E-bikes and pedelecs are the future. According to estimates by the Bicycle Industry Association, around 520,000 electrically powered bicycles were sold in Germany alone last year, and the trend is rising. The Munich-based startup FAZUA has developed a drive system with which it intends to enter this future market this year.
E-bikes are one of the biggest mobility trends, especially among city dwellers: A healthy way to travel by bike while still arriving relaxed, no waiting at the bus stop, no need to search for a parking space. However, many electric bikes seem rather unsporty, are heavyweights due to their technology, and are also unwieldy. Anyone who has to lug their bike into their apartment to charge it knows the problem.
FAZUA This is where the Munich-based company comes in: evation A drive system for e-bikes that's fully integrated into the frame and yet completely removable. With the drive and battery removed, the bike is lightweight and can also be used as a conventional bicycle.
The startup doesn't produce bikes itself, but sees itself as a supplier to bicycle manufacturers. Marcus Schlüter (32), CFO, told Munich Startup that they are already in close discussions with five manufacturers. However, the young company isn't quite there yet: FAZUA will produce a pilot series by the summer and then aim to deliver evation by the end of December 2016. Schlüter plans to expand into Europe by 2019. And after that?
“In 5 years, we see the evation product as an established system on the global market.”
An ambitious goal, but Schlüter certainly doesn't seem like a dreamer. The market analysis seems sound, and the target set is realistic.
EXIST, SCE, Gewerbehof — The network as an accelerator
Schlüter founded FAZUA in November 2013 together with Johannes Biechele (32), Sebastian Boß (30), Philipp Kalläne (28) and Fabian Reuter (32), all students at the time. Munich University of Applied SciencesAll five founders are now permanently and full-time employees of the company, and the startup also employs one freelancer and, since the beginning of the year, two employees.
The idea for the product came from Technical Director Biechele. The enthusiastic mountain biker worked for electric drive manufacturers during his studies. The market gap was quickly identified: Existing products were too heavy, too bulky, and not stylish. Biechele wanted an e-bike that he would also buy himself. The idea was born. That was in January 2011. One year later, the funding program approved. EXIST. Looking back, Schlüter says:
“Without the EXIST scholarship, we wouldn’t exist today.”
Marcus Schlüter has since devoted himself full-time to FAZUA. Before that, he worked in a human resources department, working on strategic concepts. SCE recognized the founders’ potential and took FAZUA under his wing.
“We entered an incubator with financial support, infrastructure, and an office, and had the opportunity to build our first prototypes. What the SCE offers is simply brilliant.”,
Schlüter still raves about the SCE and BayStartUP, then still evobis, the startup came into contact with investors and business angels, and at a start-up competition with the High-Tech Founders Fund (HTGF). Schlüter:
„The network in Munich is simply excellentHere you get basic information and access to investors. This way you will make much, much faster progress than if you try to do it on your own. This is a huge advantage compared to cities where such connections do not exist.”
The next milestone in the company’s history: moving into our own premises.
"We absolutely wanted to stay in Munich. And in addition to an office space, we also needed a workshop area. Very quickly, we came across the commercial yard in the West End This was simply optimal for our young company."
With continued growth, the next move is now imminent: The space has long since become too small, and the commercial yards are fully booked. Therefore, the move is near the Siemens factory in Munich.
Speaking of large Munich companies, Schlüter believes that Munich’s economic environment not only provides an excellent breeding ground for startups, but also provides him with a personal incentive:
"Of course, you compare yourself to all the large and successful companies here in the city. We don't want to become just any company, but one that has an equally good reputation!"
“In 2016, it’s all or nothing for us!”
FAZUA appears well positioned for its next steps. Investors also believe in the young company: the startup has already raised around €3.5 million. This money opens up many opportunities, but now it's time to capitalize on them:
"2016 could be the most exciting year for us. A lot of money has already been involved. But now it's all about the big picture! Our ideas and previous work will become a market-ready product this year. That's particularly exciting and wonderful to see."
FAZUA seems to be prepared for the challenges ahead — Munich Startup will follow and report on the upcoming startup’s further steps.
