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World's 1st Plug & Play e-bike upgrade device ⚡️🚲

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Security Type
Retail, Consumer Goods & Products, Technology, Healthcare & Medical, Transportation & Storage, Health & Fitness
Min Investment
Brooklyn, NY
Expected Close Date
April 29, 2024
Target Raise
No. Investors
Security Price
Number of Employees
Short Term Debt
Cost of Goods
Long Term Debt
Net Income

Key Deal Facts

🏅 Som (CEO) recognized as Top Innovator by MIT Technology Review 🚀 1000+ units pre-sold with Zero marketing (D2C) plus a PO to upgrade legacy bike-share fleet (B2B) 🎓 Tech born out of MIT Media Lab TIME Magazine's "Best Inventions of the year" + Micromobility Europe's 2023 "Startup of the Year" 🛠 $2Mn from Seed1 round invested in R&D, manufacturing and securing patents in 45 countries 🌎 Current Seed2 Open to be invested in scaling production, mkt expansion & V2.0 R&D 📈 Disrupting the e-Bike mkt that's expected to grow from $49.7Bn in 2022 to $80Bn in 2027 💪 Core team & advisors includes experts from McKinsey, Amazon, Jabil, Nissan, and Motorola.

Management Team / Advisory Board Bios

Somnath Ray CEOMIT-trained design technologist, recognized by MIT Technology Review as a top innovator and a serial entrepreneur with more than two decades building consumer focused software and hardware products., Clement Alcala COOMontpellier Business School trained MBA, Acumen fellow and innovation manager with more than a decade deploying sustainable tech across the world., Eric D'A Correll Lead Mechanical EngineerMIT trained engineer, Eric leads the complex engineering execution for CLIP that allows it to be compatible with all regular bikes., Andrew Tergis Lead Electrical EngineerRPI trained electrical engineer, with expertise in full-stack and focus on mixed-signal microprocessors using a wide variety of sensors and RF communication protocols., AK Misra Supply Chain DirectorAccomplished professional with a successful record of executing major turnarounds for large scale, technology driven, Global Supply Chain Operations in EMS and OEM industry. Former Amazon, Motorola and Jabil.

Amount Raised : $2,780,000
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Security Description

A CAFES (Contract and Future Equity Stake) can convert into different types of equity upon a Triggering Event, such as: common or preferred stock for a corporation, limited partnership interest for a limited partnership and membership interest for a limited liability company. At the time of the Triggering Event, the specific rights and limitations associated with the equity stake being issued to the investors will be determined and disclosed by the Entrepreneur.

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