# EVELO

Smart electric bicycles, sold direct to the consumer

## Elevator pitch
EVELO designs, develops and distributes electric bikes for all purposes. Consumers are increasingly choosing electric transport options, leading to global e-bike sales estimates of $15B+ in 2016, with significant growth in the North American sector. EVELO is at the forefront with innovative technology, well-built bikes, and a direct-to-consumer distribution model allowing lower prices and higher margins – resulting in $1M revenue in Q2 2016 and $6M+ of products sold and shipped since inception.

- Canonical URL: https://wefunder.com/evelo
- Entity ID: wefunder:company:10781
- Last updated: 2026-06-16T05:02:08Z
- Generated at: 2026-06-16T13:09:11Z

## Quick facts
- $1M in revenue in Q2 2016; $6M+ in revenue since inception
- 60-70% growth year-over-year
- Saves consumers up to 50% markup per bike
- Innovative Omni Wheel converts any traditional bike into electric in 20 minutes, with no technical skills required, at a fraction of the cost
- Backed by Shark Tanks’ Barbara Corcoran and Foundry Group’s Brad Feld
- 3,000+ happy customers (see http://www.shopperapproved.com/reviews/evelo.com/)
- Direct-to-consumer distribution eliminates costly retail distributors and unnecessary markup to the end user

## Active fundraises
- wefunder:fundraise:6722: 4(a)(6) successful (USD)

## FAQ
1. **I want to congratulate you on this project! Cycling is picking up traction around the world and riding bicycles is becoming a tradition for many families. I like the idea of providing a service such as the subscription based model that will offer repair services and so forth. ...**
   - Hi Guevara, Thanks so much for your question. We absolutely agree that cycling is picking up traction all over the world and electric bikes are introducing scores of people that traditionally were not cyclists to bikes. With equity crowdfunding, the investors receive a return on their investment once the company gets eventually acquired or goth public. Right now, we are focused on growing our market share and increasing the company's revenues and shareholder value. Eventually, as other compan...
2. **What is the average battery life? How is the battery charged?**
   - Hi Richard, The battery is charged the same way that you'd typically charge a laptop. You have a simple charger that plugs into any wall outlet. Since the battery is removable, it can be easily charged on or off the bike. The typical battery life is about 750 complete recharges, which equates to about 3-4 years of regular use. After that, it continues to be perfectly functional, but the range declines somewhat (e.g. after 750 recharges, you can expect to get about 70% of the original range). ...
3. **What plans do you have to take EVELO public?**
   - Hi Barbara, Thank you for your question. This is a tough question to answer with certainty. Typically, in our space, it is more common for companies to get acquired rather than go public - although either can happen. We will keep all of our investors posted on this. Best, Boris
4. **There are now hundreds of ebikes on the market. Some very sophisticated and some very average in build quality. There are even some very good E wheels out there......with all this competition why should I invest in this company?**
   - Hi John, You raise a great point. There are competitors in this space and the technology itself changes and innovates every single year. As such, we believe that the technology itself is only half of the solution. We must continue to develop cutting-edge, affordable products but that alone is not going to be enough. I believe that our core strength and advantage is a nearly fanatical focus on developing a direct-to-consumer electric bike brand that delivers an exceptional experience to the cu...
5. **Can you tell me more about your broadening in Canada? Reason why I ask also due to recent events with the Canada and EU trade agreement. Do you have plans of opening shops in EU and UK as well?**
   - Hi there! Absolutely. The trade agreement should not have a material effect on our international expansion. We are looking to start with Canada, given that our headquarters are in Seattle and it would be fairly simple for us to expand with an office in Vancouver, BC and serve the Canadian market from there. Since we're a direct-to-consumer company, we do not necessarily need to open physical stores to be present in a market. We do, however, need an office and warehousing operations, but those...

