SmartHalo crowdfunds an additional $1 million for smart biking device

Betakit | | June 13, 2019

smart halo 300x198 - SmartHalo crowdfunds an additional $1 million for smart biking deviceMontreal-based SmartHalo, a smart biking device developer, has successfully crowdfunded $1 million for the second generation of its product on Kickstarter.

“It made sense to return to Kickstarter after the success of the first SmartHalo campaign,” the company wrote on its Kickstarter page. “It’s a great platform for us to share our vision and receive the support needed to bring it to life. Crowdfunding allows us to give back to our community by giving our fans the opportunity to get the new SmartHalo first and at a discounted price. It’s a winning solution for everyone.”

SmartHalo2 is a connective device that allows riders to track cycling metrics, sync that data with fitness apps, and find new routes with navigation signals. It is water-resistant and comes fitted with an anti-theft alarm and a front light. Arguably its most recognizable new feature is PeekDisplay, which complements the product’s Halo display to provide more visible information to the rider.
“We see a huge opportunity in cycling. Not necessarily for sports, but for mobility,” said Xavier Peich, CEO and co-founder of SmartHalo. “Cities are investing in better infrastructure, while increasingly limiting car access and parking to downtown cores. This is a huge trend that is coming to Canada sooner than we think.”

CS2016 Throwback:  Smart Halo CEO and Co-Founder, Xavier Peich, wins NCFA live pitching session 1

smart halo wins NCFA live pitching session - SmartHalo crowdfunds an additional $1 million for smart biking device

SmartHalo, formerly known as CycleLabs Solutions Inc, was founded in 2014 by Peich, Gabriel Alberola, Maxime Couturier, and Olivier Bourbonnais. In 2015, the company launched its first Kickstarter campaign, resulting in over 3,000 community pledges and raising half a million dollars. In 2016, the company raised a $328,000 angel round, and has been backed by Fonds Innovexport since 2017, a Quebec-based fund that also backs the likes of cloud software company, AlayaCare.

In the second half of 2017, the company struck a deal with Apple, distributing the SmartHalo device in Apple stores across North America and Europe. Peich said SmartHalo is both the first Kickstarter project and the first Canadian hardware company to launch at Apple. Since then, the company has delivered 25,000 units to cyclists in over 70 countries. Peich told BetaKit the company expects to raise a Series A sometime this year.

The company participated in The Next36’s 2016 Venture Day, where Peich was recognized as a Next Founders Valedictorian. The company also advanced to the finals of the Startup Community Awards in 2017, placing in the top three in the Startup Champion of the Year category.

Continue to the full article --> here


NCFA Jan 2018 resize - SmartHalo crowdfunds an additional $1 million for smart biking device The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - SmartHalo crowdfunds an additional $1 million for smart biking deviceFF Logo 400 v3 - SmartHalo crowdfunds an additional $1 million for smart biking devicecommunity social impact - SmartHalo crowdfunds an additional $1 million for smart biking device
NCFA Summer Kickoff Event Jul 11 banner resize - SmartHalo crowdfunds an additional $1 million for smart biking device