Hello everyone! I’m Sean Hacking, Founder and CEO of Veer.
We recently hosted a webinar to keep all of you updated on the latest and greatest of what exciting things have been happening as we approach the end of 2021!
In today's investor article, I’m thrilled to discuss what we’ve been up to at Veer, and some of the plans we have going on as we bring in the new year.
New OEM Partners
We're working on some of our biggest deals to date with original equipment manufacturers, aka other bike brands.
Basically what we're doing is selling to other brands to put it on new vehicles and bikes. We sell them our Split Belt components and they assemble it onto a complete vehicle.
This is extremely critical to our growth trajectory, because we can sell thousands at a time instead of one at a time to consumers. That's been a big strategy shift for us the last few months.
Last quarter we brought on eight new OEM partners, and this quarter three more have planned on ordering from us. In addition, three brands have already placed repeat orders for the next year.
We had a total of five more brands in testing just in the last couple months, including some of the biggest ones in the world as far as e-bikes go.
First off, we have brought on a new electric moped company as a customer and we'll be shipping to them next year. This is the part of the overall strategy of really addressing the pain points in all kinds of different vehicles, not just bikes. I'm pretty excited to talk about that.
Then, we've also partnered with a new electric motor brand for e-bikes. So basically, we can package and sell and sort of market together with these folks. The company is called FreeFlow and they've got an innovative product as well. This makes it super easy to integrate onto different e-bikes and such if it's all sold together.
As far as the traction side of things, that's the big updates for this quarter
New Products in the Pipeline!
On the product side, we have a bunch of exciting things coming ahead of us. That's been part of the strategy: filling out our product line and developing some really cool and innovative stuff to move the industry forward.
We built a new installation robot for our manufacturing customers which sits on their assembly factory floor and it lets them install our Split Belts in 30 seconds flat. This allows OEMs to easily and quickly install our belt drive on the 1000’s of vehicles they are assembling. We're shipping our first one at the beginning of the new year and have many more ready for assembly.
We also put a new alignment tool into production. This is more support to make sure that our belt drive is installed perfectly every time. In addition, we’ve put two new cogs into production to fit on different wheels and different hubs to round out our product line.
We’ve also doubled our belt production rate this month as demand increases, which I'm really stoked about! The entire Veer team is looking forward to what else is in store in 2022.
Join our Investor Community on StartEngine
We hope you enjoyed this sneak preview of our webinar, for more information be sure to check out the entire recap video!
We raised over $600K in 2021, and have no plans to slow down as we enter the new year. Help us hit our next milestones and invest in Veer on StartEngine today.
The team is looking forward to a great start to the new year, and keeping you all updated on the exciting things to come.