Chainless Bike Brand JIVR Now Seeking €850,000 Through Seedrs Funding Round

JIVR, a foldable, electric, and chainless bike brand, is now seeking €850,000 through its equity crowdfunding campaign on SeedrsJIVR was notably launched as a concept in 2012 as a result of a University College London research paper which studied the quality of city life. CEO and Founder Marcin Piatkowski completed the research with an idea to popularise cycling to work and realized that in order to turn regular commuters into cyclists he needed to design a bike that offers all the benefits of cycling without the lifestyle compromises that usually come with it.

“The JIVR | Bike is the answer to mixed distance commuting challenges in large cities across the globe. The bike combines its three key USP’s—foldable, electric, chainless—into one beautifully premium bike. Its unique features now make it easy for non-cyclists to use this method of commuting by answering their main concerns; the e-motor allows you to get from A to B without breaking a sweat, the absence of a chain eliminates pesky oil stains, its compact and mobile form means it can be taken anywhere, making it perfect for storing under your desk and requiring far less maintenance than a conventional bike.”

While sharing more details about the bike and the Seedrs round, Piatkowski stated:

“Since its inception, JIVR has been focused on creating a product which appeals to the masses and solves everyday commuter headaches.  The launch of JIVR | Senses seeks to continue this mission and will help improve the safety of cyclists, thus eliminating further pain-points for those not yet sold on using an e-bike as part of their everyday routine. From being featured in critically acclaimed Netflix show Altered Carbon as the bike of the future, to producing 200 market-ready units so far, 2018 has been an incredibly exciting year for JIVR. We look forward to rounding it off on a high by inviting all our existing supporters to join us in our Seedrs round.”

Funds from the campaign will go towards the following:

  • Establishing a comprehensive sales channel mix of B2C, B2B and e-commerce tools to allow JIVR to reach a larger share of the market.
  • Funding the research and development of 4 new products based on modular elements which will enable us to compete in different markets, at different price points.
  • JIVR | Senses – New functionalities and accessories that will enhance safety and the rider experience, enabling JIVR to appeal to demographics with reservations about e-bikes as a transport option

Although the concept sounds interesting, there have been some issues with Jivr in the past. The company raised a total of £126,152 from 204 backers on Kickstarter in April 2015 for its anticipated bike but has yet to deliver the product nor has it refunded all backers choosing to ditch the project. Jivr reportedly sent out the following message to Kickstarter backers:

“Regarding any outstanding refunds for our Kickstarter backers, the Seedrs campaign has no bearing on this and the details of our plan remain unchanged from my previous post. You can be sure that we are doing everything possible to expedite the process and take care of the few remaining outstanding refund requests still pending.”

Despite the Kickstarter issues, since its launch, the funding round has secured more than €600,000. It is set to close later this winter.

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