Vanhawks has been acquired by Concord, Ontario-based automotive parts manufacturer Warren Industries, according to a report from Techvibes. Vanhawks will continue to build products under Warren Industries, and will function as an independent subsidiary of the manufacturer.
“Innovation by design and working to create a safer ride for our passengers are two of the cornerstones of Warren Industries’ operations, and we have found an ideological equal in Vanhawks,” said David Freedman, CEO of Warren Industries. “This partnership will allow both Warren Industries and Vanhawks to play a bigger role in driving new trends in urban transportation and development in the right direction.”
Founded in 2014, the company ran a highly-successful Kickstarter campaign for its Valour smart bike, a smart bike featuring bluetooth to connect to a user’s smartphone for directions and LED indicators. After raising $820,000, Vanhawks raised $1.6 million from Real Ventures the following year.
By 2016, the company had reportedly run out of money and laid off its entire staff. The company later pivoted to an online and offline sales model.
Vanhawks Valour will continue to be manufactured, and company spokesperson, Dani Frank, said that the desire is still “very strong, with purchase orders arriving daily.” The company has 150 units in stock and ready to ship, and all team members are still on board and the organization will be bringing on new team members in the coming weeks.
“The resources, insights and technologies that Warren Industries holds in the automotive industry will be invaluable as we prepare to enter the next stage of Vanhawks’ already explosive growth,” said Sohaib Zahid, CEO of Vanhawks. “Their strengths perfectly complement our business needs and we look forward to what we can accomplish with such a strong partner.”
The Vanhawks Valour network currently has riders in 42 countries, with nearly 1,000 bikes sold.