Startup of the Week: EVantage (Polaris eBikes)
Our mission is to develop industry changing technologies for light electric vehicles, and launch those technologies in our own vehicles. We have developed a brand license partnership with Polaris Industries to launch a line of ground up designed electric bicycles into the US as an alternative option for recreation, transportation, and fitness. All are powered by proprietary technologies developed by EVantage. The goal is to eventually work our motor technologies into other categories of electric vehicles from scooters, outboard motors for boats, motorcycles, and eventually cars.
Reflect a bit on where you’ve been as a business, and where you aim to be in 3 years.
This business was sparked by finding out about eBikes and wanting to make a product and motor tech that would meet the needs of the American and international markets. We have been working day and night for over 3 years to develop the technology, build the relationship with Polaris to bring this line to market, and begin setting up our dealer network. In 3 years, we project that Polaris eBikes will be the brand to generate mass awareness about electric bicycles. We plan to be the largest distributor of eBikes in the US, a leading brand in Europe, and a recognized motor development company working on OEM motor systems for other categories of vehicles.
What’s been the biggest challenge you’ve overcome?
Development of a new technology, and making it market ready. Tons of unforeseen challenges in making the motor system street ready and making sure it is up to our standards. We chose not to use off shelf technologies, and that always will be a tougher route.
What remains the biggest obstacle?
Awareness and technology development. They go hand in hand. There is very little awareness about electric bicycles and their benefits. When someone learns about eBikes and test rides them, they become an instant fan and often times an owner. Through our awareness campaigns we are also learning about what customers are truly looking for, and we include that commentary in planning and software adjustments.
Are you currently looking for financing?
We have raised a round of capital, and are not currently seeking additional capital until we have grown our revenue to a point where we think it will warrant a correct valuation.
Any last words?
Try one out. Biking can be fun again. Also, please don’t forget about us hardware products companies that make things you can touch when talking about startup communities.
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