India’s first crowdfunded electric bike

The SPERO E-bike is ready to revolutionise the way we look at personal travel. Coimbatore based jute machinery technocrat S Manikandanlaunched the SperoE-Bike a few months back on the crowdfunding platform, Fueladream.com and received an amazing response. Both the campaigns raised more than INR 55Lakhs+ with more than 140 bookings from across the country.

S Manikandan, the 38-year old MBA, has been working on this project for more than 3 years & just launched his second crowdfunding campaign on Fueladream– the Bengaluru based crowd funding platform, which curates and presents unique ideas and innovations of this kind. Besides just contributing to this project, the Funders can pre-order the SPERO E-bike through Fueladream.com.

Ranganath the Founder of FuelADream says, “The E-bike campaign set new benchmarks in the crowdfunding space in India as there were doubts that a product that costs between INR 30 K to 48K would get funded so successfully.

This campaign has been a trendsetter and will generate more innovation from inventors in India as they embrace the concept of crowdfunding” Manikandan, the MD of Milltex Engineers says, “The response has been remarkable from our first campaign.

Lots of people came up to contribute even Rs. 100 as a token amount, because they were so excited about the idea. The best feedback came from an old farmer who called me and said his son gifted it to him. He said his son would never have bought it unless he liked it.

The experience I gained through years in the factory has given us the knowledge and expertise with handling machinery and sourcing materials that work best with this e-bike. We’re delighted to have built a high-quality e-bike, that is finding such acceptance through the crowdfunding model. The second round of crowdfunding will benefit those funders who will gain confidence from the success of the first.”