Sydney-based bike know-how startup Forcite is on observe to boost $6million in a Sequence A as the corporate enters the ultimate day of its fairness crowdfunding marketing campaign on Equitise.
With round 10 hours left within the marketing campaign earlier than it closes at 9pm on Weds, February 16, Forcite has raised $1.15 million from traders in the direction of a most goal of $3 million.
The elevate will worth the enterprise at greater than $23 million.
Forcite has already raised $4.6 million through Sequence A choice shares in a spherical led by Uniseed with assist from new and present backers.
Based in 2013 following a bike accident involving founder and CEO, Alfred Boyadgis, the corporate goals to supply a safer, extra dynamic driving expertise with the Forcite MK1 good bike helmet.
The MK1 offered out with 1,380 riders placing one on their heads and Boyadgis has been engaged on the following technology MK1S, that includes a number of upgrades that got here from present consumer suggestions
Greater than 14,000 potential prospects have registered their curiosity for the helmet in Australia, US and Europe.
Forcite can be engaged on a number of three way partnership collaborations with international bike producers to combine good applied sciences inside bikes.
Boyadgis stated Forcite has created a extra dynamic, thrilling and protected driving expertise with our good helmet know-how.
“Our knowledgeable crew of designers, builders, and engineers are additionally bike fanatics who use Forcite know-how every day to allow them to always take a look at, study and make iterative enhancements after each experience,” he stated.
“They’ve their fingers effectively and really on the heartbeat. With this funding from enterprise capital and fairness crowdfunding we’re increasing globally and constructing our R&D pipeline for the following technology of Forcite bike helmets and in-bike applied sciences.”
The CEO stated the brand new capital means the corporate now geared as much as reap the benefits of the increase within the bike and outside and leisure gear sector and he’s grateful for the neighborhood Forcite has constructed.
“Forcite’s success is right down to the involvement of the bike neighborhood who’ve been with us each step of the way in which, offering invaluable suggestions throughout product growth. Our fairness crowdfunding is one other technique to foster this partnership with riders,” he stated.
Uniseed Funding Supervisor Natasha Rawlings stated Forcite has positioned itself as a market chief within the bike know-how business with a quickly rising and constant buyer base.
“We strongly consider in Forcite’s technique of offering class defining merchandise and a neighborhood centred strategy to enterprise,” she stated.
“They’re pondering effectively past the bike helmet class and have the assist of the motoring business to go there.”
Forcite now has 18 full-time staff and 60% are bike riders.
