India’s First Crowdfunded Electric Bike Spero is Set to Electrify Again!

by September 3, 2016 0 comments

After a blockbuster first round of crowdfunding, the Spero E-Bike is back, on popular demand! The SPERO E-bike is ready to revolutionize the way we look at personal travel. Coimbatore based jute machinery technocrat S. Manikandan launched the Spero E-Bike a few months back on the crowdfunding platform, Fueladream.com and received an amazing response. The first campaign raised 38L INR -125 percent of its goal with 100+ bookings from across the country.

S. Manikandan, the 38-year old MBA, has been working on this project for more than 3 years and just launched his 2nd crowdfunding campaign on Fueladream – the Bengaluru based crowdfunding platform, which curates and presents unique ideas and innovations of this kind. Besides just contributing to this project, the Funders can pre-order the SPERO E-bike through Fueladream.com.

Ranganath the Founder of FuelADream said, “The E-bike campaign set new benchmarks in the crowdfunding space in India as there were doubts that a product that costs between INR 30 K to 48K would get funded so successfully. This campaign has been a trendsetter and will generate more innovation from inventors in India as they embrace the concept of crowdfunding.”

Commenting on the response received by SPERO Manikandan, the MD of Milltex Engineers said, “Lots of people came up to contribute even Rs. 100 as a token amount, because they were so excited about the idea. The best feedback came from an old farmer who called me and said his son gifted it to him. He said his son would never have bought it unless he liked it. The experience I gained through years in the factory has given us the knowledge and expertise with handling machinery and sourcing materials that work best with this e-bike. We’re delighted to have built a high-quality e-bike, that is finding such acceptance through the crowdfunding model. The 2nd round of crowdfunding will benefit those Funders who will gain confidence from the success of the first.”

The bike has been developed by a mix of locally sourced materials and local ingenuity, and key imported components – the battery comes from Samsung, the motor and tyres come from partners in Korea.

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