Eco Investor February 2015

Unlisted Companies

Electric Bike Raises $120,000 on Kickstarter

Early stage electric bike company Dillenger Pty Ltd has raised $119,659 from 222 backers in 15 days on crowd funding platform Kickstarter. The company had initially sought $30,000 but has now increased the target to $250,000. The Kickstarter project will be funded on 28 February.

Dillenger director Sam Sewell said the company has developed a folding electric bike that it is selling for under $400, making it the world's most affordable electric bike.

The funding is for the production of a new version of its popular folding bike, the Cheetah. The electric bike comes with a warranty and after sales service.

Kickstarter supporters can receive a Cheetah by pledging for a reward. Each pledge for a Cheetah increases the funding by $399 plus shipping and in return the supporters get a new Cheetah. Supporters who have pledged for the Cheetah will also receive a free bicycle repair and maintenance toolkit that is normally valued at $59.


The white Cheetah foldable electric bike.

Mr Sewell says electric bikes are a fantastic invention. "They are a fun, healthy and environmentally friendly solution for our transportation problems, they are a great way to interact with world around you and they are a lot of fun!"

The problem for consumers has been cost. The average price for an electric bike is over $1,700, more expensive than some second hand cars.

"We now know that there are better, more cost-effective ways of producing electric bikes whilst still maintaining the same great features and a quality that our customers deserve," he said. "We've invested in new design and production techniques that allow us to produce the Cheetah and deliver it to our customers at a price point that blows the competition out of the water!"

"Before this model is priced for retail distribution, we're going to offer this at early bird prices never before imagined for a product like this. We've already organized shipping arrangements to deliver the Cheetahs to anywhere in the world, with the first available production scheduled for delivery in February 2015, with the second production due to be delivered later the following month."

With pedal assist the Cheetah has a range of up to 45 kilometres and a top speed of 20 kilometres an hour. It weighs 28 kilograms. The battery is 12Ah and 24V and a charger is included. The bike has 16 inch wheels and a single speed gear. It is foldable, and arrives 95 per cent assembled with just the seat and pedals to be attached. It comes in four colours: black, white, red or blue.

The electric bike design and manufacturing company is based on the Gold Coast. It began in 2007 when the founders of a small engineering firm were looking to build a custom bike frame from stainless steel rods. This led to the thought of motorizing it. The prototype electric bike led to requests from local clients and the interest continued to grow.

 

 

 

 



 





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