Ride Colibri has secured $220,000 in funding from 6 business angels, Start-up.ro informed. With the investment, the startup plans to expand to Asia, South America, and Africa.
About the startup:
- Ride Colibri was founded by Petre Georgescu in Giurgiu, Romania, but now is is incorporated in USA. Its main product — Ride Colibri M22 is a no-fuss electric two-wheeler that allows for long rides (up to 200 km before needing to be recharged). It is equipped with up to 3 removable lithium-ion batteries, 17-inch wheels, a brushless hub motor, a powerful controller, and a comfortable suspension system.
- On October 3, 2023, Peter presented the Colibri M22 electric motorcycle to a group of five investors (referred to as ‘Lions’) on the set of ‘Shark Tank Romania’. The startup also claims that M22 can seat two people, folds up to fit in cramped spaces, and can be ridden with a standard car driver’s license.
- Ride Colibri went through several prototypes and extensive testing before the M22 electric motorcycle was ready to go into production. Now, Colibri had sold 44 fully-paid motorcycles and generated over $230,000 in revenue. It also received 240 deposit-paid reservations and had over 3,000 people on the waiting list.
The investment round was backed by six angel investor: Paul Robert Cary, Gabriela Amarie, Radu Amarie, Chris Severson, Shane Gray, and Ștefan Muscalu.
- Ride Colibri will use the fresh investment to speed up production and delivery of Ride Colibri M22 and to expand into Asia, South America, and Africa.
