Trikke Tech Inc. has consolidated all its operations at a new location in Buellton and launched a crowdfunding campaign to help the company expand and introduce new products.
Previously, the company that makes three-point electric and human-powered vehicles had an office on Avenue of Flags, an assembly and testing facility on Industrial Way and a product warehouse in the Los Angeles area.
Now all three functions are located at 132 Easy St., Suite D, said Gildo Beleski, chairman of research and development and inventor of the Trikke’s patented cambering frame technology that creates propulsion through a “carving motion” similar to downhill skiing.
Using feedback from Trikke users, the company has developed upgraded three-wheel-drive electric versions for law enforcement, security patrols, golf courses and commuting as well as human-powered and hybrid electric/human-powered versions for recreation and fitness.
But production has fallen behind demand, so Beleski said the company has launched an equity crowdfunding campaign through Seedinvest to raise working capital.
“We’ve never had outside investors,” he said. “It’s always been our own money, all from cash flow. Riders who wanted to invest in my company, before, they couldn’t.
“What’s different now is average people can invest in the company,” he said. “It’s kind of a mini-IPO.”
The crowdfunding campaign will be available for a limited time and requires a minimum investment of $500, with a $1 million cap on the capital raised in a year. He also has set a minimum goal.
“If we don’t reach the minimum, we don’t take the money,” he said.
Beleski said SeedInvest is a leading equity crowdfunding platform that provides individual investors with access to prevetted startup investment opportunities.
He pointed out that it’s an equity crowdfunding campaign as opposed to a product crowdfunding campaign.
That means Trikke investors can earn dividends on their investments and, should the company sell, would realize profits from the sale.
Through a product crowdfunding, people who put in money get a product at a reduced rate, but that’s all they get, he said. If the company turns a profit, they receive no dividends; if it sells, they get no share of the proceeds.
“The people (who invest in Trikke) will become my partners,” Beleski said.
Trikke Tech is offering securities through SI Securities LLC and has filed a Form C with the Securities and Exchange Commission.
For more information about the crowdfunding campaign, visit the investment platform at www.seedinvest.com/trikke.tech.inc/series.a.
For more information about the company and its products, visit www.trikke.com or call 693-0800.