Crowdfunding Update: Faraday Pulls In $187K for Cortland Step-Through, Propella Ahead Of Its Goal at $46K

BY Cameron Newland
Faraday Step-Through Electric Bike

San Francisco-based electric bicycle company Faraday has succeeded in raising $187,821 in a Kickstarter crowdfunding campaign for its Cortland step-through electric bicycle.

The crowdfunding campaign included some attractive discounts on Cortland models as well as some new options including GPS tracking and an auxiliary battery, and the success of the campaign could help provide some more visibility and momentum to Faraday going forward. Though Faraday began life on Kickstarter, it has rapidly increased the size of its dealer network over the last few months, which may help the company build a more sustainable revenue base.

Seattle-based Propella finding success on Indiegogo

Propella Electric Bike

Propella Bikes is selling simple, lightweight single-speed electric bikes that compete with the Sondors Thin and the Easy Motion Easy Go line. They’ve passed their $40,000 crowdfunding goal and are looking to add to their sales over the remaining 17 days of the campaign. The campaign perks are in the $599-$799 range (shipping not included), and though the $599 perks have sold out, there are still 38 bikes left at the very attractive $699 price point that aren’t spoken for.