Earlier this month, UK-based startup FreeFlow Technologies returned to AngelsDen, seeking nearly £120,000 for the development of its light power to weight E-Bike System. The company raised £380,000 through its first equity crowdfunding campaign in 2014. Now, it has found success for the second time as has secured its funding goal.
As previously reported, FreeFlow Technologies’ E-Bike transmission system is patent published in 14 territories worldwide, including Europe, U.S. and China. FreeFlow stated that it’s innovative E-Bike system 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 reported a successful Eurobike show in Friedrichshafen, Germany earlier this month. The company attended the event as part of a group of innovative startups supported by Scottish Development International and stated that their products had generated strong levels of interest from customers across the world. FreeFlow are aiming to have their systems in market by 2018. FreeFlow also noted:
“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.”
The campaign is set to close at the beginning of October.
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