Motorcycle Technology Startup Forcite Raises $5.5 Million


Sydney-based startup Forcite has raised $5.5 million, aiming to grow its global footprint. Motorcycle technology start-up Forcite was co-founded by Alfred Boyadgis to create a safer system for motorcyclists to alleviate the chances of motorcycle accidents and protect the motorcyclists from severe injury through a helmet.

Recently, the start-up raised $4.2 million Series A led by Uniseed, meanwhile, attracting a crowd funding campaign which has raised $920,000 through Equitise.

The funding will be used to speed up the development of Forcite's MK1 motorcycle helmet. The helmet is designed to alarm and foresee the danger before the riders can be injured.

The company was founded in 2013 by Boyadgis with industrial designer Julian Chow to create a safety helmet for motorcyclists to curtail accident injuries.

So far, the company has sold more than 1300 helmets and has got the order of 14,000 helmets across Australia, the US, and Europe.

Uniseed Investment manager Natasha Rawlings has praised the company and the technologies they are using.

"Forcite is a market leader in motorcycle technology and continuing to grow in this field with its loyal customer," Natasha Rawlings said.

"They are very aware of the industry and thinking to go beyond the motorcycle helmet category."

Notably, Uniseed has invested $4.2 million in the startup and is looking to boost the company's helmet manufacturing process.

Forcite CEO and Co-founder, Alfred Boyadgis, has praised his designers and developers for putting extra effort to make this helmet technology more efficient.

"Our team of designers, developers, and engineers are really excited to grow in this field and use the Forcite technology daily to make iterative improvement after every ride," Boyadgis said.

The company is aiming to release an MK1S helmet, which will have several improvements and upgrades, especially to protect motorcyclists from any severe injury. The features and improvements will be based on existing user feedback.

The company has almost 18 full-time employees and is looking to expand the team members.