Hydrofoil bike maker Manta5 raises funds but well-short of target
It’s a struggle raising capital in NZ for product makers, CEO says.
Manta5 wants its hydrofil ebike to become as popular as stand up paddle boards.
Hamilton-based hydrofoil bike maker Manta5 has raised $3 million from existing investors to expand sales in Europe, falling well short of its hoped-for $6m. It also has longer term plans of raising $20m to accelerate growth.
CEO Mark Robotham said it had been tough during the past six months trying
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