Čezeta Motors has announced CZK 15 million of capital secured via the crowd-funding platform Crowdberry. Nearly 70 investors became co-owners of their company of choice. These figures have made it one of the most successful crowd-investment projects in the Czech Republic. The ongoing demand from investors across Europe led the company to a decision to offer an additional 5 % of shares and increase the target amount to CZK 20 million.
The investment is part of Čezeta’s plan to produce 2 000 motorcycles annually for the European market by 2020. The larger part of the raised capital will go towards manufacturing and establishing a new paint shop. The company is gradually moving its manufacturing to the historical Wikow factory in Prostějov, aiming to eventually do all manufacturing in-house. Čezeta is also planning to open a new showroom in the center of Prague, which will promote the company among tourists, offer prospective customers an opportunity to try the electric scooter, and additionally serve as a headquarters for the community that has been building around the reborn legend.
“It’s great to see how many people have trust in our project. I was pleasantly surprised that with the help of Crowdberry, we were able to prepare a win-win investment opportunity for investors and our company in one month. During the campaign, we raised more than CZK 15 million in only two weeks. Crowdberry essentially created a private joint-venture partnership tailored for us, which we’ve just closed. Demand from investors though has convinced us to offer an additional 5 % of the company. Because of the campaign extension, we’re expecting to get around 20 more co-owners on board and thus strengthen the capital structure of the company. We’re very satisfied with the whole investment process. Besides the capital, we’ve also gained new clients and received support in the areas of strategy and communication,” explained Neil Eamonn Smith, Čezeta’s CEO and owner.
Čezeta combines a historical brand with timeless design and state-of-the-art technology. Thanks to its technical parameters, the electric motorcycle belongs in the world’s top class. The scooter can reach a maximum speed of 115 km/h and can be re-charged in 3.5 h with a range of 150 km per single charge. Another component that makes it unique is its gas and brake recuperation throttle system.
This spring, the company delivered the first vehicles to Belgium and the United Kingdom. The team is currently developing an app to facilitate communication between the customer and their scooter. Among the company’s priorities are optimizing the manufacturing process and securing its market position. Extension of the product line by creating another timeless model is also being considered.
“Čezeta is an innovative company and has already attracted the interest of customers from all over the world. Our investors were convinced mainly by the team’s vision to become a top-class manufacturer in the growing electromobility sector by merging unconventional design, innovation, top-notch technology and impeccable service to create a product targeted at the most demanding customers. This was also why Čezeta decided to bring more investors on board. After registering on our platform, they will be offered the same services as the original 70 investors – from preparing the transaction to legal assistance and long-term investment supervision,” said David Jelen, Crowdberry’s partner for the Czech Republic.
The history of Čezeta dates to 1957, when Jaroslav František Koch, an adventurer and engineer, designed some motorcycles, including the legendary scooter. His most famous piece was the Čezeta 501 with a distinctive front that inspired its nickname “The Pig”. Čezeta quickly became popular and represented a symbol of freedom during the Cold War. It was exported to many countries, mostly within the Soviet bloc but also to New Zealand where it was sold under the brand name NZeta.
You can find more about the investment here.