[ad_1]

VANCOUVER, British Columbia–(BUSINESS WIRE)–Damon Motorcycles, the leading two-wheel technology company, today
announced the completion of a $2.5 million seed financing round
including Round 13 Capital and investment firms Techstars, Extreme
Venture Partners and Pallasite Ventures. With these funds, Damon can
address the critical safety needs for motorcycle fleet customers and
manufacturers alike.

Motorcycles are recognized as one of the best tools for proactive
policing, ambulatory, ride-hailing and courier delivery services with
increasing congestion gridlocking major cities worldwide. However,
motorcycles are also a costly tool with as much as 10% of motorcycle
fleet riders taking time from work each year due to related injuries.
Damon is addressing a market need to make motorcycling safer by
leveraging low-cost connectivity networks, the commoditization of
sensors and high-power mobile computing to position itself as an early
leader with global enterprises and original equipment manufacturers.

Jay Giraud, Founder and Chief Executive Officer at Damon Motorcycles
said, “We are focused on the forgotten category of 1.5 billion
vulnerable road users, and to fulfill our vision, we put data-driven
thinking at the epicentre of the company. We are building a radical
riding experience where the joy and simplicity of riding is augmented by
technology, and our goal is to usher in a world with no fatal accidents
on Damonized vehicles by 2030.”

Unlike the traditional driver-assistance systems (ADAS) found on cars,
Damon’s Advanced Warning System for Motorcycles (AWSM™) understands the
‘cageless’ conditions and unique vehicle dynamics of motorcycles that
add to a rider’s vulnerability. Damon’s forward, side and rear detection
algorithms inter-communicate to form a complete 360º ‘birds’ eye’ view
of what’s happening around the motorcycle at all times.

Bruce Croxon, Managing Partner at Round 13 Capital, stated, “We
typically do not do seed deals, but occasionally we come across a
founder and a plan that we think can be a potential game changer – and
we felt strongly that Damon fit this definition. We were impressed with
the company founder, the idea itself and the problem it’s solving, and
we’re thrilled to be onboard.”

Damon’s algorithms are tested over thousands of virtual and real-world
miles before a motorcycle can consistently detect and anticipate
accidents on all sides of the rider in all environmental and traffic
conditions. With cellular connectivity, possible collision scenarios are
recorded. The data is then sent automatically to a dedicated cloud
platform where a sophisticated AI engine continually learns and creates
new algorithms. Eventually, updates are sent back to the bike’s onboard
processor with the rider alerted to the availability of an update. Such
updates result in a faster, more sophisticated system, alerting the
rider to potential hazards in a seamless, self-learning loop.

Motorcycle manufacturers are currently evaluating Damon’s technology for
factory integration. With a significant patent portfolio and a team of
world-class engineers and motorcyclists, Damon is well positioned to be
a leading player in the $90 billion dollar motorcycle industry.

About Damon Motorcycles

Proudly built in Vancouver, BC and founded by serial entrepreneurs,
Damon Motorcycles is a leading two-wheel technology company that employs
radical innovations in sensor fusion, robotics and AI to expand the
reach of a rider’s senses in 360º and deliver enhanced situational
awareness. Damon’s mission is to cause a paradigm shift for safer,
smarter motorcycling. For more information, please visit www.damonmotorcycles.com
and follow us on Twitter @DamonMotorcycle
and Instagram @damonmotorcycles.

About Round 13 Capital

Round 13 Capital is a Toronto-based growth-stage focused firm investing
in Canadian information technology businesses. Four dedicated investment
professionals located in Toronto with extensive backgrounds in building
businesses, technology and private equity investing, M&A, and sales and
marketing. Partnership focused and seeking passionate and committed
operators we can work with to build value for all stakeholders.

[ad_2]

Source link