Australian smart helmet maker Forcite has attracted $6 million from investors and crowdfunding as it prepares to launch the Forcite MK1S, an updated version of its first smart helmet, in the coming months.
There is still a little time to invest in this growing small business – more information.
Forcite plans to use this investment to develop more smart bike technologies, electric motorcycles and bring the world’s first legal smart helmet to EU and US markets.
Here is the full press release
Forcite hits full throttle with $6M Series A raise and equity crowdfunding
Motorcycle tech leader excites investors with smart helmet and intense consumer demand for new Forcite MK1S
Sydney, Australia February 10 Sydney-based motorcycle tech start-up Forcite is set to raise a total of A$6 million. Forcite has achieved this through a Series A funding round led by Uniseed through new and existing shareholders to fuel the development of the next generation of Forcite motorcycle technology and accelerate global expansion. This raised $4.6 million through a Series A preferred stock offering.
To complement Series A, Forcite has opened an Equity crowdfunding campaign through Equitise to offer customers, subscribers and early adopters an opportunity to invest. Currently, $920,000 has been raised through the Equitise campaign, in addition to Series A and with one week until its close on February 15.
Founded in 2013 following a motorcycle accident involving founder and CEO, Alfred Boyadgis, the company aims to deliver a safer and more dynamic riding experience with the Forcite MK1 smart motorcycle helmet. The world’s first ECE 22.05 certified smart helmet, the MK1 quickly sold out whenever build slots became available. Today, 1,380 riders are experiencing the Forcite MK1 on the road and over 14,000 potential customers have expressed interest in Australia, USA and Europe. The new and improved MK1S will be available soon, with several upgrades based on feedback from existing users. The motorcycle technology company also has a number of joint venture collaborations with global motorcycle manufacturers to integrate smart technologies into bikes.
Co-founder and CEO Alfred Boyadgis said: “Thanks to feedback from riders across Australia, Forcite has created a more dynamic, exciting and safe riding experience through our smart helmet technology. Our expert team of designers, developers and engineers are also motorcycle enthusiasts who use Forcite technology daily so they can constantly test, learn and make iterative improvements after every ride. They do have their fingers on the pulse. With this venture capital and crowdfunding investment, we are expanding globally and building our R&D pipeline for the next generation of Forcite motorcycle helmets and bike technologies.
Natasha Rawlings Investment Manager at Uniseed said, “Forcite has positioned itself as a market leader in the motorcycle technology industry with a loyal and rapidly growing customer base. We strongly believe in Forcite’s strategy of providing category-defining products and a community-centric business approach. They think way beyond the motorcycle helmet category and have the support of the automotive industry to go there.
Forcite’s community outreach is part of the company’s DNA, from crowdsourced design improvements on Forcite products and software to sponsorship of popular motorcycle races. This meant a natural fit when it came to using equity crowdfunding. The offer was a way to facilitate several years of demand for an investment opportunity from followers and early adopters of Forcite.
Co-Founder and CEO, Alfred Boyadgis, said: “The success of Forcite is due to the involvement of the motorcycling community who have been with us every step of the way, providing invaluable feedback during product development. Our crowdfunding is another way to foster this partnership with runners. »
With a further injection of capital, Forcite is now poised to capitalize on the boom in the motorcycle and outdoor and leisure equipment sector driven by the COVID-19 pandemic and resulting lockdowns.
The motorcycle industry in Australia and around the world is growing steadily year on year, with the global market for equipment and accessories at $35 billion and a CAGR of 7.2%. Boyadgis says Forcite currently has a competitive edge in this area of wearable technology.
The Forcite team has grown rapidly over the past year to 18 full-time employees, 60% of whom are riders.