# Bimotal Inc.

Powering electric vehicles with better motors, batteries, electronics, and software

- Canonical URL: https://wefunder.com/bimotal
- Entity ID: wefunder:company:138381
- Last updated: 2026-06-20T05:01:10Z
- Generated at: 2026-06-20T13:30:24Z

## Quick facts
- Big traction: contract with top bike brand to develop industry-leading ebike system (not guaranteed)
- Investible venture: Over $2.5MM raised to-date
- Allstar team: Former Tesla Powertrain, Apple, Formula-1, and Aerospace Tech Leads
- Pick-and-shovel play: Better propulsion will elevate the entire electric vehicle industry
- Already shipping: B2C product tooled and in the field with custom-written data logging software
- Rapid scalability: B2B powertrain business model can scale in large steps with each new customer
- Massive revenue potential: Multiple programs have a path to $100MM+ annual revenue (not guaranteed)
- Adjacent markets: Lightweight folding wheelchair motor concept in development

## Active fundraises
- wefunder:fundraise:90050: 4(a)(6) successful (USD)
- wefunder:fundraise:90051: 4(a)(6) successful (USD)

## Story
What does Bimotal do?Our Vision and MissionWhy Bimotal?Bimotal's Master PlanThe PitchProduct TestimonialsTechnology and Design PhilosophyFounder's Story: Bimotal Started as a NeedLinks (blog, product, details, etc.)Wrap-up and Conclusions1. What does Bimotal do?Bimotal designs and develops custom electric powertrains for small electric vehicles [EVs] weighing 20-50 pounds. A powertrain is the electric motor, gearbox, battery, charger, electronics, and software that makes a vehicle electric. Tesla is pushing the envelope on the technology front for large EVs. But smaller EVs need the same level of technical development and they're not getting it--that's where we come in. Switching out all gas-powered vehicles for same-sized electric cars is not enough to get us to our global carbon emission targets. We need reliable, safe, compelling, portable, modular, and serviceable small EVs [ebikes, e-scooters, power-assist wheelchairs, and more] to solve the transportation segment of the global climate crisis. Our proven engineering expertise enables us to build the most power-dense, small, and lightweight powertrains on the market.Link: Elevate Product - Web PageLink: Mid-Drive Product - Power Point DeckComing soon: Wheelchair Product - Power Point Deck [Not yet public!]Elevate: This is a direct-to-consumer (D2C) product. We have pilot customers in the field, we've built most of the manufacturing tooling we need, and we're ready to ramp up production.Mid-Drive: This is a business to business (B2B) product. We're currently building Beta prototypes after a successful Alpha design that validated the technology we developed in our novel gearbox. We're approximately 18 months into the 3-year development cycle, with initial funding provided by a top bike brand.Wheelchair: This is a B2B product. Our aim is to leverage the motor and gear design we're doing for the bike industry and bring lighter, more-economical power-assist solutions to the wheelchair mobility market. About 1% of the population uses a wheelchair (50-80MM people globally). 65% of that market consists of folding wheelchairs, many of those users suffer shoulder injuries from overuse. There is an incredible opportunity for light-weight, removable power-assist solutions optimized for folding wheelchairs: we're setting out to build it.Investor: Why multiple programs? Shouldn't you focus on one powertrain design?Bimotal: Doing multiple programs allows us to leverage our engineering efforts across multiple business fronts. Let's take Elevate and wheelchairs as an example. Developing Elevate to the point of a highly-functional prototype took about 1.5 years. Developing a wheelchair motor system to the same place will take approximately 3-6 months, due to all of our applied learnings, common components, and shared suppliers. Doing multiple programs lets us acquire more total resources and go deeper in various technical aspects that are shared across programs. In the end, this will yield a better powertrain in each of our programs.2. Bimotal's Vision and Mission:Our vision is to transform the health of humans and the planet. We are achieving this vision through our mission: reducing barriers to car-free mobility.Link: How Bimotal got its name - Blog Post3. Why Bimotal?We need better light-weight forms of transportation. We need reliable batteries. We need light-weight, portable ebikes with enough torque and power. 