## Team
- Bill Cummings (Director of Customer Service)
- Gonzalo Sánchez Sarmiento (Director of Marketing)
- Alex Stegemann (Director of Sales - East)
- John O'Donnell (Director of Sales - West)
- Boris Mordkovich (CEO)
- Yevgeniy Mordkovich (CTO)

## Q&A
- Q: Hi, Do you own any patents for this product? Where can I find the unit price? What age group customers do you usually find buying this?
  - A: Hi Rakesh, I'm happy to provide the unit price to you and any additional information you may need. Please email me directly via boris@evelo.com and we'll send it to you. As for the customer demographics, I would say that they are broadly divided into the following key demographics: - About 35-40% of our customers are going to be in their late 30s to mid-50s who get an electric bike, in large part, for commuting and getting around town. Oftentimes, it will be to replace their 2nd vehicle or public transportation. Many of them are very new to cycling, never having really done it before. - Another 45-50% of our customers are going to be in their mid-50s to mid-70s (baby boomers). These folks, equally split among men and women, get an electric bike primarily for recreation and as a way to stay fit and active. Many of them have not cycled for 15-20 years and are just getting back into it. Frequently, they'll buy a bike first for themselves and 3-12 months later, will get another one for their spouse. - The remaining customers vary. Some of them will be younger folks (relatively - still in their 30s) who will get an Omni Wheel for themselves. Others will do it because they want to lose weight and improve their health. Hope this helps! Boris Mordkovich Co-Founder & CEO
- Q: There are now hundreds of ebikes on the market. Some very sophisticated and some very average in build quality. There are even some very good E wheels out there......with all this competition why should I invest in this company?
  - A: Hi John, You raise a great point. There are competitors in this space and the technology itself changes and innovates every single year. As such, we believe that the technology itself is only half of the solution. We must continue to develop cutting-edge, affordable products but that alone is not going to be enough. I believe that our core strength and advantage is a nearly fanatical focus on developing a direct-to-consumer electric bike brand that delivers an exceptional experience to the customer that no other traditional bike company can beat. - Ambassador Program (earn money from showing your bike), - 10-Day At Home Trial, - 7-Days a Week Live Support, - Stress-Free Service & Warranty Management (when there is a problem, we setup an appt for you to drop off a bike locally and deal directly with the shop) - [IN PROGRESS] Subscription-Based Ownership, - [IN PROGRESS] 5 Year Comprehensive Warranty, - [IN PROGRESS] Proactive Problem Detection (we can find out about problems with your bike before you, as a customer, will) Some of the "soft" elements mentioned above have never been done in the bike industry. And when they are all put together, it really elevates the entire buying experience for the customer. We find that the reason we win our customer's business, even with dozens of competitors out there, is 50% due to the product that we sell and 50% due to everything we do to make it easy, stress-free, and rewarding for a customer to buy from us. Hope this addresses your question! Boris
- Q: are you still in business as of 12/25
- Q: Please send us investor update for the last quarter
- Q: Hello. I'm an early Wefunder investor, fan, and user. I love the product and your mission. Do you have any updates on if or when there would be a liquidity event? Have any companies approached you about an acquisition? I'd like to know more about how you're thinking about your exit strategy. Thanks!
- Q: Is Evelo still in business
- Q: Hi, how do I buy a bike? Or can I Invest and buy a bike?
  - A: Thank you for your interest. Please let me know what the best way to get in touch with you is and I’ll pass it along to our sales team. Alternatively you can send an inquiry to contact@evelo.com and someone will get back to you shortly.​ 
- Q: Just curious if this pandemic is making sales go up, as some ebike companys are seeing huge percentage increases in sales??
- Q: UPDATE???
- Q: UPDATE???
  - A: Hi James, We do send out an annual update every January. If you haven't received the last one, please send me an email at boris@evelo.com and we can get it handled!​ Boris
- Q: I see the market for this especially in major city’s like New York but my question is what makes you guys unique? Than any other electric Bicycle or a scooter companie? Also do you see your company perhaps shifting to a rental e-bike like an car2go but for bikes ?
- Q: Can you please Update us!!
- Q: Live on Long Beach Island New Jersey, everything Medal is rusting i'm 15 speed bike with the brakes front and back will last 3 years down here from the salt air, how was your bike hold up in these environments?
- Q: When will you raise your next round of funding?
  - A: Hi Douglas, Please feel free to reach out to us directly for further information. You can reach me at boris@evelo.com Thank you, Boris
- Q: I need a price on the omni-wheel, retail. I would also like to know if you have opportunities to resell your products?