Lithuanian extreme performance electric motorbikes Neematic have raised 200,000 euros seed investment from Practica Seed Capital, a fund managed by Practica Capital.
Practica said it was the first VC investment in automotive industry startup in the Baltics. Estonia’s CoModule raised in June 2015 500,000 euros from German VC firm High-Tech Gründerfonds, and another Estonian auto-industry startup Autobahn has raised 550,000 euros, but not from VCs.
The first version of the bike – FR/1 – offers top speeds of 100 km/h, and a range of 50-100 km.
“We wanted to create a top performance e-bike for rough terrain. Most importantly, we’ve been able to integrate the motor in the frame and remove unsprung mass in the rear wheel. It is this weight distribution alongside the bike’s immense torque that puts Neematic at the frontier of high-performance e-bikes,” said Domas Zinkevicius, co-founder and chief engineer.
Initial design and engineering for the bike was commenced in early 2014, with Neematic then being established in 2015. Neematic is to launch a pre-order campaign for FR/1 next year and has a limited number of bikes available for early adopters this fall.