UK-based startup FreeFlow Technologies has launched a campaign on equity crowdfunding platform Angels Den to raise £120,000 for the development of its light power to weight E-Bike system. The company previously secured £380,000 through 38 Angels Den investors just two years ago.
FreeFlow Technologies was founded in 2012 in Glasgow by Neil MacMartin and has designed an innovative E-Bike system that it stated promises to be lighter, more compact and more energy efficient than the competition, meaning riders will be able to go faster and further for less effort. FreeFlow’s E-Bike transmission system technology is patent published in 14 territories worldwide, including Europe, U.S., and China. The company stated:
“E-Bikes provide riders with on demand pedal assist, giving people a power boost when they need it, making it easy to cover long distances without breaking a sweat if required. FreeFlow Technologies powered E-Bikes have the additional benefit of riding like normal bikes when unpowered.The global E-Bike market has grown rapidly in the last decade, with over 30 million E-Bikes now being sold worldwide per annum, the majority of these in China. The European market is growing strongly, with close to 1 million units now sold per annum. Major players include Bosch and Yamaha. Demand for E-Bikes is expected to continue to grow strongly with demand coming from various segments, including commuters, sports and leisure and city bikers.”
So far, the campaign has raised nearly £90,000. It is set to close at the beginning of October.
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