Is GeoOrbital The Future Of Biking? | Shark Tank US | Shark Tank Global

[Applause] next into the tank is a modern reinvention of the wheel [Music] hello sharks my name is michael bertoff my name is dakota decker our company is georbital we're from cambridge massachusetts but we're seeking five hundred thousand dollars for five percent of our company sharks we give you the bicycle effectively unchanged for over a hundred years now maybe it's just me maybe i watch too much science fiction but i want to take the bicycle and introduce it into the 21st century the geo-orbital wheel is a step into the future we made a way to turn almost any bicycle electric in under 60 seconds with no tools [Music] so what you see here is 100 normal bike exactly as you would buy from a store completely unmodified all you do is take off your regular front wheel put on the geo orbital wheel clip on the throttle and you're good to go it takes under 60 seconds to install and no tools wow now what you see here is a powerful electric bike the uh motor will take you about zero to 20 miles an hour in under 10 seconds you can travel up to 20 miles on a single charge without even pedaling you're going up a hill no sweat you've got 500 watts of power available at the press of a lever so can i try it absolutely yeah yeah here let me i've got another one for you guys too okay do i need to know so it's literally exactly like you would ride any bicycle the pedals and brakes work exactly the same the only difference is this somebody else never wear a helmet on television that's just that's a blackmail photo for the rest of your life oh yeah that is very cool oh yeah oh i'm gonna catch kevin that's what i'm gonna do yeah look at that like riding a bike flying chasing the blind oh my god where's the brakes you gotta pedal backwards wow here we go [Music] are you a kickstarter an indiegogo we only launched the company about four months ago we raised 1.26 million on kickstarter wow and after that we've been we've had a little over two hundred thousand on our website directly through residual media and are you shipping or still prototyping we're gonna be shipping in like two months two months i don't think we know the price no we don't do we have skipper price what is the price it'll retail for 950. uh right now it's before the wheel for the wheel isn't it cheaper to buy an electric bike it depends on the bike you can get an electric bike for under 9.50 you get an electric bike for almost 500 but it's the quality of electric bike that you're getting we haven't seen that a problem with our with our pre-order customers is the market opportunity for this just the bikes that are out there today that don't have electric yet we feel it's there's a hurdle to biking for people if i get anxious if i get on a bike regular bike i'll get tired i'm anxious about going up hills i'll be anxious about getting sweating on my way to work right you don't have to sell us on the promise of electric bikes i own a couple of them we're going in a direction where all bikes that are shipped ultimately are going to have an electric option in them would you ever make a bike that's what i'm trying to ask you uh i want to i want to show you something real fast we we don't make any bikes currently we made something different that is a cool bike i love the banana seat what do you got this is how it works you just sit on it and it's the same thing it looks looks i love that bike it's very tight turning nice tight turning there is nothing you cannot do anything like this with any other technology so this is also something we sell and this is a full electric bike it's extremely nimble it's extremely small you put it on the trunk of your car you say you're selling them for 950 this is 200 in addition where are you prioritizing your time on the new bike or that wheel oh the bike was a side note the bike was for fun to be honest that was the opposite of the answer i wanted to hear this is going to be as fast as last season's dallas mavericks playoff highlight reel i believe that i just say that highlight reel you oh wait you don't have a team you don't have any highlights of anything do you oh my god that's literally your only comeback oh that was a zinger i believe in the space electric bikes are here to stay there's no doubt about it i just really like to invest in the thing that's forward-looking not the thing that's retrofitted to the existing technology if you told me you were moving on this bike that i think as goofy as it looks right now is really innovative that would have gotten me more excited i think there's a good short-term opportunity in retrofitting existing bikes but i want to be betting on the long-term electric native bikes so for that reason i'm out retrofitting current to make it future is the future we're making electric vehicles out of stuff that's collecting dust in your basement this is the future one of the biggest challenges having been in multiple bike companies is sales and distribution right inevitably there's an initial jump online you get that initial surge that you're going through right now but it's just such a competitive environment it is just so hard to compete to sell bikes against the big box retailers to small shops and all the different alternatives it's just not a business i want to be in so for those reasons i'm out thank you but let me also add as far as how we grow right so we're direct to consumer now uh in the next two years we want to do a lot more fleet delivery services police so does everybody so does everybody every motorized vehicle but we don't they don't need new bikes it's kind of police bike shares have their current bikes at 950 a unit even significantly discounted that's going to be a big hurdle to overcome to me there's three rules to a great product is it something that people need and want is it something that solves a problem which clearly does can it be made at an affordable price you have number one you have number two right now you don't have number three and for that reason sadly i'm out [Music] i live in the back bay in boston in a tiny brownstone in a tiny elevator and that bike the little one fits in it so i'm going to come over and buy one but i think you need another couple of iterations to get the cost down i think it has to go below 300. guys i'm a buyer of the small bike but not the company i'm out okay you still have one shark left i'm so intrigued by this little bike i even named it already i'd call it the bug it just looks like a bug to me you know [Laughter] um i think it's going to be hard to sell this i think the price is too high i probably just buy myself an electric bike because i can't picture myself swapping and i think i'm not going to be alone in that regard so i'm going to join kevin and buy one too but i'm out thank you thank you guys i appreciate it thank you guys good luck with everything [Music] although we didn't strike a deal with the sharks today it's definitely not there for georgia we're just getting rolling you

Channel: Shark Tank Global

Views: 1,205,225

Keywords: Shark Tank, Shark Tank US, Shark Tank Australia, Kevin O’Leary, Barbara Corcoran, Daymond John, Robert Herjavec, Mark Cuban, Lori Greiner, Dragons’ Den, Money Tigers, Entrepreneurship, investment, reality tv, geoorbital wheel shark tank, geoorbital electric bike wheel, geoorbital shark tank, geoorbital bike

Id: p39egQvv5vI

Length: 7min 52sec (472 seconds)

Published: Thu Jul 28 2022