100’s, maybe 1000’s of companies are working on small EVs (Electric Vehicles). Only a few companies have the technical capability to do ground-up powertrain design. Bimotal is creating enabling technology--think Intel Inside to computers--to make this happen. We do millions of cloud-based motor simulations and designs to find an optimal handful for each application. We have a brilliant engineering team with an unparalleled bar for packaging and space efficiency. We’re here to lift an industry up, to accelerate adoption. Keep reading and help power our vision for a healthier, happier planet.Bimotal featured in ANSYS Earth Rescue DocumentaryLink: Bimotal Global Greenhouse Gas Emissions Deck4. Bimotal's Master PlanFocus on core technology - Small electric powertrains [Elevate]Gain Traction - Expand the business model, scale [Mid-Drive, Wheelchair]Vertical integration - Pursue to grow competitive advantages [full vehicle]5. The PitchProblem: Small EV serviceability, weight, and designSolution: fully optimized powertrains for small EVsMarket: TAM over $50B and a focused, premium beachheadCompetition: Bimotal is the clear leader in power densityAdvantage: Technology, team, speed, and focusBusiness Model: Scale with B2B powertrainsG2M: Powertrains scale to multiple business verticalsForward-looking projections cannot be guaranteed.Revenue: Path to $100MM+ with conservative market shareForward looking projections cannot be guaranteed.Traction: $5.5MM B2B contract, significant D2C ordersForward looking projections cannot be guaranteed.Raise: $3MM to accelerate growthOnly $1.235M of the $3M will be solicited in this Wefunder offering.6. Product Testimonials"I have an extreme passion for mountain biking, and I think the "Elevate" product that Bimotal is creating is one of the greatest biking inventions I have ever seen. I was wondering if there was a position available on your team for someone with my skill set?" - Tesla Gigafactory Manufacturing Engineer7. Technology and Design PhilosophyDesign philosophyClosed-loop designWe iterate our designs based on thorough analysis of current prototypes in all areas: structural design, thermal simulation, magnetic simulation, and more. We then correlate our computer simulations' predicted performance to real-life performance that is measured in the lab.Elevate exploded animation - we design everythingLink: Website technology page - Web Page8. Founder's Story: Bimotal Started as a NeedBimotal started with a ski crash. Founder Toby Ricco suffered a knee injury and wanted to continue mountain biking, but couldn't manage the steep hills. He looked extensively at ebikes and conversion kits but did not find a solution that was as light, removable, or integrated as he envisioned possible."I couldn't find anything that was light, removable, and added the assist I needed to ascend my favorite trails without knee pain. I was stubborn and knew there had to be a better way. I spent months looking at my bike until the concept of Elevate hit me, a way to drive torque through a bike's disc brake. Bimotal transitioned into a B2B powertrain company in the process of pitching Elevate to other companies--OEM's [original equipment manufacturers] loved the team and innovation, but wanted something specifically optimized for their application. Now we're working on a variety of powertrains that will improve the fidelity of our technology (battery, motor, electronics) across all products. And we are still as committed as ever to get Elevate into the world."9. Link SummaryBimotal website home - Web PageBlog - Web PageInvestor Deck - PowerPoint SlidesGlobal Greenhouse Gas Emissions - PowerPoint SlidesElevate Product - Web PageMid-Drive Product - PowerPoint SlidesComing soon: Wheelchair Product - PowerPoint SlidesYoutube - SocialInstagram - SocialFacebook - Social10. Wrap-up and ConclusionsThis is an opportunity to invest in an incredible team, tackling relevant issues in a very conscious and focused wayBimotal has multiple lines of business expected to reach $100MM+ annual revenue (not guaranteed), with real products in the field and the backing of a major industry playerBack us to help build amazing products that will transform the health of humans and the planet!

