FTN Motion launches equity crowdfund

Wellington electric motorcycle disruptor FTN Motion has produced 100 motorbikes and has launched an equity crowdfund to allow retail investors and customers to join its growth journey.

A retail raise through investment platform Equitise, with a target of $3 million, gives everyday investors the opportunity to be part of taking the Kiwi innovation to the world stage.

The 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 FTN’s mission since its first capital raise in 2021.

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

The Streetdog is creating a new category of design-led urban motorcycles that appeal to commuters who want 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 NZ achieve our net zero carbon emissions goals by 2050, so we’ve built an urban riding machine that not only challenges convention but also turns the everyday commute into the best part of the day.”

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

Each electric motorbike – which only requires a regular New Zealand car licence to ride – is built in FTN Motion’s Wellington workshop.

About 90% of the Streetdog’s first customers come from outside the moped market, with FTN Motion capturing 5% market share in its first year of deliveries, Sinclair says.

“We’re at the intersection of two massive growth trends; electrification and micro-mobility.

“The EV revolution has only just begun. It is an industry that will continue to grow as countries worldwide push to reduce emissions.

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

“With motorcycle deliveries now underway 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.”

FTN Motion’s target is to scale annual production capability to 700 plus bikes for local and Australian deliveries in 2024.

It 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.”

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

Click here for more about FTN Motion’s crowdfunding campaign.