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EVELO is a direct-to-consumer designer and manufacturer of electric bicycles featuring mid-drive motor systems, originally based in Cambridge, Massachusetts, and currently operating out of Seattle, Washington. The enterprise manages operations spanning New York, Boston, Seattle, and California to support a national customer base of commuters and recreational cyclists. The product portfolio includes electric bicycle models such as the Aries, Aurora, Orion, and Luna, distributed through online channels alongside a dedicated physical retail storefront for test rides. To support product development and inventory expansion, the business raised investment capital and established overseas manufacturing partnerships. These partnerships facilitated the introduction of a 500-watt, 48-volt mid-drive drivetrain integrated into their primary OEM bicycles. Recording its first customer purchase in early March, EVELO was officially founded in 2012 by co-founders Boris Mordkovich and Yevgeniy Mordkovich.
EVELO. has raised $750K across 1 funding round.
EVELO. has raised $750K in total across 1 funding round.
EVELO. has raised $750K across 1 funding round. Most recently, it raised $750K Seed in December 2015.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Dec 1, 2015 | $750K Seed | — | Cradlex, DSG Consumer Partners, Foundry Group, Rajan Anandan, Mark Solon, Shashank V Singh | Announced |
EVELO. has raised $750K in total across 1 funding round.
EVELO.'s investors include CradleX, DSG Consumer Partners, Foundry Group, Rajan Anandan, Mark Solon, Shashank V Singh.
EVELO is a direct-to-consumer electric bicycle company specializing in premium eBikes and eTrikes for commuting, recreation, and exercise, targeting US consumers with advanced features like mid-drive motors, continuously variable transmissions (CVT), and carbon belt drivetrains.[1][2][4][6] Founded in 2012 and headquartered in Seattle with teams in Boston and New York, EVELO serves everyday riders seeking effortless, powerful alternatives to cars or traditional bikes, solving urban mobility challenges through easy-to-ride designs backed by a 4-year/20,000-mile warranty and 21-day home trial.[2][3][5][6] The company has raised $710K total funding, maintains steady growth with $7.8M revenue and 28 employees, and has expanded its lineup amid eBike demand surges like during COVID-19.[1][2][5]
EVELO was co-founded in 2012 by Boris Mordkovich (CEO, Boston) and Yevgeniy Mordkovich (COO, Queens, NY), with Boris leading early innovation through a 4,000-mile Trans-American Electric Bike Tour to test initial models.[2][3] The idea emerged from Boris's passion for electric mobility, starting with a three-model lineup including the original Luna—the market's first ultra-low step-through mid-drive eBike—and partnerships like with Fallbrook Technologies for NuVinci CVT systems (now Enviolo).[2] Pivotal moments include launching powerful 500W mid-drive drivetrains on Aries and Aurora models, introducing a 30-Day Electric Bike Challenge to promote car-free commuting, and navigating COVID-19 demand spikes by expanding sales of models like Aurora Limited, Galaxy 500, and Compass Tricycle while innovating two-wheel-drive differentials.[2] Early traction built on superior warranties (pushing industry standards) and remote customer support, evolving from New York roots to a distributed team across Seattle, Boston, California, and beyond.[2][3]
EVELO stands out in the crowded eBike market through premium engineering, customer-centric policies, and hands-on expertise:
EVELO rides the sustainable urban mobility trend, capitalizing on eBike demand for eco-friendly alternatives to cars amid climate concerns, post-COVID cycling booms, and urban congestion.[2][4] Timing aligns with global eBike market growth—spurred by logistics delays yet soaring sales—positioning EVELO's US direct-to-consumer model against competitors like Riide, JackRabbit, Modmo, and Wing Bikes, which focus on urban portability or tracking.[1] Favorable forces include rising consumer shift to active lifestyles, premium component adoption (e.g., CVT for intuitive shifting), and EVELO's influence in elevating warranties and trials, pushing industry standards while fostering eTrike innovation for accessibility.[2][6] In tech ecosystems, it contributes to micromobility by blending hardware with app features, reducing car dependency in cities like New York and Seattle.
EVELO's momentum—fueled by best-sellers like Omega ($3,999), Galaxy Lux ($3,499), Atlas, and Compass eTrike—positions it for continued expansion in premium eBikes, with new models incorporating frame batteries and enhanced drivetrains.[2][6] Upcoming trends like integrated AI assist, longer-range batteries, and eTrike adoption for aging demographics will shape its path, alongside supply chain resilience post-COVID. Expect deeper app ecosystems, potential retail partnerships, and market share gains as eBikes become mainstream transport. As a pioneer since 2012, EVELO's commitment to "Chief Electric Officer" optimism and rider empowerment will amplify its role in electrifying everyday adventures.[2][3]