## FAQ
1. **Why don't I see a discount confirmed at checkout when I reserve ahead of time in the 'Friends Invest First'?**
   - You will see this once the form C is submitted with the SEC (early July), before any money is actually transferred. We’ll make sure you get the discount if you’re within the first $500K invested!
2. **How much of the early investment is still remaining?**
   - We have over 40% already committed, so we encourage you to move quickly!
3. **Hello, your project is fantastic. I need portuguese information. Please help, i don't speak english.**
   - International deliveries are starting in 2024. We'll have more product documentation as we build out our service and installation.
4. **Hi, I see no mention of any patents. Do you have any patents awarded or pending? Thanks. Blessings**
   - Hi Kim, We have 1 patent on Elevate that covers many aspects of the design. This will issue by September 14th! We just submitted 1 provisional on our wheelchair product. And we are working on a family of patents for our mid-drive which has some really great IP. Those 3 provisionals will be submitted by September 7th. Let me know if you have further questions! -Toby
5. **Can you please share 2023 YTD revenue and profitability updates vs. 2022? What do you anticipate to be the 2023 year end revenue total and profit? Also, long term, for investors to see a return, are you considering an IPO or another route? Thank you!**
   - Hi Jason, Charissa will chime in with the numbers as she reviews those. I'll address the longer term return question. If an acquisition helps us have more impact on the world, faster, we will consider it. If it's simply to "buy a competitor out" with no intention of scaling all of our product lines, we won't consider it. Often there can be liquidity in later venture investment rounds as an additional way for investors to exit. Finally, IPO would be the nominal "exit" if the right acquisition ...

## Team
- Toby Ricco (CEO & Founder)
- Matt Rounds (Associate Director of Engineering)
- Ryan Sellers (Sr. Mechanical Engineer)
- Swadhin Gite (Sr. Electrical Engineer, Electronics Team Lead)
- Neil Flock (Sr. Mechanical and Operations Engineer)
- Brooks Barrett (Sr. Mechanical Engineer)
- Andrés Pastor (Sr. Mechanical Engineer)
- Charissa McManis (Business Development and Operations )
- Gerardo Castro (Engineering Technician )
- Nat Thakar (Engineering Technician, Bike Mechanic)
- Chad Furey (Motor Expert)
- Abby Dunlay (Industrial Design)
- Peter Pang (Director of Strategy and Growth)

## Recent posts
- We are closing our Wefunder investment round on Wednesday, January 10th, 2024! (2024-01-03T00:28:29Z)
- Holiday Session 5pm Tomorrow - Don't Miss Out! (2023-12-20T00:06:17Z)
- Bimotal Holiday Webinar (2023-11-30T21:36:08Z)
- Our Wefunder Campaign Video Has a Fresh New Look! (2023-11-11T00:11:33Z)
- Four Mid-Drive Patents Filed! (2023-09-14T20:31:31Z)
- Elevate Orders are Rolling In, 10 Million Views and Counting! (2023-09-07T18:48:58Z)
- Form C Filing Update (2023-08-26T23:33:50Z)

