STARTUP OF THE MONTH
Gridlocks are daily issues in any major city, but it was a transportation sector strike which paralyzed traffic that revealed the problem that an innovative startup from Córdoba, Argentina sought to solve. After intense research, co-founders Lucas Toledo, Agustín Augustino and Eric Sevillia realized that the bicycle could be the ideal means of transportation in cities as long as its core design is also revamped- something that hasn’t changed in nearly two centuries. Their solution eventually came to be Gi FlyBike- the world’s first electric bike foldable in the blink of an eye.
Following 2 years of development and a Seed Round, the Gi FlyBike made their case to a global audience on Kickstarter and Indiegogo, where they raised an amount nearly 1000% over the original ask. As a result, by the end of the first day, Gi FlyBike had pre-sales of over $100k and crossed the $1 million dollar mark in less than six months.
With its state of the art design, international recognition followed as well. In Europe, Business Insider UK praised the company for creating one of the best e-bikes in the world and in the US, Gi FlyBike received honors from MIT’s technology magazine. Back in Argentina, president Mauricio Macri was captivated by startup and traveled to Córdoba to get out of the presidential limousine and tour the city streets in the now world-famous bike.
Gi FlyBike has offices in the United States (New York), China (Dongguan) and back home in Córdoba. Today the e-bikes are manufactured in China, with sales in forty countries around the world.
If you would like to learn to more about this startup, please refer to the information below: