E-Bike Drive Maker Fazua Gets Financial Boost
MUNICH, Germany – Fazua GmbH, a Munich-based company founded in 2013 and provider of drive systems for e-bikes has recently received USD 8 million (€ 6.8m) in a new financing round. Venture Capital Partners (UVC Partners) leads the round with participation from existing investors Bayern Kapital and others.
Fazua has said to use the funding both to drive business growth forward and to meet the strongly increasing demand for the notably light e-bike drive system. Additionally, by further investing in product development, Fazua is to strengthen its technology leadership position. Due to the high demand and its growth, the company will move into a new office with larger production capacities. Furthermore, Fazua is to expand its staff.
‘Leader in light drive systems’
Benjamin Erhart, Partner Venture Capital Partners, said “Fazua has attained a very strong and promising market position. Within the fast-growing e-bike market, its drive system is the leader for light and very light products. An increasing number of renowned bike manufacturers are choosing the evation system. We are convinced that Fazua will deliver significant added value in the coming years. We are excited to join the strong consortium of existing investors and to support the further development of the company.“
Invisible in down tube
On is drive system Fazua claims “Our drive system allows bike manufacturers to redefine their expectations regarding the design, weight and flexibility of e-bikes as the battery and motor become almost invisible in the down tube. As a result of the system’s minimal resistance, the bike boasts a natural riding feel, especially when striving for high-performance riding. Another positive aspect has been the superb feedback in the road racing bike and performance segment.
Fazua, a Munich-based company founded in 2013, set itself the goal of revolutionizing the e-bike market. With the evation drive system, the team around CEO Johannes Biechele offers a product that is specifically designed for the demands of high-performance riding and offers the natural ride feeling of a non-motorized bicycle. Notable FAZUA customers, who are selling bikes with the evation drive system include CUBE, Focus, Bianchi, Fantic and Pinarello.