BrightStar Wisconsin Foundation has invested in Fleet Cycles, a Madison mobility startup developing heavy-duty electric cargo bikes for military and commercial use.
The bikes can carry 800 pounds and operate for 60 miles before needing a charge. Fleet Cycles is working with commercial partners to demonstrate how costs can be reduced in industries like logistics and municipal services.
The company also has a multi-year contract with the U.S. Air Force, and is piloting its bikes at Disney World and in municipalities around the country.
“It’s not often we have the chance to invest in an opportunity that already has a million-dollar-plus contract with the U.S. military and established pilots underway with municipalities all over the United States,” Todd Sobotka, BrightStar’s president and CEO, said in a statement. “It just shows the robustness of the product the company has developed, and how it meets the disparate needs for a variety of high-potential customer groups.”
