Aptera pivots to crowdfunding after VC failure, raises $90M, secures 160k reservations

Aptera originally raised over $50 million from Google and other VCs in 2007‑2008 but could not commercialize its solar‑electric three‑wheeler and eventually shut down.

More than a decade later, after repurchasing the liquidated assets of the original company, co‑founder and CEO Chris Anthony decided to try a different funding route and launched equity crowdfunding campaigns on the Republic platform.

To date the company has pulled in about $70 million from crowdfunding and another $20 million from private investors, produced a functional prototype, and accumulated more than 160,000 reservations for its Launch Edition, translating into over $9 billion of potential future revenue.

Secured $70M crowdfunding and $20M private, built a prototype, and got 160k reservations worth $9B future revenue.

The crowdfunding approach let Aptera offer non‑voting shares, allowing founders to keep strategic control while still raising money from a broad base of believers.

Equity crowdfunding created a built‑in fan base: thousands of investors became evangelists who spread word about the vehicle’s solar range and energy efficiency.

By tapping retail investors rather than relying on a shrinking VC pool for consumer hardware, Aptera bypassed the financing bottleneck that had killed its first attempt.

When traditional venture capital dries up, consumer-facing hardware startups can pivot to equity crowdfunding to retain control, build a loyal customer base, and access capital despite high risk.

With the funds secured, Aptera moved toward pilot production, began taking deposits for its Launch Edition, and continued to use its crowdfunding community for feedback and marketing. The company has since announced plans to scale up manufacturing and pursue additional funding rounds to bring the solar car to market.