Usually when crowdfunding campaigns offer hipster bicycles or electric bicycles, they offer bikes at discounts. Estonian startup Oobik Cycles has launched a campaign to sell 5-12 percent of the company to enthusiasts ahead of its Kickstarter campaign scheduled for 2016.
So far Oobik has raised 50 percent of its 37,500 euro minimal target, with 125 euros minimal investments taken for two more weeks.
The team of 24-27 year old Estonians are working on, "the most reasonable electrical bike," and plan to, "bring it to new customers via a direct sales model with an online bike shop that helps to cut the retail price to half of the competition."
The company aims to sell at least 250 bikes during 2016, with a Kickstarter project planned for April 2016. Over the next four seasons the company aims to reach sales of 5000 bikes and reach total revenue of 2 million euros.
Market growth is fast - up to 40 percent a year - with the European market for electrically assisted bicycles topping 2 million units in 2015.
The team is clearly on a mission to "reinvent the wheel" but with cool looking bikes which are priced at roughly 30% below the market value there is definitely room to move in and find its niche.