Startup Daily | Aug 2021
Perth e-bike Startup Tiller Rides spins $550,000 raise in 24 hours from crowdfunding.
A Western Australian startup dubbed “the Tesla of e-bikes” has raised more than $550,000 in the first 24 hours of its crowd-sourced funding (CSF) campaign
Perth-based Tiller Rides has smashed the average investment size on the CSF platform Birchal, at $7,639 per investor, around $6000 more than most raises.
It also marks the 100th successful raise for Birchal, with co-founder and MD Matt Vitale saying that the new financial year was off to a flying start, with 14 deals already funded.
“What a brilliant company to pass this significant milestone of 100 successful raises – Tiller is representative of a new breed of businesses fuelled by everyday Australians creating companies that will make us proud on a global stage – shaping a future we all want to see,” he said.
“Tiller Rides has wowed investors with many calling it the Tesla of e-bikes due its game changing features. Investors are attracted to its potential impact on the global $23b e-bike industry. We have been blown away by the very high average investment, one of the highest in Birchal’s history with $7,639.”