New Zealand water bike innovator Manta5 has launched its world-first half-bike, half-plane, ‘Hydrofoiler.’
Local investors have recently committed to ongoing support for Manta5 with a $2M injection, while the company seeks strategic series B investment. On the back of successful social media and brand building campaigns, the company has struck early market success in Europe and the US.
Gearing up for a strong 2022, Manta5 have decided that the company’s best long-term capital needs will be met with an IPO on the ASX. As a precursor to the IPO planned within the next two years, Manta5 is raising a Series B round.
“We are well on our way to achieving our goal of building a global brand with our hydrofoil product and creating a new sports category,” says CEO Mark Robotham.
“The ongoing support of our local investors has been key to enabling our early success. The time has come now to seek strategic investors who will help unlock the true global potential of this business as we scale up.”
After an extensive R&D and product development period, the company launched the world’s first hydrofoil e-bike in New Zealand, the US and Europe in 2020, securing $5 million in its first year of sales. This year Manta5 are forecasting further growth through 30+ resellers and distributors predominantly focused on Europe and the US.
Robotham says while manufacturing and supply issues continue to be a major challenge, the Covid economy has been kind to the company for a number of reasons.
“Manta5 has taken full advantage of returning international Kiwi talent, recently appointing Ian Calvert as Product Development Manager and Will Wakeling as Mechanical Lead.
“They bring 40+ years’ experience leading high-performance automotive product development at AVL, and fluids and thermal dynamics at Dyson.”
The Waikato based company has grown to 35 FTE locally and has hired new sales personnel to head up new offices in Marseille, France and Florida in the USA. Robotham says this global demand is proof that there is a strong appetite for his company’s hydrofoil bike.
“Building a global product business is capital hungry the time has come to step out of the shadows as a business and widen up this great opportunity to the wider investment community.”
Manta5 is the brainchild of Founder/Investor Guy Howard-Willis (formerly of Torpedo 7), who has always held onto the vision of creating a new sporting category with his world-first hydrofoil e-bike.
“From the beginning, I wanted this to be a sport, If you can race it, then it’s competitive, and if it’s competitive, it could end up in the Olympics, and that’s what I’m going for. There’s something truly special about this company’s potential,” says Howard-Willis.
