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Adding Specter: fast-forward to the future

At Fundracer, we agree with many experts in the field that mobility in most countries will change drastically in the next decade. We are going from mobility that is extremely car-based to a mix with more variation – the best tool for the job. I love how #bikeisbest drives that point home in their hilarious video (even though bike is not ALWAYS best):

The point is that cities are clogging up, average car commuting speeds are decreasing and as a result, there are faster, healthier and more enjoyable alternatives for many trips. 

A suite of solutions
This means that for very short trips, walking may be fastest. Slightly longer trips can be handled with a scooter, bike or e-bike. For trips up to 30-50km (20-30 miles), things get tricky. Such a trip may take an hour or more by bike, which is a lot of time, especially if you have the same trip home at the end of the day.

This time is slightly compensated for by the fact that such a commute is also a workout, so you save time and money on going to the gym or some other form of exercise. Still this may be simply too much time.

So how to travel such distances?
That really depends obviously. With the right connections, public transport may be a fast, convenient option. The car could also make sense (although there are also parts of the world where a car trip over that distance is slower than a bike due to congestion. 

In the past decade, a new option has started to appear: the speed-pedelec. At 45kmh (28mph), the speed-pedelec is a fast e-bike capable of traveling long distances are great speed and comfort. Initially, speed-pedelec uptake has been slow – it was too familiar to people and law makers also weren’t sure what to make of it. Where should it ride, what speed limits apply, etc.

Inflection point
It is a testament to the speed-pedelec’s ability to really address people’s transportation needs that despite those concerns, the segment has started to grow. And with that growth, more and more countries have started to embrace the speed-pedelec. We see that the market is at an inflection point, with exponential growth coming thanks to more countries coming onboard and market share within those countries increasing. This double growth led us to analyze the speed-pedelec market and decide on an investment in Specter.

Why Specter?
The speed-pedelec market is so young, there is only one bigger player and several brands trying to be “the Pepsi to that Coca-Cola”. Analyzing the various brands, Specter really stood out. First off, it rides really nicely, which is incredibly important at the distances and speeds these speed-pedelecs go. Secondly, the Specter offers 2-wheel drive, with a mid-motor driving the rear wheel and a hub motor in the front wheel. Where other speed-pedelecs often struggle to maintain speed uphill, the Specter shines. Great for Switzerland and other hilly countries, but also a great feature in flatter countries as it provides more control and safety.

In addition, Specter is not just a hardware company but also develops its own software. With its proprietary integrated big screen, seamless navigation, phone pairing and even Spotify controls, it is years ahead in the market.

The Team
And as with all our investments, we are impressed with the people at Specter. With these small companies, everybody wears many hats and that is not easy. In addition to the day-to-day work, there are also much longer-term strategic decisions to be made. We feel the Specter team is well-qualified to achieve its goals, and Fundracer is excited to help. 

Fundracer’s main focus will be to support in sales & distribution as well as with sourcing, as Specter scales up its production significantly in the coming years.