LION E-Mobility extends successful, strategic investment further
Inboard Technology produces electric skateboards in Santa Cruz, California. The company established itself as one of the market leaders in the quickly growing Rideables market, due to the high quality of its first product, the electric skateboard Inboard M1, as well as due to its global sales network. Further increasing demand for electric skateboards motivates the start-up company to extend its product portfolio and to further develop the Inboard M1. The initial LION E-Mobility investment has significantly increased its value within less than half a year. This success opens up new opportunities to LION E-Mobility to cooperate strategically and to participate. LION E-Mobility invests $500.000 as part of a total capital increase of $8 million.
LION Smart is already involved in the next product development process. It is considered a long-term partner for development and production.
The company’s flagship product is the Inboard M1 premium electric skateboard, which offers unlimited range with the category’s only swappable battery. The M1’s sleek design, and powerful, rugged, dual in-wheel motors meet consumer demands for performance, reliability, and style. The M1 is also the only electric skateboard that improves over time with regular firmware updates. The most recent update delivered 40% more torque, meaning faster off the line performance and dramatically better hill climbing ability.
The partnership with Best Buy sees the Inboard M1 joining a growing category of personal electric Rideables at over 200 Best Buy locations as well as online at BestBuy.com.
The Inboard M1 is available at inboardtechnology.com, Amazon.com, more than 200 Best Buy stores across the United States and from specialty retailers in the US, Canada and Europe.
“As the adoption of personal electric Rideables become an integral part of the urban transportation landscape, Inboard Technology is ideally positioned to capture this huge opportunity,” said Kobie Fuller, General Partner at Upfront Ventures. “This team has shown how to innovate around brand, product and service, to deliver outstanding products that appeal to a rising generation of urban travelers.”