We advised Open Circle Capital on investing in Monimoto – a company developing a smart tracker for motorcycles. Monimoto has successfully secured EUR 400,000 during its crowdfunding campaign and from a follow-up investment by venture capital funds Open Circle Capital and Iron Wolf Capital. In total it attracted funding from 392 investors.
With the funding raised Monimoto aims to expand its product offering, scale up its team and boost the growth of the company in order to launch in new markets. This total means it has exceeded its target by EUR 100,000, helping it to fulfil its mission of stopping motorcycle theft and entering the North American market.
Developing smart GPS motorcycle tracker
Monimoto is an affordable, easy-to-use, reliable and smart GPS tracker with a battery life of a year. It cleverly sends an alert to an owner’s phone if their motorcycle is moved. Featherlight and completely wireless, it does not need to be fitted professionally, making it independent from the bike’s battery and electrical system.
We assisted Open Circle Capital in all investment-related matters. The client was advised by senior associate Vytautas Sabalys.