Completes a 100 million yuan (RMB) Series A financing

As one of the earliest Chinese companies to seize the E-bike opportunity, F-WHEEL adopted a differentiation strategy to enter the overseas market in 2017. In that year, the shipment volume reached 18,000 units. The following year, F-WHEEL became the first Chinese E-bike company to enter the Costco channel. Over the next few years, the revenue maintained a doubling growth rate. With a model driven by both a German design team and the Chinese supply chain, F-WHEEL made significant strides in the overseas market, continuously setting new records for shipment volume while firmly maintaining its top position in the industry. In 2020, DYU sold over 150,000 units, becoming the first Chinese E-bike company to export more than 100,000 units. Currently, its annual shipment volume has surpassed 500,000 units.

F-WHEEL has precisely targeted the European and American markets, and when it comes to short-distance travel needs, these regions have a relatively strong bicycle riding culture, with a rapidly growing market. Data shows that the penetration rate of E-bikes in Europe is increasing year by year, estimated to reach 42.6% by 2028. The compound annual growth rate for the coming years is also expected to remain above 25%.

In terms of product positioning, F-WHEEL primarily caters to young people who typically have limited living space in their daily lives. Therefore, foldable E-bikes better suit their scenario-based needs, and this has become F-WHEEL’s flagship E-bike category. Currently, foldable E-bikes account for over 50% of the market share in Europe and America. To meet the transportation needs of European and American users, F-WHEEL has successfully developed multiple E-bike product lines, including foldable, urban, mountain, and fat-tire E-bikes. It holds over a hundred global patents and has established long-term partnerships with retail giants like Costco, Sam’s Club, and Best Buy, with a cumulative sales volume exceeding 1.5 million units.

In terms of design philosophy, F-WHEEL’s product designs are inspired by natural phenomena known for their aesthetic beauty. Among them, the classic D-series signature design draws inspiration from the most iconic natural phenomenon in the Fibonacci sequence, the parabolic spiral. By incorporating the ‘golden spiral’ as a design principle, we can discover beauty, understand beauty, and create beauty. This design also incorporates the dynamic motion of a leaping dolphin, creating a natural and aesthetically pleasing sensation when admiringF-WHEEL’s vehicles.

F-WHEEL adheres to a user-centric, innovation-driven product development philosophy. The founding team’s background in hoverboard development brings rich product experience, allowing them to blend hoverboard algorithms with bicycle drive algorithms—innovatively applying technologies for active road condition assessment and automatic gear shifting. Currently, there are numerous imitators in the market, but no one has surpassed F-WHEEL. The key to this lies not only in innovation but also in the long-term accumulation of overall product quality and attention to product details.

Localized Expansion in Overseas Markets. Despite having an online presence through brand websites and platforms like Amazon, 90% of F-WHEEL’s revenue still comes from offline channels. Currently, F-WHEEL has established partnerships with various offline retail giants, including Costco and Sam’s Club in the United States, Carrefour and Auchan in France, and Myer in Australia. In several European countries such as the Netherlands, Italy, Poland, and France, F-WHEEL has also set up a network of distributors. Additionally, they have established overseas warehouses and after-sales service centers in the United States, the United Kingdom, the Netherlands, Poland, and other locations to better serve the international market.

F-WHEEL has accumulated years of experience in the short-distance travel sector, along with a first-mover advantage in the E-bike industry, a strong supply chain, and experience in cooperating with major retailers. With the funds raised in this round of financing, F-WHEEL will establish a financial advantage, and the E-bike market landscape may gradually become clearer over the next two years.