Damon Motorcycles has announced the completion of a $2.5 million seed financing round including Round 13 Capital and investment firms Techstars, Extreme Venture Partners and Pallasite Ventures.
Built in Vancouver and founded by serial entrepreneurs Jay Giraud and Dominique Kwong, Damon Motorcycles is a two-wheel technology company that employs radical innovations in sensor fusion, robotics and AI to expand the reach of a rider’s senses in 360º and deliver enhanced situational awareness.
Damon Motorcycles is focused on the forgotten category of 1.5 billion vulnerable road users on motorcycles with a goal to usher in a world with no fatal accidents on Damonized vehicles by 2030.
Unlike the traditional driver-assistance systems found on cars, Damon’s Advanced Warning System for Motorcycles (AWSM) understands the ‘cageless’ conditions and unique vehicle dynamics of motorcycles that add to a rider’s vulnerability.
Damon’s forward, side and rear detection algorithms inter-communicate to form a complete 360º ‘birds’ eye’ view of what’s happening around the motorcycle at all times.
Bruce Croxon, Managing Partner at Round 13 Capital, stated, “We typically do not do seed deals, but occasionally we come across a founder and a plan that we think can be a potential game changer – and we felt strongly that Damon fit this definition. We were impressed with the company founder, the idea itself and the problem it’s solving, and we’re thrilled to be onboard.”
Motorcycle manufacturers are currently evaluating Damon’s technology for factory integration.
With a significant patent portfolio and a team of world-class engineers and motorcyclists, Damon is well positioned to be a leading player in the $90 billion dollar motorcycle industry.
Photo: Globe and Mail