## Q&A
- Q: Where do you see Bimotal Inc I'm the next year? 3 years?? 5 years from now??
  - A: In the next year, we will have closed a Series A, Elevate will be in more consistent production, and the Accelerate Mid-Drive program will have completed reliability testing. In three years, Elevate will have disrupted many ebike models/markets, Mid-Drive (Accelerate) will be in full production, and we'll have a business path forward on Activate, our wheelchair product. In five years, we'd like to have all 3 programs in volume production, 2nd generations of them launching, world-class software with over-the-air updates, and more.
- Q: Hi, I see no mention of any patents. Do you have any patents awarded or pending? Thanks. Blessings
  - A: Hi Kim, We have 1 patent on Elevate that covers many aspects of the design. This will issue by September 14th! We just submitted 1 provisional on our wheelchair product. And we are working on a family of patents for our mid-drive which has some really great IP. Those 3 provisionals will be submitted by September 7th. Let me know if you have further questions! -Toby
  - A: Just confirming: four patents for our mid-drive product were submitted September 1st.
- Q: Will Bimotal Inc lease or sell IP licensing out to other tech companies and etc??
  - A: Hi George, yes. We are in discussions with a couple major bicycle component manufacturers right now, some of these discussions revolve around licensing mid-drive tech.
- Q: When it comes to growth and strategy, what is your thinking around Bimotal in the LATAM market?
  - A: Hi Pia, We’re excited to serve the Latam market as soon as we can feasibly do so and maintain a high level of service and support. We’re many rounds into strategic discussions with two of the largest component companies in the industry right now, specifically to work with us on global distribution and service. In parallel, we’re developing training videos and materials to be able to train installers rapidly and build an open, community-facing knowledge base about the Elevate system. As a company, our mission and vision is focused on impact—servicing as many markets as we can is key. Keep up the support, stay patient, and we’ll get there! -Toby
- Q: Can you please share 2023 YTD revenue and profitability updates vs. 2022? What do you anticipate to be the 2023 year end revenue total and profit? Also, long term, for investors to see a return, are you considering an IPO or another route? Thank you!
  - A: Hi Jason, Charissa will chime in with the numbers as she reviews those. I'll address the longer term return question. If an acquisition helps us have more impact on the world, faster, we will consider it. If it's simply to "buy a competitor out" with no intention of scaling all of our product lines, we won't consider it. Often there can be liquidity in later venture investment rounds as an additional way for investors to exit. Finally, IPO would be the nominal "exit" if the right acquisition doesn't happen prior. Feel free to shoot me a note directly: toby at bimotal.com if you want to discuss in further detail.
- Q: What is the price of each share of Bimotal Inc????
- Q: Were you prospecting or expecting any possible acquisition offers, or collaborative partnerships with any other companies?? Will an IPO be possible?? Or just remain as is but scaling to next levels??
  - A: Related to my response on technology, there may be an exit opportunity (there have already been three acquisition inquiries) with a large bike or automotive component supplier. At this time we are steering the conversations towards partnerships and strategic investments as we can develop technology fastest as a smaller lean startup. We will consider an acquisition when it's clear that is the path to have the biggest impact on electrification of small EV's.
- Q: With the Regulation of Crowdfunding deals the amount we can invest per year across this platform will hit the limit, so We were wondering if you have provisions to accept alternative outright financing. With that, we can cover over 60% of your target raise. Kindly reach out to me at HornbeckInvestment@protonmail.com so we discuss further.
  - A: Thanks George, just sent you a note via email.
- Q: Hello, your project is fantastic. I need portuguese information. Please help, i don't speak english.
  - A: International deliveries are starting in 2024. We'll have more product documentation as we build out our service and installation.
- Q: How much of the early investment is still remaining?
  - A: We have over 40% already committed, so we encourage you to move quickly!
- Q: Why don't I see a discount confirmed at checkout when I reserve ahead of time in the 'Friends Invest First'?
  - A: You will see this once the form C is submitted with the SEC (early July), before any money is actually transferred. We’ll make sure you get the discount if you’re within the first $500K invested!
- Q: Do you have more information and/or can you share some of the thinking behind your valuation cap? What are you factoring into the valuation and what's the thinking/logic behind the $25M? I really like what you're building and it aligns with my investing, but it doesn't seem aligned with the current venture/equity markets. Would love to put something in, but I can't quite get there on the valuation yet. Thanks!
  - A: Thanks Jake--a combination of past raises, discounted cash flows of projected revenues, IP portfolio. One significant consideration is the amount of capital we need to take on to get the larger mid-drive program to market: it's a $100MM+ revenue opportunity and we need substantial capital to execute on it ($10MM plus) which we're looking to do in a Series A. You can imagine the math doesn't pen out for programs that large with much lower valuations.
- Q: The pika boost is $400......at 2K this is expensive for 99.9% of buyers. Limited application and a $25M value. Ask yourself what is the endgame here for your investment.
  - A: Hi Silvr, There's a pretty large market of high-end mountain bikers where the Pika Boost is not a good solution. That's our target market with Elevate. We have a significant amount of pre-orders. Of the orders we've delivered, we're getting a large percentage of folks so impressed with the performance that their friends are trying to order or they're buying more units for additional bikes (see updates). Bimotal is a technology company that does high-torque and power density powertrains. The mid-drive product (now functional) has much better specs than anything on the market, and has a path to achieve $100MM+ in revenues. Plenty of paths for value creation and helping our investors get a return while making better small EV's for the world. Let me know if this helps address your concerns. We have an investor Q&A this evening at 5pm if you'd like to join!