Monday Motorbikes, the Bay Area electric bike brand best known for its M1 electric moped that did more than $200,000 of sales on Kickstarter a few years back, has just announced that the company is raising a crowdfunded equity round of up to $1 million on StartEngine.
“We are so excited to offer our fans the opportunity to invest in our company,” said co-founder and CEO Josh Rasmussen. “We launched on Indiegogo, where we met many of our first fanatical fans. It’s such an honor to share our passion for two-wheels with people around the world, and we look forward to our next chapter of success bolstered by our customers and fans.”
The announcement follows the success of ebike maker Sondors’ successful crowdfunded equity round, which brought in $1.2M for the Malibu, CA company.
From a product standpoint, Monday Motorbikes has definitely had a strong start. Their M1 motorbike is styled after 1960s and 70s cafe racers and mopeds, with an edgier, more modern appearance, and customers have shown quite a bit of affinity for the brand, ordering hundreds of thousands of dollars worth of the retro-styled bikes, and many of the orders came from buyers who hadn’t even gotten a chance to take the bike out on a test drive. I’ve taken a spin on an M1, and though the experience is certainly very different from the pedal-assist bicycles that I’m used to, the more powerful M1 feels familiar, capable, well-built, and very well suited to being a daily-driver.
Considering the strong sales of the M1 electric moped, the outsized media coverage that the brand has received, and the growing market category that they operate in, Monday Motorbikes looks like a strong contender to succeed in its second crowdfunding round. For those of you who are chomping at the bit to own a piece of the electric vehicle startup, you’ve got less than 90 days to buy in.