E-bike company scaling up

An electric motorcycle disruptor is launching an equity crowdfund to allow retail investors and customers to join in its growth journey.

It follows FTN Motion making New Zealand history with a production run of 100 motorbikes and reinstating the type of automotive manufacturing not seen on our shores since the 1990s.

The Wellington-based company is scaling up local assembly capacity as well as preparing to enter Australia and Europe, backed by investors who have been on board with its mission since the company’s first capital raise in 2021. 

Now, after demand from customers and others outside the wholesale investor criteria, a retail raise through investment platform Equitise, with a target of $3 million, is opening.

FTN Motion has gone from a single prototype of its groundbreaking Streetdog motorcycle to full production in just two years. 

It is creating a new category of design-led urban motorbikes that appeal to commuters wanting to escape the mundane and reduce their daily emissions, says co-founder Luke Sinclair.

“We’re on a mission to reduce congestion and decarbonise the commute,” he adds. “We want to accelerate the transition to emissions-free transport and help New Zealand achieve our net-zero carbon emissions goals by 2050, so we’ve built an urban riding machine that challenges convention.”

The Streetdog features natural-fibre composite motorcycle fairings, 80km of battery range, a touchscreen display, alarm-activated wheel lock, regenerative braking and 30 litres of lockable storage. 

Each bike, which requires a regular New Zealand car licence to ride, is built in FTN Motion’s Wellington workshop and 90 per cent of its first customers come from outside the moped market. 

With FTN Motion already capturing five per cent market share in its first year of deliveries, Sinclair believes its growth potential is huge.

“We’re at the intersection of two massive growth trends – electrification and micro-mobility. The EV revolution has only just begun. It’s an industry that will continue to grow as countries worldwide push to reduce emissions.

“We’re bringing a fresh, design-driven approach to motorcycle development to create the most intuitive and user-friendly product on the market. We’re ready for growth.

“Our investment raised to date has been driven by our earliest supporters and we’ve allocated those funds towards recruiting industry experts, research and development, and production set-up. 

“With motorcycle deliveries now under way and a global supply chain in place, investment from this round will fund manufacturing process and tooling upgrades as we gear up for our next fully subscribed production run and our market entry into Australia. 

“Our target is to scale our annual production capability to 700-plus bikes for local and Australian deliveries in 2024.”

FTN Motion recently closed the first phase of its $3m raise with the $1m target secured through wholesale investors on Catalist.

Sinclair says: “At the time, we also received a huge amount of interest from our fans and customers wanting to participate and own a bit of the company. We wanted to open this up so all our supporters and customers could invest in our company. A retail raise with Equitise was a great way to do this”.

Equitise founder Jonny Wilkinson says FTN Motion is the type of business it looks to partner with.

“They’ve developed an innovative, customer-driven product, built a passionate community of brand advocates and are led by a team of smart, skilled professionals,” he adds. 

“These are all key ingredients for a successful equity crowdfund.” To find out more about FTN Motion’s crowdfunding campaign with Equitise, click here.

Engineers Luke Sinclair and Kendall Bristow completed the prototype of the Streetdog during the Covid-19 lockdown.

Together with co-founder Saskia Thornton, FTN Motion “seeks to change the way the world commutes by creating electric motorcycles that bring performance and a more analogue feel”. 

The Streetdog has a unique, classic feel paired with purposefully minimalist yet cutting-edge technology and layout for an exhilarating, uncomplicated riding experience. 

It’s powered by an electric 3KW hub motor with up to 80km of real-life range and a top speed of 50kph, as well as 30 litres of storage and a removable battery that can be charged anywhere there’s a power plug.

Pictured with the Streetdog are, from left, Saskia Thornton, Luke Sinclair and Kendall Bristow. To find out more, visit www.ftnmotion.com.