Streetdog scales up, seeks investors
Hot on the heels of selling out its second release of Streetdog electric motorcycles, and after launching a wholesale capital raise campaign, FTN Motion is targeting five percent of New Zealand’s moped market. FTN Motion has brought vehicle production back to Wellington, more than 25 years after it left the region in 1997, designing and […]
Hot on the heels of selling out its second release of Streetdog electric motorcycles, and after launching a wholesale capital raise campaign, FTN Motion is targeting five percent of New Zealand’s moped market.
FTN Motion has brought vehicle production back to Wellington, more than 25 years after it left the region in 1997, designing and building the Streetdog – the first urban electric motorcycle of its kind – in the heart of the capital. Orders for its third production round are now open. They’re partnering with Catalist – a New Zealand stock exchange connecting investors and Kiwi businesses – to raise up to $3 million through wholesale investors to support their next growth phase.
Around 80 percent of FTN Motion’s customers haven’t ridden a motorcycle before, FTN Motion co-founder Luke Sinclair says, revealing a significant and new market.
“After validating the Streetdog, the time is right to scale as we prepare to enter Australia in 2024 and then Europe. Our engineers have been working hard to develop the ultimate urban riding machine, combining craftsmanship, practicality and innovation to do something completely new in the motorcycle industry.
“The wholesale raise with Catalist will help us scale production and improve efficiency – increasing capacity to make 700 Streetdogs per year for the Australian and New Zealand markets by the end of 2024. We’re operating at the intersection between two significant growth trends – electrification and micro-mobility. This is a significant opportunity for New Zealanders to back us and join us as the industry transforms,” he says.
Wellington artist Jeremy Bennett is one of FTN Motion’s early adopters that helped validate the Streetdog. He rides it to his studio every day and says it stopped him in his tracks when he first saw it on display at Wellington Airport.
“The pared-back lines and cafe racer style were incredible – and when I realised it was born and bred in Wellington, that made the experience even more satisfying. It’s a head-turner in every sense of the word and a pleasure to ride.
“Backing a New Zealand-based start-up is important to me. If FTN Motion can lead the charge for other engineers and designers attempting something similar, there’s no telling how big the collective impact will be,” he says.
Details about FTN Motion’s wholesale offer are here.
Photo: (L-R) FTN Motion co-founders L-R Saskia Thornton, Luke Sinclair, Kendall Bristow