- $6M+ In Total Revenue Since Inception in 2012
- 54% Gross Profit After Production
- Amount raised:
- Seed :
Why Barbara Corcoran Invested In us
"... Having invested in dozens of companies, what attracted us to EVELO was a combination of 3 things. First, the experienced team that has worked together for years prior and has the know-how to take the business from a startup phase to a fast-growing, profitable organization. Second, traction - with over $6M in sales to date, they're proving market validation. And third, the product itself – we believe that EVELO has developed a line of very innovative products that seem to be resonating with consumers ..."
Phil Nadel - Managing Director, Barbara Corcoran Venture Partners
How people are moving around their cities is going through a dramatic change today. We believe more and more people are moving into dense urban areas. With services like Uber, Zipcar and Turo, owning a personal car is becoming less necessary. With the bicycle infrastructure on the rise in major cities across the U.S., we believe people are looking towards alternative modes of transportation. The electric bicycle represents a perfect vehicle to enable millions of people to get around more efficiently.
We design, develop and distributes electric bikes for all purposes. Consumers are increasingly choosing electric transport options, leading to global e-bike sales estimates of $15B+ in 2016, with significant growth in the North American sector. We believe that we are at the forefront of innovative technology with well-built products, and an innovative direct-to-consumer distribution model allowing lower prices and higher margins – resulting in $6M+ of products sold and shipped since inception in 2012.
**Disclaimer: The individual above was not compensated in exchange for their testimonials. In addition, their testimonials should not be construed as and/or considered investment advice.
We believe electric bikes are booming in popularity all over the world. From the rapidly growing “baby boomer” demographic who now have easy access to exercise and freedom to daily commuters looking to shorten their time spent (not to mention reduce sweat) getting to and from the office, electric bikes simply make sense.
Consider the money consumers would save by replacing some car trips by using electric bicycles as their means of transport. It would mean no money spent on gas, no time and money spent on parking, no time spent sitting in traffic, and less money spent on car maintenance — not to mention the health benefits that come from being more active.
Each EVELO bicycle has a small motor and battery integrated into the design. It looks and feels just like a regular bicycle – but with a bit of magic baked in. As you start pedaling, the bikes sense how hard you are working and will give you just the right amount of boost. Consumers can bike up steepest hills as easily as they would be biking downhill. And they can go faster too – as much as 50% faster than a regular cyclist, which means that they can cut down their commute time significantly.
Recently, we have also released a new innovative product called the Omni Wheel - which enables our customers to convert any traditional bike into electric in just 20 minutes, with no technical skills required, and at a fraction of the price.
The Omni Wheel is designed to fit practically any bicycle or lifestyle. Whether you have a cruiser, an urban city bike, a recumbent, or anything in-between, once you install the Omni Wheel, your bike becomes an electric hybrid.
Omni Wheel complements the consumers' own pedal power. With a throttle providing power on demand, the consumers can pedal as much or as little as they want – while always having the power from the wheel available at the push of a button.
But even this is just the beginning, due to our direct-to-consumer business model, we believe we are able to do things that have never been done in the bike industry in the past.
To further serve our customers, in 2017, we plan to roll out a series of additional value-add monthly services, such as Theft Protection, Worry-Free Maintenance, and Online Wellness Coach. Offered at a monthly fee, these services can change the relationship with a customer from a one-off transaction to an ongoing relationship which also creates additional, recurring revenue streams for the company.
“I have had my EVELO Aries bicycle now for two months and have put 251 miles on the bicycle. I love the bicycle so much. It handles beautiful and gives me tons of enjoyment.” - David C.
“Well, I just turn over 400 miles on my new EVELO, and I am very impressed! Here in Oregon, we have a few hills. There are no hills in the area that I can't climb effortlessly with my EVELO."-Fritz B.
“Every time I ride my EVELO bicycle, I can't help smiling. No more huffing and puffing and standing up on the pedals to get to the top of a hill. It's like someone is magically pushing the bike and taking all of the work out of riding and just left a whole lot of fun. Sometime,s I don't even use the motor at all. It's up to you how much effort to use when riding the EVELO bicycles.” -Ronnie
“What a bike dream come true! I'm a 69 years old male with emphysema and live in the hills of western Pennsylvania....This bike is solid construction and everything about this bike is top quality.”-Thomas W.
4.9/5.0 Overall Satisfaction Rating, based on 109 Ratings from Actual Customers on Shopper Approved.
**Disclaimer: The individuals above were not compensated in exchange for their testimonials. In addition, their testimonials should not be construed as and/or considered investment advice.
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 email us at firstname.lastname@example.org. Please include your name, the company's name, the amount, the investment number, and the date your made your investment.
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.