Future Motion, Inc., the Santa Cruz, CA-based maker of electric boardsport Onewheel, closed $3.2m in Series A funding.
The round was led by new investor Deshe Holdings with participation from Paul Crandell, DSCN Capital, Hallet Capital, and Lighthouse Capital. They joined existing investors Rock Point Capital, Urban.Us, Scott Cannon, and Charles Crowe.
The company will use the funds to increase manufacturing capacity and expand their team, particularly in engineering, marketing and operations, build out a new R&D center in Santa Cruz with advanced equipment to develop new recreation-transportation products.
Founded in 2013 by Kyle Doerksen, CEO, Future Motion has created electric boardsport Onewheel which retails for $1,499 and can be purchased either through the Onewheel website or at several key retailers including: Urban Surf (Seattle, WA), Next Adventure (Portland, OR), Strongwater Mountain Surf Co (Missoula, MT), and Tula Adventure Sports (Virginia Beach, VA).
The company, which is now focused on the development of new advanced personal vehicles, is also opening a European distribution and service center to accelerate growth in Europe while providing fast shipping to customers and after-sales support.