This week’s startup is CycleBoard, a California-based startup building the next generation of micro-mobility. This company builds a 3-wheeled, patented, lean-to-steer rover created for adventurers looking for fun and safety.
⚾ The Elevator Pitch:
Who says riding an electric scooter isn’t the coolest way of getting around. Here you are, standing stock still in an upright direction, grinding around on wheels like a penguin. And they are considered the ultimate reliance for gas-throttling cars - especially if you’re on a shorter journey. If bikes and electric scooters aren’t your things, this micro-mobility can surely ease your pocket as a budget-friendly way to travel relatively short distances.
CycleBoard, a company that combines both fun and adventure has created something the world has never seen before. From prototype to the mass production of Rovers, CycleBoard is on its mission to take three-wheeled EVs with lean-to-steer technology to a whole new level.
📈The existing EV market carries too much fall risk
The EV market is exploding and we’re seeing more and more competition entering the race. Regardless, this growing market still lacks products that adequately address consumers needs. Mostly, when we talk about EVs, the first thing that pops-up in our mind is the affordability. As the population grows, it further impacts the increasing time, cost, and headache associated with transportation. CycleBoard redefines stability and gives riders a chance to control what they can. The company accomplishes this by combining lean-to-steer technology with a single rear wheel, stability bar, and a dual front wheel – more stability means more fun.
🏎️ Increased Micro-mobility means significant growth for CycleBoard
Light personal electric vehicles are seeing a rise in the cities and even nationwide new car lines are appointed to assist these new bikes and people. As for the market trend, the Electric Scooter market is expected to grow from $18.6 Billion to $42 billion by 2030. And since CycleBoards is part of this massive change, the company has achieved $4.9M in lifetime sales by the end of 2020 - Let alone 110% sales growth in the pandemic. The company currently serves customers in 45 states and is pursuing distribution to new horizons.
👫 Owning the Customer Relationship
To date, CycleBoard has produced all its sales through the official brand website. Most sales have been direct to consumers, which is a fine way to build customer satisfaction and a fine Goodwill. Although the U.S is the primary market, the company has recently partnered with many distributors in Europe to expand its initiative to a newer horizon. And that’s not all, CycleBoard has a variety of new models in various stages of developmen.
