Elliptigo investment round sees firm make crowdfunding history books

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Elliptical bicycle maker Elliptigo has raised some $1,281,378 from 610 investors via StartEngine.

The figure, which the firm says places its crowd funding effort among the top ten most successful in Regulation Crowdfund history in terms of highest average investment, will now help drive an ambitious growth trajectory.

“We are thrilled with how well our Regulation Crowdfunding offering was received. This is the first time we’ve done anything related to crowdfunding, so it was really exciting to see the response from our current and future customers around the world,” said Bryan Pate, CEO of ElliptiGO. “I think the successful launch of the ElliptiGO Arc in 2015, combined with record revenue and unit sales in 2016, really helped this offering exceed our expectations. We intend to use these funds to help us achieve our goal of growing 35% year over year in 2017.”