Monimoto is a smart GPS tracker with a year’s battery-life that alerts your phone if your motorcycle is moved.
Light, and wireless, it doesn’t need to be professionally fitted, making it independent from the bike’s own battery and electrics. Now the maker of the tracker has secured €404,400 funding from 392 investors.
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With the funding raised, Monimoto aims to expand its product offering, scale its team and boost growth of the company to launch into new markets. This total exceeds its target by 134% to help fulfill its mission of stopping motorcycle theft and entering the North America market, giving global access.
Andrius Bruno Rimkūnas, co-founder of Monimoto, comments: “For the past five years, the rates of motorbike theft in the United Kingdom have been on the rise.
“With 40,000 thefts a year, a motorcycle owner in England or Wales faces a 3.3% chance their bike will be stolen in the next year.”