Another reason to celebrate: We are backing core elements!
by Adina Weiler, Associate, First Momentum Ventures
Did you know that Karlsruhe is not only the birthplace of our investment firm First Momentum Ventures, but also of bicycles? Two-hundred years ago, the Karlsruher inventor Karl Drais, invented the earliest form of a bikes, the draisine.
Now, we backed the startup core elements and invested in the future of bicycles.
core elements develops smart bicycle accessories and components. In their current initial business phase, they plan to focus on anti-theft protection for bicycles with selected IoT applications. Currently, the bicycle industry has no standard for GPS tracking and IoT functions. core elements will close this gap.
Their add-on system for smart and connected bike components can be easily fitted to standard bike designs. The startup utilizes the previously unused space in the steerer tube of bicycles, which makes their system installable in almost every bike. core g is a fully integrated GPS / GSM communication unit for almost every bike. The dedicated app works for normal bikes, e-bikes and pedelecs, and offers additional benefits as well as an flexible structure, that is open for future cooperation partners. The users can deposit insurance information, order spare parts to optimize the bike, arrange service with the nearest dealer and have their individual bike data with them at all times. While their patented (pending) application is designed for bikes, but can be expanded to other forms of individual mobility (e.g. scooters, motorcycles) as well.
The founding team consisting of Wolfgang, Andreas and David. All of them have a huge passion for cycling and their own product. Wolfgang is a passionate mountain biker, who participated in and organized various competitions, over the years. For Andreas his bike is also a daily companion. David is passionated about smart components and products. The athletic, agile founder-team works hard to gain further market access and develop, design and market their innovative products.
As a pre-seed investor, we help your startup to gain its first momentum by backing you with a first investment as well as world-class mentoring, a strong community, and the required know-how. Read more at firstmomentum.vc, stay up-to-date with our newsletter or get in touch through Twitter, Facebook or LinkedIn.
