Veer plots EV market impact with equity raise

Split belt drive brand Veer Cycle has announced that to fund its next stage of EV market growth it will turn to a crowdfunding equity raise.

The crowdfunding campaign will be launched on the Start Engine platform in a bid to raise funds that would be allocated towards boosting existing production and finalising development of its new multi-speed belt drive.

Sean Hacking, CEO and founder, said:  “Just adding more gas-powered cars isn’t going to cut it anymore. We need better ways to get around and stay healthy. That’s why we’re so excited to be making sustainable living easier with our current e-bike products, and soon to broaden access with our latest tech for all kinds of new Light Electric Vehicles.”

Targeted at the light EV market, Veer’s Split Belt Drive is intended to replace aftermarket metal chains and secure partnerships with LEV manufacturers. The technology will allow belt drive to work with existing vehicle designs, making these alternative forms of transportation accessible to more people. Veer’s carbon fibre Split Belt is as strong as a chain and allows for more efficient drive systems, meaning motors and batteries can be made smaller, lighter, and more economically.

To learn more about Veer, the benefits of the Split Belt Drive and the opportunity for equity investment during the limited-time funding campaign, visit https://www.startengine.com/veer.

The brands Youtube campaign video can also be viewed here.