The wheel world: Ryno pads investment base, preps for spring roll-out
By Andy Giegerich
Sustainable Business Oregon editor
RYNO has raised $500,000 after collecting nearly $1 million over the past year.
RYNO Motors is hammering away at a formidable, but not unattainable, fundraising goal.
RYNO collected $500,000 in equity investments this week, according to a company filing with the Securities and Exchange Commission. The Beaverton-based maker of an unusual one-wheeled electric motorcycle didn’t name its investors in the filing but did note that it hopes to raise $3 million by the time the round ends within the next year.
Wheel life: Take a look at Ryno's unique EVs in motion
Ryno had raised close to $1 million in previous funding efforts. The company announced last month it would take pre-orders for its EV for as little as a $150 down payment.
The bikes, called micro-cycles, will sell for $5,295 and are expected to ship during the second quarter.
The micro-cycles travel at a top speed of 10 miles per hour and can transport riders on bike lanes and sidewalks. Purchasers can charge the units in normal AC outlets.
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