In an interview with CyclingNews, CeramicSpeed has announced the separation of its Driven drivetrain concept from the main brand, with the curiosity becoming its own business entity under the Driven Technologies banner.
The new company will now be backed by investors through crowdfunding platform SeedInvest, where one third of Driven Technologies’ share value will be on offer.
Previously CeramicSpeed went public with a call to potential suitors to take the technology forwards. The brand previously told CI.N: “We’re actively looking for collaboration having now got through the hardest part of the process; proving that not only does the idea work, it also now shifts and has proven advantages at the top-end of the sport.”
If successful with the raise, Driven Technologies will be valued at around $3.3 million. Investors must pledge a minimum of $1,000 to participate in the raise, which runs for a further 60 days.
Jason Smith, the chief technology officer at CeramicSpeed will take the lead of the new business which will focus on delivering the shaft drive concept to market and in particular seen adorned to bikes set for the pro peloton, possibly as soon as next year. According to Smith, that should mean consumers may be able to purchase bikes with the Driven system in stores within the next few years, assuming OEM bike makers ink partnerships.
The funding raise will go toward developing the product further, recruiting engineers and to further improve the shifting capability under load – something many said would never happen, but has since been shown to work well.
All being well, Driven Technologies hopes to place a demo fleet into the marketplace alongside a rollout to professional racers. “If we could get a few wins with this bike that’ll really take things off,” Smith told the consumer portal, adding “We might also make limited edition Driven bikes for maybe 25 bikes, kind of an exclusive one-time deal.
“Then for the third six months, which leads up to that 12 to 18-month timeframe, we’ll work on manufacturing and cultivating the OEM relationships.”
CeramicSpeed Driven was first shown at Eurobike in 2018 where it stole the show’s attention with its placement in the award-winning innovations segment of the show.