Reasons to Invest
The Macro Trends are positive: Our largest bike segment, e-bike, grew 145% from 2019 to 2020. Roughly 500,000 e-bikes were sold in 2020.
Customers are with us for the long run: We have 3000 loyal customers who support our solution and pay us a monthly subscription.
A team you can trust: We have a solid team and experienced investors including Netgear.
Your Bike is Freedom. Never Lose it.
Boomerang was founded by a group of avid cyclists. Our mission to develop a line of bike theft protection products brought forth the Boomerang CycloTrac. The device is a portable tracker which uses a motion-sensing alarm and GPS technology to keep your bike safe, no matter where you travel.
We are in the production stage but pre-ramp. We have had revenue of $104,000 in 2019, $192, 000 in 2020 and $133, 000 YTD 2021. We are optimizing all areas of the company before we ramp to high volume. Our 3,000 customers growing to 5,000 before the year end give us a large user base and a lot of data to understand where we need to optimize before scaling.
Bike Theft is Common in Cities Around the World
Double Down On Your Bike Protection
Boomerang’s solution is the Cyclotrac V2, a bike Alarm and GPS tracker that attaches to your bike. The device includes a built-in alarm system and runs on Cloud based Software through an App. The GPS tracker can attach to your bike in multiple ways, but the most common attachment is under the water bottle cage.
When our customer leaves their bike at the coffee shop or store, they arm the alarm with the app. If anyone touches the bike, they are greeted with an audible alarm and the bike owner receives a text message and phone notification.
Our technology requires a cellular data plan. Our customers pay us $3.90 per month and we pay the carriers. We make roughly 20% of margin on the hardware and 92% of margin on the data plan.
A Million Dollar Opportunity: Disrupting the Bike Theft Industry
The bike market is growing daily. E-bikes are also on the rise, with a projected 130 million e-bikes to be sold globally between 2020 and 2023. Despite the number of bikes being sold, we believe there are few companies targeting bike theft and we are the only company with an audible alarm system.
As far as we know, Boomerang provides a solution other competitors do not.
An 80% Customer Satisfaction Rate
As of August 2021, we have 3,000 customers paying us $3.90 each month. By December of 2021, we project reaching 5,000 customers.
We received an 80% satisfaction rating in a recent survey with customers. We are confident in our next firmware and app release and anticipate that we can achieve an 85% to 90% satisfaction rating.
Reduce Bike Theft With a Million Dollar Company
In 3 years, our goal is to have greatly reduced bike theft in cities and gained half a million customers. The lead investors are Netgear (NASDAQ NTGR) and Dr. Ronjon Nag R42 Group.
Meet Our Team
Kevin Fahrner has spent his career in Business Development He specializes in new technology from around the world such as Europe, Israel, China and Japan and brings the technology to North America. He was part of the founding team of two startups before founding Boomerang Bike. He is an avid cyclist who enjoys riding in the Santa Cruz Mountains and along the California coast.
Dr. Ronjon Nag
Ronjon Nag is an inventor, investor and informer. He is founder of R42 Institute and R42 Ventures, and is a Visiting Fellow at the Stanford Center for the Study of Language and Information where he teaches courses for AI and Venture Capital in healthcare. He has invented and deployed artificial intelligence systems for over three decades. He received a PhD in engineering from Cambridge, an MS from MIT, the IET Mountbatten Medal at the Royal Institution, and was a Harkness Fellow at Stanford University. Companies he has co-founded or advised have been sold to Motorola, BlackBerry, and Apple. He was awarded the 2021 IEEE Santa Clara Valley Award for Outstanding Engineer.