 3 years
- Launched in three new markets in first year: DC, Toronto, Philadelphia. 25+ target markets by 2028
- Selected as winner of 2025 Urban Future Prize from over 350+ startups
- Raised over $5m in funding from VCs, nonprofits, government agencies, lenders, and more.
- Selected as #1 performer in NYCDOT pilot for solutions to battery fire crisis (97% conversion ratio)

## Active fundraises
- wefunder:fundraise:152951: 4(a)(6) successful (USD)
- wefunder:fundraise:152950: 4(a)(6) open (USD)

## Story
More than ever, cities run on batteries.Delivery workers rely on them every day as hundreds of thousands of e-bikes and light electric vehicles have taken over last-mile logistics, but the need goes far beyond that—replacing gas generators, backing up buildings, and supporting a more resilient, electrified grid. The infrastructure hasn’t caught up, leading to high costs, battery fires, and missed opportunities.That’s where PopWheels comes in. We’re building a new kind of urban battery network: A novel take on swapping and charging that makes energy accessible, reliable, and safe, and lays the foundation for how cities will power themselves going forward.We’re creating the next great piece of urban infrastructure, from the streets up. Join us in making this happen."PopWheels' fire-safe battery technology and first-ever battery-swapping network are exactly the kind of measures we need to keep New Yorkers, delivery workers, and the entire public safe." — U.S. Senator Charles SchumerThe ProblemCharging an eBike battery today is slow, dangerous, and broken.PopWheels was born out of the NYC battery-fire crisis, driven by up to 100,000 delivery workers adopting eBikes around NYC in the last few years.Delivery workers put up to 50 miles a day on their eBikes, but their batteries only cover half that range, if that. That means they need to buy multiple expensive batteries (often $700/year) and then find somewhere to keep them charged near their work. This leads to bad solutions:Wait hours for a chargeCarry multiple heavy batteries on your shiftGo home mid-shift and lose incomePay an eBike shop $75/month to illegally charge your battery indoors.This isn’t just a safety crisis, it’s a cost crisis. At PopWheels, we know that you can’t solve one problem without the other.The SolutionPopWheels solves both problems – cost and safety – at once.We’ve deployed a citywide network of proprietary, fire-safe battery swapping stations built for real urban conditions. Instead of buying, carrying, and charging batteries, delivery workers pay a single low monthly fee – less than what they already spend – to check out compatible batteries from our network. When they’re done, they can swap it for a fresh battery in under 45 seconds.It’s easy, affordable, and safe. It’s the solution delivery workers have been waiting for.The ProductBuilt for real-world use.PopWheels is an integrated system, designed and built by us, consisting of three components: Fire safe cabinets, certified safe batteries, and proprietary software linking the whole thing together.First-of-a-kind fire-safe battery-swap stations: In order to meet New York’s safety and regulatory requirements, we had to solve a problem nobody had solved before: How to fully contain a battery fire in a battery-swapping system. We designed a completely novel solution, automatically ejecting a compromised battery into a suppression tank before it can escalate. This approach has been independently tested to UL 9540A conditions and accepted by the FDNY, with next-generation UL 1487 certification expected in late 2026. As more and more cities adopt more stringent regulation, our proprietary tech becomes a major asset, allowing us to scale in a complex regulatory environment.Certified, compatible batteries. Unlike most other battery-swapping companies, we don’t make bikes. Instead, we’ve reverse-engineered our batteries to be compatible with the most common delivery bike models, so that they can adopt us with minimal friction while providing maximum flexibility.Our batteries are built for safety: Certified to UL 2271, monitored for health and temperature, GPS tracked, and specifically designed to prevent home charging, eliminating unsafe charging at the source.TractionWe have incredible product-market fit. It started with a pilot with NYCDOT in 2024, where we were selected as the #1 performer. 90% of our customers stopped charging at home completely and we saw 97% retention.Since then, we have been in full operations for barely 1 year, and during that time:We’ve deployed 50+ battery cabinets and 2,000+ batteriesThousands of customers have completed over 250,000 swapsMost customers have stuck around; our churn is in the low single digits.Launched in 4 cities: NYC, Washington, D.C., Toronto, PhiladelphiaPerhaps most importantly, though: We have had zero fire incidents.Demand is robust: Nearly every time we put out more cabinets and batteries, they sell out fast. We just need to scale.All projections are forward looking and not guaranteedWhy NowThree megatrends are converging, and PopWheels sits at the intersection of all three.1. The eBike Boom Is Already Here NYC's delivery workforce runs on light electric vehicles. Adoption isn't a forecast—it's the current state. The fleet exists. The demand for reliable power is daily and urgent.2. Lithium Battery Fires Are a Public Safety Crisis Cities aren't debating whether to act—they're mandating it. Regulation is the tailwind, not the headwind.3. Electrification Requires Last-Mile Infrastructure The grid is evolving. EVs are scaling. But the charging layer for light electric vehicles—the workers and fleets moving goods through cities—has been ignored. That gap is the market.The demand exists today. The infrastructure does not. PopWheels is building it.All projections are forward looking and not guaranteedBusiness ModelPopWheels started as a B2C business. For $65–$95/month, riders subscribe to unlimited swaps across our network. Delivery workers are voluntarily paying ~$1,000/year out of their own pockets. That's the clearest signal of product-market fit we have—and it keeps us accountable. We re-earn their trust every day.That B2C base unlocks two more revenue layers that we are already seeing real opportunities in:B2B: Fleet operators like Whizz and platforms like Uber integrate battery-swapping to cut costs and improve efficiencyB2G: Cities pursuing large-scale urban electrification are coming to us for parallel deployment across entire metro areasThese aren't separate bets; they reinforce each other. B2C proves the model. B2B drives scale. B2G embeds us in the fabric of urban infrastructure.Beyond eBikesWe're building the gas stations of the 21st century.The same infrastructure that keeps delivery workers safe can replace the hundreds of thousands of small generators powering food carts (e.g., ‘PopCarts’), event crews, and construction sites across every major city.Our goal is to make swappable batteries part of how cities work—for logistics fleets, apartment buildings, energy providers, and the grid itself. What starts with delivery workers ends as a revolution in urban energy.This is a multi-billion dollar urban energy market.All projections are forward looking and not guaranteedTrusted Across the EcosystemWe're not pitching cities, corporations, and utilities. We're already partnered with them.Our partners span every level of the system: government agencies, national utilities, global logistics platforms, and leading impact investors.This is a ground-up, public-private model—built to scale equitably, and built for the workers who keep cities running.Expanding across North America (and beyond)We've made it in NYC; now, we’re making it everywhereWith all of these different applications, it’s become clear that if you look 5 years in the future, every major North American city will have urban-scale battery infrastructure. We’ve built a repeatable, sustainable process to roll out in cities across North America (and Europe is on the horizon!) to capture this opportunity in a de-risked fashion.What's NextWe have three goals for the next 12 months:1. Reach scale and profitability in NYC Deploy 150+ stations, solidify our market lead, bring on more B2B partners, and ship new technology.2. Expand across markets 100+ stations live across 6+ cities, with line of sight to dozens more.3. Expand the product Bring our food cart generator replacement ‘PopCart’ to market in 3 cities, launch building-amenity charge cabinets, and keep scaling.When we hit these, we will have proven that PopWheels is the next generation of essential urban infrastructure—deployable at scale, in any city.All projections are forward looking and not guaranteedWhy A Community RoundCommunity is at our core.Everything we’ve built has come through block-by-block community building–delivery drivers, eBike commuters, urbanists, street vendors, building owners, parking lot managers, restaurants, electricians, mechanics, to only name a few–we’ve always dreamed of giving our community an opportunity to have real ownership in what we are building.In 2025, we closed $4M+ in equity and debt from leading impact investors including the Partnership for NYC, Closed Loop Partners, NYS Ventures, Metaprop, and the Afterglow Climate Justice Fund. With that foundation in place, we're opening this round to anyone who believes in our mission.Use of FundsProceeds from our community round will finance:2–3 new sites in NYC,1 new site in a new city,‘PopCart’ research and development, along with new products, andOperationsIf we hit $500K, we do this all faster.We’re building a new kind of urban battery network: A modern take on swapping and charging that makes energy accessible, reliable, and safe, and lays the foundation for how cities will power themselves going forward.All projections are forward looking and not guaranteedJoin UsDisclaimer: This document is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities. Certain statements herein are forward-looking and subject to risks and uncertainties. Performance metrics are based on internal data and may not be indicative of future results.

