Lycan Motorcycles Inc. – the Philippines’ first-mover startup in the motorcycle + AI technology industry – is raising up to 50 million pesos (US$1M) in its seed round to fund the development of its production and distribution facilities within the Philippines.
The company is offering up to a collective 25% stake to both its existing shareholders at a discounted share price of PHP5,000 per share and to new shareholders – both angel and VC – at a share price of PHP6,700 apiece.
The fundraising effort of Lycan shall be allotted for the development of the company’s initiatives to put its AI-enabled motorcycles and technology programs into the Philippine market as early as Q1 of 2023 where the 50 million pesos in capital would yield the following income-generating assets:
Production
Establishment of a manufacturing & assembly plant to produce up to 5,000 high-tech motorcycles and technology hardware per year
Establishment of a small-scaled data center for data storage and management
Production and release of the first batch of reserved motorcycles
Distribution
Distribution hubs in Metro Manila, Luzon, Visayas, and Mindanao
3S Centers
Establishment of Sales, Service, and Supplies centers surrounding the distribution hubs
Research & Development
Completion of the third and final prototype stage of the Lycan G6 and Challenger 1 400cc and 650cc hybrid models for production
Development of electric vehicle (EV) scooter prototypes
Completion, production, and deployment of AI, ML, and IoT technologies
Completion of the beta prototype of the Lycan smart helmet
Business
Establishment of operating business units to accommodate Lycan’s revenue models
Marketing & Sales
Execution of low-cost, high-result marketing and sales campaigns to drive revenues
Finance
Development of financial tools for product financing and flexible payment terms
The intended output of the capital investment complements the company’s modern eCommerce and SaaS business models supported by several revenue streams with its family of IoT products, services, and technologies – all leveraging its customer-centric and cost-efficient approach of doing more with less.
In November of 2021, Lycan made its way into the industry by showcasing its concepts, plans, and alpha prototypes to the market where it has reached many people and supporters around the world. In March of 2022, the company demonstrated its second stage working beta prototypes for the first time where it is now entering its third and final prototyping stage before entering production within the year.
The capital to be raised will help accelerate the growth of Lycan’s mission of putting safer and smarter motorcycles on the Philippine road, showcasing Filipino ingenuity and talents to the world through its use of an integrated IoT family of products that is intended to reshape the motorcycle & technology industry in preparation for the 4th Industrial Revolution.
Lycan began its pre-seed round in August of 2021 at 480 pesos per share where it raised 3 million pesos both in cash and value across 23 shareholders, resulting in what Lycan currently is and has today.
The offer is open to new and existing shareholders until May 30, 2022. For more information, you may visit www.lycan.com.ph/invest or email Lycan’s CEO Jaggy Gangat at jg@lycan.com.ph
留言