Genoride, the world's first electric children's bike project working with generative driving technology, has been launched to share-based crowdfunding. Offering 8 percent of the company's shares to investors in the investment tour that started on the crowdfunding platform fundbulucu, Genoride's target fund amount is 4 million 650 thousand TL. If the venture company is successful as a result of the investment tour, which is open to all qualified and unqualified investors, it predicts a high rate of exit in the last quarter of 2024.
Today, there are many different types of electric bicycles on the market for adults. However, despite the need, there is no electric bicycle or battery-powered pedal vehicle produced for children. Support is still given by parents pushing from the back of the bike and holding the handlebars by hand. Genoride electric bicycle, which is a technology and production project, is completely different from traditional bicycle driving systems with its unique pedal power transmission technology, and with the system called generative driving, it now provides children with the opportunity of electric assisted driving at affordable costs. With Genoride, children can learn to ride a bike much faster than other products on the market, have fun while learning, and improve their motor skills. Parents, on the other hand, can customize the product according to their children's needs using the Genoride App, with the help of innovative features.
By 2023, the total number of electric bicycles in circulation worldwide is expected to reach 300 million, an increase of 2019 percent compared to the 200 million figure in 50. Genoride, which provides a service for children in this developing market with a high export potential for our country, is looking for investors to increase its mobility. The venture company will try to raise 8 million 4 thousand TL of funds by offering 650 percent of the company shares to the investors in the investment tour it has launched in Turkey's most active crowdfunding platform fundbulucu.
Investors will be given an additional 1% share for investments made via EFT or credit card within 21 working days as of 10.00:20 am on Monday, 25 November, the start date of the investment tour in which Gökhan Yağcı, the founding partner of the venture, will invest in his campaign via the platform with a capital of 20 million TL. Additional shares will be transferred to the investors' accounts during the distribution of shares at the Central Registry Agency (MKK). The tour will continue until January 2023, XNUMX.
It anticipates receiving orders from Europe in 2024
Genoride, which will establish its new company upon successful completion of the funding, will transfer its current financial opportunities and lease the closed area where it will carry out mass production. Genoride will go into mass production in 2023, after completing the tests and certification of its final prototype. With the production of the first batch, which will be launched only in the domestic market, it is aimed to verify the technology and to develop the product where necessary. The venture company will develop its assembly line in the fourth quarter of 2023 as a brand whose sales have been completed, its certifications have been completed and its products are actively used. While Genoride predicts that it will receive orders from Europe in 2024, it will start its global journey by partially exiting the leading companies in the sector or foreign investment funds after its second investment tour that will be launched in the same year.
Speaking about the investment tour, Genoride Co-Founder and CTO Gökhan Yağcı said, “We have determined that our own capital will not be sufficient for the realization of our planned future goals, and we have decided to invest accordingly. We also need this capital to complete product-related developments, establish mass production lines, and scale up to meet the demand in the market. Our product appeals to the end user. We have opened the way for investors to become partners in our project by choosing fundbulucu in our first investment tour, as it will contribute to us indirectly in terms of promotion and marketing by enabling our product to reach thousands of people through crowdfunding. The demand for mobility products is increasing day by day all over the world and the electric bicycle market is growing rapidly. We invite all our investors who believe in the potential of the market and our product to our campaign.”