Tiller Rides off with another $1M+ ECF raise

Tiller Ride Fremantle harbour
Tiller Ride in the place of its birth - Fremantle. Image supplied

The “world’s most advanced e-bike” – as it is billed – designed in Fremantle by Tiller Rides, has closed another successful round of equity crowd-funding (ECF) on the Birchal platform with $1.24 million raised from 318 investors.

The average investment was $3,960, more than $2,000 above the average investment for on Birchal. 70% of the investment came from people that expressed an interest before the offer opened.

What took the company 4 weeks to raise a million in 2019 only took only 4 days recently, proving the maturity of the investment now that the company has e-bikes available for purchase. Delivery will start over the next few months, to the first 500 customers.

Over 200 pre-orders are already in – the Roadster model retails for $4,490 with a $350 deposit downpayment – and those orders will be fulfilled first.

Founded in 2016 in Fremantle, Tiller Rides’ goal, as espoused by founder-CEO Julian Ilich is to “create a successful business that improved people’s health and well-being while reducing their impact on the planet.” And now, the company is joining the ‘urban mobility’ trend. The Roadster ebike is just its first such product.

Julian Ilich in his Freo workshop. Image Supplied.

Julian believes that the Tiller Roadster bikes are “the future of modern urban transport”.

Even though the Roadster was named after the original transport bikes of the early 1900’s, it is a modern high-tech machine with unique styling and functionality.

Its sleek lightweight pressed-aluminium frame is the key to its seamless integration of an impressive array of features. On a Roadster you can ride every day and for any occasion with ease and style.

Julian Ilich, CEO and Founder of Tiller Bikes

What sets this e-bike apart?

The company claim that users will never have to stress about their e-bike being stolen again with the introduction of “the world’s most comprehensive anti-theft system”.

The e-bike features a retracting quick tether cable lock and a keyless motion-sensing alarm. It also has a mobile-connected GPS tracker and central locking of all other removable features.

The Tiller Roadster comes loaded with features, already on board, such as the quick-release battery. Image Supplied.

Another feature is its connectedness. Every bike has its own inbuilt SIM card which connects back to Tiller Rides’ central database.

Just like a tesla, the roadster can self-diagnose any problems it may be having, and we can often fix your bike remotely by sending updates. unlike other e-bikes, our customer service team will look after you throughout the bike’s lifecycle!

Julian Illich

What’s next?

The company aims to use its new capital to buy the remaining parts required to turn on the production line and to boost its sales and marketing across Australia so more people can be a part of the “clean transport revolution”. 

“As an urban mobility company, Tiller Rides has a fleet of other products planned or in development including an electric scooter, a cargo e-bike, and even a micro car,” said Julian.

To find out more about Tiller Rides and to keep up-to-date with their development, visit their website.