GeoOrbital

GeoOrbital’s wheel converts any standard bicycle into an electric bike in 60 seconds.

Its wheel replaces a bike’s traditional front wheel. Essentially, its wheel is a futuristic vehicle propulsion system capable of powering bikes at speeds of 20 miles per hour.

As Yahoo! Finance noted, GeoOrbital “Beautifully executes its mission: turning the bike you already own into a superbike.”

Some investors may be familiar with this startup already. It completed an equity crowdfunding round in 2017, and Crowdability featured it in its July 2017 issue of Private Market Profits.

During its previous funding round, GeoOrbital raised more than $1 million at a $10 million valuation. Since then, the company has made significant progress. It's built the second generation of its wheel, secured its first patent, and deployed its product with police departments across the U.S.

Now, GeoOrbital is conducting a second equity crowdfunding round, this time at a $15.4 million valuation. It will use funds raised to increase sales and finish development of its third-generation wheel.

The electric bike is the world’s most popular electric vehicle. More than 35 million were sold in 2015 alone. By 2025, electric bike sales will surpass $24 billion.

These bikes have several benefits. They’re good for the environment, help people stay active, and help cut down on congestion and traffic, particularly in urban areas. This last benefit is especially important, as 68% of the world’s population is projected to live in cities by 2050.

But electric bikes can be expensive and burdensome.

GeoOrbital’s wheel, in contrast, starts at less than $1,000, and fits more than 99% of all full-size standard bicycles in the world.

The company’s product is an orbital wheel with no center. Rather than spin as a result of being connected to a central axle or “hub,” the wheel “orbits” around an empty area. GeoOrbital was issued its first patent for this innovation in September 2018.

Its wheels install in 60 seconds with no tools required, and feature a USB outlet so riders can charge their phones or speakers.

GeoOrbital began selling its wheels in 2016. In 2017, its first full year of sales, the company generated $2 million in revenue.

All told, the company has sold more than 3,000 wheels direct-to-consumers and through partnerships with retailers like BestBuy.

Most recently, GeoOrbital introduced its second generation wheel. Compared to the original model, this wheel has a more powerful motor, longer-lasting battery, and works on all terrains, not just pavement.

Moving forward, the company is creating a wheel for European customers who have different preferences for motor power and battery size.

In addition, it’s creating wheels for wheelchairs, and a flat wheel that will be used to power bike-share, delivery, and other commercial applications.

Team Background

Mike Burtov - Founder & CEO

Mike has 15 years experience in start-ups.

Before GeoOrbital, he was the Founder and CEO of 3 companies and was most recently the founder and CEO of Cangrade, a hiring platform from 2011 to 2014.

Mike and his work have been featured in hundreds of publications worldwide, from Forbes to Time Magazine.

He was named “One of the top Inventors of 2016" and one of the "most dynamic and creative people shaping business today" by the Upstart Business Journal.

He earned his BA from Brandeis University, and his Masters in International Economics from Southern New Hampshire University. He also served 2 years as a Peace Corps volunteer.

Dakota Decker - CTO

Dakota comes to Geo Orbital with many years of experience as a development engineer with SpaceX, where he worked from 2009-2015.

SpaceX is one of the most innovative and future-focused engineering companies in the world. SpaceX helped him develop a wide array of skills and problem-solving abilities which are crucial to helping make a startup succeed.

Dakota earned his master’s degree at the age of 19 and declined an invitation to pursue a PhD so that he could build rockets with SpaceX.

Decker earned his BA and MS in Physics and Engineering from Sonoma State University and University of California, Los Angeles.

David Cohen - VP of Business Development

David has extensive experience creating strategic partnerships in technology markets.

He began his career in the medical device industry, demonstrating to surgeons and hospital administrators the need for multi-use instruments.

He then focused on the energy industry, working for several high-efficiency solar, heating, and cooling manufacturers. Throughout this career, he has managed sales teams, distributor networks, and created numerous sales training programs.

Jeff Jaran - Director of Public Safety Division

Jeff is responsible for guiding GeoOrbital’s efforts in the public safety sector, including supplying its wheels to police and emergency rescue workers.

He spent 14 years as a police chief in New Hampshire and Massachusetts, and graduated from the FBI National Academy.

Throughout his career, he has worked in law enforcement positions including patrolman, narcotics detective, SWAT team member, and a member of a police motorcycle unit.

Co-Investors