## FAQ
1. **1. Are these the same financial terms as your recent VC round? 2. Do you use debt to finance the hardware parts of your operation? Cabinets, batteries, etc? 3. What exit scenarios and timelines do your see for this company?**
   - 1. Are these the same financial terms as your recent VC round? No. These terms are different and higher than our recent VC round. Our prior round (which we refer to as the seed round) was priced at a $12M valuation. This round is structured as a step-up valuation reflecting the company’s progress: $20M valuation for the first $100k invested. Then stepping up to $25M valuation. Applicable until we reach $500k total invested. Since the seed round, the company has advanced meaningfully in deploy...
2. **how far are you from profitability today?**
   - Thanks again, Carlos. We are on track. As subscribers grow, unit economics improve. In New York City, if we meet our targets, we may be profitable as soon as the end of this year. Beyond that, it will be a determination of how much we want to trade off profitability for growth.
3. **any financials? i didn't see any. is there a minimum to invest?**
   - We are currently ‘testing the waters’ ahead of our Form C filing. Full financials — including two years of audited statements and key KPIs — will be available once Form C is submitted. We will also host a live investor Q&A in the coming weeks. The minimum to invest is USD $100.00
4. **What are current monthly revenues and burn rate? How much cash do you have on hand and when will you need to raise the next round and how much will you need to raise?**
   - Thank you Seth for your reservation and kind words! We are currently ‘testing the waters’ ahead of our Form C filing. Full financials — including two years of audited statements and key KPIs — will be available once Form C is submitted. We will also host a live investor Q&A in the coming weeks. What we can say now: we are actively generating over $1M in ARR and managing burn carefully. If the conditions are right, we may raise an institutional up round as soon as late this fall or early w...
5. **Also, who are your competitors? and what's your competitive advantage on them**
   - Thank you, Carlos--we really appreciate your engagement! In North America, the only other company operating in this category is a German startup. We know them well and are friendly with them, but we believe we have a stronger product offering owing to our ability to use NMC batteries, which offer vastly superior range and cold-weather performance. Being the local company who understands the on-the-ground realities of this business is a major asset as well. But the real competition is not othe...

