Photo - Zygg
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Zygg

Zygg is a subscription e-bike service for B2C, B2B & B2G.

Canada, Toronto
Market: Transport
Stage of the project: Operating business

Date of last change: 17.03.2021
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Idea

Zygg is a subscription e-bike service for personal riders, food delivery and B2B/B2G fleets. Our goal is to transform billions of urban car & truck trips to ebike rides. We provide e-bike hardware, service and finance, rolled into a simple monthly price that includes delivery, maintenance, repairs and even reduced liability.

Current Status

launched June 1, 2020
deal with General Motors for 200+ Ariv ebikes
raised US$1M in equity & debt
sold out at over 220 riders in September 2020
B2C, B2C2B riders & B2G pilot
strong sales in off season
headed to fully deployed / 300 ebikes by March 31, 2021
400 more ebikes secured for spring/summer in very tight market
both OEM & in-house / white label ebikes in supply chain
$129 / rider / month
$100M ARR with 25 cities at 3,000 bikes

Market

Zygg services
- Personal riders (commuters & urban adventures, the largest market eventually)

- Food delivery workers (a very fast-to-grow market where ebikes are essential to earn more money)

Adding
- B2G fleets (inspection, parking etc..)
- B2B cargo ebikes
- B2B2C real estate developments

Problem or Opportunity

There is an explosion of demand for electric bikes, and Covid-19 has exponentially sped up the coming e-bike economy.

E-bikes are entirely familiar, and yet totally magical. They will make you feel 20 years younger - and let you earn 35% more for Uber Eats.

But they are an expensive, unfamiliar new technology.

The electric vehicle our cities need is an e-bike, and Zygg is designed to scale to meet that demand.

Solution (product or service)

Zygg provides e-bike hardware, service and finance, rolled into a simple monthly price that includes delivery, maintenance, repairs and even reduced liability.

Competitors

The only company offering a similar service does so for Food Delivery workers primarily in SF, LA, NYC & Philly. (Zoomo, from Australia)

Existing alternatives are to purchase or finance an ebike (without service included) from an ebike, local or big box retailer.

Most consumers DO NOT have a favourite brand of pedal bike, do not think of a local bike store as a place to buy expensive electronics and are looking online.

Advantages or differentiators

First to market
Extensive team experience with shared / urban mobility, asset-based ventures
Focus on great customer experience
Vertical integration (to reduce supply costs 30%+)

Finance

We charge from $99 to $214 per month for an ebike and options like reduced liability, extra batteries, and sell helmets, baskets, and other accessories.

Business model

Our model shows
ave revenue / bike - $125
Cost/bike/mo - $77

We measure
- sales /month (/bike / rider)
- #bikes, #Riders, Growth
- % deployed, available
- # service calls per 100 ebikes,
- more

Money will be spent on

Growth esp to new city, leveraged for more ebike supply loans

Offer for investor

$30/share
Other options available inc. prefs / convertible debt
Last round priced at $22

Risks

Supply chain is strained due to covid and covid-related demand
capital intensive
greatest risk is getting acquired as there will be (multiple) brands providing this service, and it is an entirely green field right now in the Americas.

Incubation/Acceleration programs accomplishment

none

Won the competition and other awards

2020 Transit Research Board 6-Minute Pitch, winner

Photos

Photo 1 - Zygg is a subscription e-bike service for B2C, B2B & B2G.
Photo 2 - Zygg is a subscription e-bike service for B2C, B2B & B2G.
Photo 3 - Zygg is a subscription e-bike service for B2C, B2B & B2G.

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video