Cry for help from Gleam Multi Use Bikes | NewsFiets.nu
VIENNA (AU)/EMMEN – Mario Eibl posted a cry for help on LinkedIn yesterday, targeting investors as he is about to close his company Gleam Multi Use Bikes.
Gleam was founded in 2010, after a Viennese messenger was looking for the ideal vehicle for his daily work. Mario Eibl, a passionate cyclist and technical expert with start-up experience, therefore decided to start the development of his very first Gleam prototype. The result was a cargo bike with electric drive, which is as manoeuvrable as a two-wheeler, with the load capacity of a car trunk. The specially developed ‘Multi Use Bike’ offers various constructions on the loading floor that can be exchanged or dismantled in seconds. In this way, not only goods or tools, but also children and animals can be transported. Over the years, the Gleam Cargo eBike won several competitions and awards, such as the Urban Innovation Challenge of Forum Alpbach.
With Gleam, Eibl says that it not only focuses on driving comfort, safety and riding pleasure, but also wants its individually adaptable bicycles to become a real alternative to conventional vehicles. He is convinced that CO₂ savings and alternative mobility concepts are the future. In the first 6 months of series production, a turnover of € 500,000 was already achieved and Eibl expects to make several thousand e-bikes per year.
Gleam produces in Emmen at Technologies Added.
An interesting detail is that Gleam has the cargo bikes assembled in the Netherlands. To this end, they have entered into a partnership with Technologies Added in Emmen. The distribution of the Cargo e-bikes is also arranged from Emmen. Eibl is charmed by the Netherlands because, according to him, it is a real cycling country where consumers are open to new concepts. Moreover, Eibl sees the Netherlands as a pioneer in the field of strict environmental legislation, which plays into the hands of manufacturers of sustainable alternatives. “We have nothing to do with China and we are not going to invest in our own factory. The solution that Technologies Added has come up with is ideal for us, we can share a factory with other companies,” Eibl said in an interview with the Dagblad van het Noorden in 2019. The far-reaching digitization of Technologies Added and Emmen as a central location in Europe are factors that clearly played a role in his choice for the Netherlands.
We need €75,000 in the short term, €150k through October and at least €500k to keep producing and €3.0m to break even
Last weekend, Eibl suddenly posted a cry for help on his LinkedIn account in the hopes of reaching interested parties who could help keep him afloat on Gleam Multi Use Bikes. The content speaks for itself.
“Is this the end of GLEAM Multi Use Bikes? Are you ready to support zero-emission mobility and help us survive and grow? We only have a few days left before we have to close our business!
Our team built a small batch production of 300 eBikes to test our core tilting technology and shipped to EU, UK, Asia, Australia, Africa. Now we have a few more days to convince the Austrian court that we have new investors on board to buy stock/IP/assets and help us grow the company to break even.
We need €75,000 in the short term, €150k through October and at least €500k to continue production and €3.0m to break even.
We are open to a capital increase, the purchase of up to 100% of the shares or a share transaction
The micromobility market is a $260 billion market according to McKinsey and we have 4,000 bikes in the pipeline and €500,000 of parts in stock plus finished bikes and used bikes. The best new strategic partners would bring a network in production, purchasing, sales, service. As shareholders, we have invested over €2.0 in the company and I personally worked in the company for over 10 years and only took a total of about €50k in salary during that time. I don’t want that investment to be wasted!
My kids call GLEAM their little brother, because that’s the only way they know me. But I’m glad they’re proud of what we’ve achieved as a team, because they know we’ve worked hard to reduce carbon emissions and reduce global warming and that bicycles are the future of urban transport!
We are open to a capital increase, the purchase of up to 100% of the shares or a share transaction if you are a listed company. A convertible loan/SAFE agreement is also possible. Our valuation for 2021 was €5.0 million and was recently increased to €9.0 million.
Make us an offer, because we’re talking days, not weeks
But we are open to discuss any new terms under the current circumstances. Make us an offer, because we’re talking days, not weeks. We now know how to scale, what works and what doesn’t. We know how to reduce assembly costs to a quarter of what we had in the past and our technology can be scaled to higher speeds such as S-Pedelecs, 20mph US market products or L2e-U/Throttle only versions.
Our collaboration with the Vienna University of Technology was the basis of our vehicle dynamics simulations and we have two granted patents and are ready to file new ones with the know-how of our team, which has a background in the bicycle and motorcycle industry.
Please share with your network and help us close that next deal with a strong new partner and help me succeed with that business and zero-emission urban mobility. I still believe that we need to move away from dependence on oil and gas and achieve a personalized mobility experience that is exciting, efficient and cost effective. Thank you to all team members, investors, customers, suppliers and partners who believed in us so far! We couldn’t have done that without you! And especially thanks to my wife and children who have given me the strength to succeed for so many years!”
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2023-07-23 20:58:08
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