Fazua GmbH, a Munich, Germany-based company specializing in the development and distribution of a drive system for e-bikes, raised a seed funding round of undisclosed amount.
The company intends to use the funds for serial development, production planning and the subsequent market entry.
Led by Marcus Schlueter, managing director, FAZUA develops and distributes an innovative drive system for e-bikes under the brand name “evation” which combines a sportsbike with an engine support of a Pedelec.
The drive unit consists of the engine, gearbox, battery and power electronics. It weighs 3.7 kilogrammes and can be removed from the downtube easily and replaced with a cover.
The production of the first systems is planned for 2015 and they are scheduled to go on sale in 2016.