Ride Future Received Tens of Millions of Angel Round Financing

Recently, the narrow-body electric vehicle company Ride Future (Chinese: 坐骑科技) completed tens of millions of angel rounds of financing. The investors include Haibei Capital (Chinese: 海贝资本), Essential Capital (元航资本) and Angel Capital (AC资本). This round of financing is mainly used for vehicle R&D, as well as the company's daily capital replenishment.

Started in 2018, Ride Future is a company dedicated to creating closed narrow-body mini electric vehicles. It has technologies such as vehicle active rollover and overall solutions for vehicle chassis. As the automobile industry gradually transitions from fuel vehicles to electric vehicles, the field of electric motorcycles is also ushering in development opportunities. Different from the common electric motorcycles in the industry, ride future builds a closed narrow-body mini electric vehicle, which is a model between electric motorcycles and cars.

Wang Ya, founder of Ride Future, said that the sales of motorcycles in China are around 20 million units per year, but the pain points that two-wheeler users are often exposed to wind and sun have always existed. Of course, there are users who choose senior mobility scooters to avoid these problems, but the users of mobility scooters are mostly middle-aged and elderly groups, and the vehicles are not fast. The body of mobility scooters is huge compared with two-wheelers', and the shape is old-school, which is not easy to impress young people.

In response to these pain points, Wang Ya believes that closed mini vehicles can solve the pain points of two-wheeled vehicles. Ride Future narrow-body models are also smaller and faster than older scooters, making them more suitable for urban young people to travel.

Currently, Ride Future's first narrow body mini electric vehicle, Z6, has been prototyped and is moving forward with the development of the entire vehicle, which is expected to be officially released by the end of the year. In addition, Ride Future has obtained cooperation in the development and order of the European market. With the launch of the first product, Site-Ride Technology hopes to launch three products within five years.