Kyle
An Ann Arbor Michigan based startup called Current Motor, is the first startup to benefit from Dell’s new $100 million dollar Innovator’s Financing Fund. Current Motor is developing electric powered scooters.
The fund, announced Thursday, is entirely funded by Austin based pc powerhouse Dell. Their Entrepreneur in Residence, Ingrid Vandervelt, came up with the idea for the fund, under the supervision of the entrepreneur in residence advisory board.
Current Motor is using the funds from Dell, along with their expertise and “24 hour support” to help them implement an e-commerce system that handles customer service tracking, and also tracks important information on the scooters, such as battery life remaining. They want this entire system to be accessible via mobile app, similar to that of some of the shared bicycle and car apps out there (ZipCar).
“In exchange for a low monthly payment, we get one point of contact and a really comprehensive, scalable technology solution that allowed us to get to market six months ahead of schedule, while conserving our equity capital for sales, marketing, research and development,” Lauren Flanagan, executive chairman and an angel investor in the company told the Austin Statesman.
More after the break
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