Driven Technologies

Driven Technologies

Revolutionary drivetrain platform for bikes and e-bikesBicycle drivetrains have remained unchanged for over 100 years. Specifically, today's mechanical design of the exposed dirty chain snaking through pulleys is exactly the same technique used in the 1920's. Some may view this as an 'If it ain't broke don't fix it' approach. But cyclists have been begging for a fix; a way out of the 1920s. Enter Driven.The Driven development program was initiated in 2017 as a collaboration between CeramicSpeed and the University of Colorado Mechanical Engineering Department. The original design intention w...

Min investment
$1,000
Amount raised
$685,824
Goal
$25K-$1M
Days Left
63
Location
Boulder, CO

CrowdLustro Research Report

Security Type
Crowd Note
A Crowd Note modifies the typical convertible note so that the crowd does not automatically convert to equity shareholders on the next financing and remain off the issuer’s capitalization table, but the crowd will still participate in any exit as if they had converted to equity. If there is no future financing, the holders of the Crowd Note still have upside, but could miss out significantly.
Industry
General
Filed
April 27, 2021
Expires
July 10, 2021
Valuation Cap
$3.3M
Deal Structure

Interest rate: 5.0% Note term: 24 months

Use of Proceeds

If minimum amount is raised: product development, manufacturing, sales/marketing and G&A

If maximum amount is raised: product development, manufacturing, sales/marketing and G&A

 

Management

Jason Smith, CTO of CeramicSpeed and CEO of Driven Technologies
Jason is responsible for the R&D of the Driven System. Post financing, he will transition solely to the CEO & CTO of the Driven Technologies. Jason has a BS in Materials and Science & Engineering, with a focus in Mechanical Ceramics, from the Pennsylvania State University.

Research Reports

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Key Deal Facts

The Driven System was the recipient of the Innovation Award at EuroBike 2018; the world's largest cycling tradeshow
Multiple granted and pending patents in the US, Asia, and Europe covering the Drive and Shifting system, all owned by Driven Technologies
Over 1 Billion web interactions within the first month of the introduction of the Driven System and over 65,000 page results on Google currently
Relationships and collaborations with large OEM bicycle manufacturers such as Specialized and Canyon
Testing with students and faculty at the University of Colorado Mechanical Engineering department projects drivetrain efficiency of 98.9% at 250 watts and cost analysis with Human Powered Solutions shows target cost of goods of $500 with target sale price to OEMs of $1400 to $1600

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