EVELO produces and distributes a line of beautiful, efficient and smart electric bicycles that make cycling accessible to everyone.
With a direct-to-consumer distribution model and a growing network of Ambassadors (existing customers), EVELO has started on the ground floor of a new industry and is growing quickly ($1.05M in revenue over the last 6 months; 87% revenue growth in 2014 over 2013).
Our customers range from commuters to baby boomers to families and everybody in between. The electric bicycle opens up opportunities to become more active, spend time outdoors, and go further and faster.
When riding one of EVELO electric bicycles, it makes hills feel flat and distances shrink, so you can cycle just about anywhere regardless of age, fitness levels or terrain.
To see our line of products in action, check out http://www.evelo.com and http://omni.evelo.com. To see what our customers have to say about us, take a look at http://www.shopperapproved.com/reviews/evelo.com/
It all started with a common problem.
Back in 2011, one of the co-founders - Yevgeniy Mordkovich - was on a quest to find a solution to enable him to spend more time biking with his wife. As many couples discover, their different fitness levels and body strength made it hard for his wife to keep up on the hills and on longer bike rides.
To fix the problem, he researched and built a hybrid electric bike from scratch. By having power-on-demand – either on a hill climb or when a rider is simply a bit tired – the scales were equalized, allowing both of them to ride and spend quality time together.
In the meantime, his brother (and co-founder), Boris Mordkovich, was helping to launch the world’s first person-to-person car sharing startup in Boston and San Francisco. This startup went on to raise $30M+ and expand nationwide.
While doing so, Boris acquired first-hand experience with a growing segment of the population looking to move away from car ownership towards alternative transportation. When he saw the electric bike prototype that his brother, Yevgeniy, had built, the idea that became EVELO took form in Boris’s mind.
Electric bikes represent something tremendously special. They open doors for a whole range of people -- cyclists of an age where a regular bike is too challenging, commuters who want to zip past traffic without working up a sweat, those wanting to ride further or up hills, people looking for non-car options for short errands, even those who have never ridden a bike. Electric bike riders get on the bike and enjoy every minute of it, all while providing a real alternative to car ownership that lets people travel city miles quickly and efficiently.
With two previous successful startup launches over the last 10 years (and subsequent acquisitions) under their belt, collective experience in the transportation and technology sectors, and a successful track record in digital marketing, Boris and Yevgeniy decided to start EVELO, a bike company committed to modernizing the bike industry and making it easier for people to get a beautiful, well-designed electric bike and start riding!
Frequently Asked Questions
When you complete your investment on SeedInvest, your money will be transferred to an escrow account where an independent escrow agent will watch over your investment until it is accepted by EVELO. Once EVELO accepts your investment, and certain regulatory procedures are completed, your money will be transferred from the escrow account to EVELO in exchange for your shares. At that point, you will be a proud owner in EVELO.
Preferred equity is usually issued to outside investors and carries rights and conditions that are different from that of common stock. For example, preferred equity may include rights that prevent or minimize the effects of dilution or grants special privileges in situations when the company is sold.
A convertible note is a unique form of debt that converts into equity, usually in conjunction with a future financing round. The investor effectively loans money to a startup with the expectation that they will receive equity in the company in the future at a discounted price per share when the company raises its next round of financing.
To learn more about startup investment types check out “How to Choose a Startup Investment” in our academy.
To make an investment, you will need the following information readily available:
- Personal information such as your current address and phone number
- Employment and employer information
- Net worth and income information
- Social Security Number or government-issued identification
- ABA bank routing number and checking account number (typically found on a personal check or bank statement)
Because EVELO is offering its securities under Rule 506(c) of Regulation D, your status as an Accredited Investor will also need to be verified and you will be asked to provide documentation supporting your income, net worth, revenue, or net assets or a letter from a qualified advisor such as a Registered Investment Advisor, Registered Broker Dealer, Lawyer, or CPA.
Until a closing occurs, you may cancel your investment at any time, for any reason. You will receive an email when the closing occurs and your shares have been issued. If you have already funded your investment and your funds are in escrow, your funds will be promptly refunded to you upon cancellation. To cancel your investment, please go to your portfolio page.
Currently there is no market or liquidity for these shares. Right now EVELO does not plan to list these shares on a national exchange or another secondary market. At some point EVELO may choose to do so, but until then you should plan to hold your investment for a significant period of time before a “liquidation event” occurs. A “liquidation event” is when EVELO either lists their shares on an exchange, is acquired, or goes bankrupt.
You can return to SeedInvest at any time to view your portfolio of investments and obtain a summary statement.
This is EVELO's fundraising profile page, where you can find information that may be helpful for you to make an investment decision in their company. The information on this page includes the company overview, team bios, and the risks and disclosures related to this investment opportunity.
This investment is highly speculative and should not be made by anyone who cannot afford to risk the entire investment amount. In addition to these risks, you should carefully consider the specific information and risks disclosed in EVELO’s profile.