Crowdfunding is the new thing for everything, these days–even motorcycles. Arc, a British startup, is using crowdfunding to get its electric motorcycle into production.
This funding isn’t the same as the platforms you’re probably familiar with; “Crowdcube” is an equity-based platform for crowdfunding. Instead of paying for a product or part of a product your investment is just that, and you’ll get a share in the business. Similar to other company crowdfunding, and investing for that matter, though, this means there is a chance that investment could end up being worthless.
Arc, which is careful to call itself “a team of ground breaking British designers and engineers pioneering electric machines,” aims to expand into a new manufacturing facility in St Athan, South Wales, in which to finalize the development of their new limited edition electric motorcycle. They will expand into this 65,000 sq-ft facility to work on getting their concept into production. The Vector is expected to retail for £90,000.
The CEO of Arc is Mark Truman, and he had this to say: "Since launching the Arc Vector just 16 weeks ago we have been overwhelmed with how positively it has been received by global media, prospects and investors alike. To date we have received over 100 expressions of interest from prospects and we’re now opening up ownership of our transformative business in a similar way to the community ownership model made famous by the likes of Barcelona Football Club. So, whether you’re a motorbike aficionado, a seasoned investor, tech enthusiast or just someone who is passionate about the environment, this is a unique opportunity to join the Arc family and help accelerate our journey towards being an established global leader in the field of electric, recreational and luxury mobility.”
According to the Arc website, the group will only make 399 of these machines, which have a published charge time of 40 minutes with a 436km (270 mile) range and a 220kg (485 lb) weight.
The Crowdcube funding site will go live on May 6th. Are you ready to invest?