E-folding bike manufacturer VELLO realises crowdfunding

The Austrian provider of light electric folding bicycles VELLO is aiming for a financing volume of EUR 450,000 on the crowdinvesting platform Conda, offering its investors an interest rate of up to 7.0%. The funds will be used for the purchase of bike components (80%), the roll-out in France (10%) and for the development costs of new VELLO products (10%).

The VELLO bike brand was founded by industrial designer Valentin Vodev and entrepreneur Valerie Wolff in Vienna in 2017. VELLO GmbH specialises in the development, production and sale of innovative mobility products, especially bicycles and accessories, with the aim of advancing e-mobility in major cities. The specially developed and high-quality components are assembled in Austria's first "folding bike manufactory" in Vienna. In 2019, the break-even point was reached for the first time and VELLO has been operating with a positive result ever since. Between 2020 and 2021, VELLO tripled its production and plans to increase sales by at least 40% per year in the future.

Valentin Vodev, founder and CEO as well as product designer, describes his company's vision: "We see ourselves as a driving force for the megatrend between connectivity and micromobility. With our super-light e-folding bikes, we have already been able to position ourselves worldwide as an innovative folding bike forge!"

VELLO is benefiting in particular from a strongly booming bicycle market. It is predicted that e-bike sales in the EU will rise to 6.5 million in 2025 and 30 million in 2030 (Confederation of the European Bicycle Industry / European Cyclists‘ Federation). In particular, bikes with connectivity solutions are expected to be in even greater demand in the future.

Further information on the current funding campaign is available at: https://www.conda.de/startup/vello-bike-das-faltrad/

Quelle: VELLO GmbH, conda
Bildmaterial: VELLO

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