## Team
- Baruch Herzfeld (Co-Founder)
- David Hammer (Co-Founder)

## Q&A
- Q: Looking today (5/21/26) when starting the flow to invest, wefund indicates a $20M valuation cap. Can you confirm if that is still available because of the "reset" from 500 to 750 or if it's an error with wefund?
  - A: Thank you Eric, We appreciate you flagging this as it looks like an error. I just sent you a DM to troubleshoot. Thanks, Lorenzo
  - A: Eric, thank you again for this question. The reason the early-bird is showing is because we are currently taking reservations, not direct investments. The early bird allocation will go to the investors who reconfirm their reservations first, up to the allocation number.
- Q: any financials? i didn't see any. is there a minimum to invest?
  - A: We are currently ‘testing the waters’ ahead of our Form C filing. Full financials — including two years of audited statements and key KPIs — will be available once Form C is submitted. We will also host a live investor Q&A in the coming weeks. The minimum to invest is USD $100.00
- Q: 1. Are these the same financial terms as your recent VC round? 2. Do you use debt to finance the hardware parts of your operation? Cabinets, batteries, etc? 3. What exit scenarios and timelines do your see for this company?
  - A: 1. Are these the same financial terms as your recent VC round? No. These terms are different and higher than our recent VC round. Our prior round (which we refer to as the seed round) was priced at a $12M valuation. This round is structured as a step-up valuation reflecting the company’s progress: $20M valuation for the first $100k invested. Then stepping up to $25M valuation. Applicable until we reach $500k total invested. Since the seed round, the company has advanced meaningfully in deployment, operations, and regulatory positioning, which is reflected in the pricing of this raise. 2. Do you use debt to finance the hardware parts of your operation (cabinets, batteries, etc.)? Yes. We use non-dilutive debt financing for hardware like cabinets and batteries. 3. What exit scenarios and timelines do your see for this company? We’re building Popwheels as long-term, mission-driven urban energy infrastructure. If an opportunity arises that advances our mission, benefits cities and riders, and delivers a fair outcome for shareholders, we would consider it.
- Q: Hi Popwheels, Can you share the unit economics of a typical battery swap station today and what they are expected to look like at scale? Specifically, how long does it take for a new station to reach breakeven, what customer density is required for attractive returns, and what gives you confidence that the model can remain profitable as you expand from NYC into 10+ additional cities? Thank you, Glenn
- Q: Also, who are your competitors? and what's your competitive advantage on them
  - A: Thank you, Carlos--we really appreciate your engagement! In North America, the only other company operating in this category is a German startup. We know them well and are friendly with them, but we believe we have a stronger product offering owing to our ability to use NMC batteries, which offer vastly superior range and cold-weather performance. Being the local company who understands the on-the-ground realities of this business is a major asset as well. But the real competition is not other battery-swapping companies but the informal charging network — buildings, bodegas, generators, extension cords. We are the leading USA-born company in this space, and we believe we win on team, partnerships, product, and customer obsession.
- Q: What are current monthly revenues and burn rate? How much cash do you have on hand and when will you need to raise the next round and how much will you need to raise?
  - A: Thank you Seth for your reservation and kind words! We are currently ‘testing the waters’ ahead of our Form C filing. Full financials — including two years of audited statements and key KPIs — will be available once Form C is submitted. We will also host a live investor Q&A in the coming weeks. What we can say now: we are actively generating over $1M in ARR and managing burn carefully. If the conditions are right, we may raise an institutional up round as soon as late this fall or early winter, otherwise our next round will likely be in 2027.
- Q: how far are you from profitability today?
  - A: Thanks again, Carlos. We are on track. As subscribers grow, unit economics improve. In New York City, if we meet our targets, we may be profitable as soon as the end of this year. Beyond that, it will be a determination of how much we want to trade off profitability for growth.