Watteam

Company Overview

Snapshot

Founded in June 2011, Watteam operated with 1–10 employees and raised $5 million across one funding round from Eyal Shahar. The company ceased operations in November 2019.

Business overview

Watteam developed POWERBEAT, an affordable add-on power meter for cyclists. This technology allowed cyclists to integrate a power meter without replacing existing bike components, providing accurate power readings based on actual force applied. The company operated in the Automotive & Mobility Technologies sector, specifically targeting consumers in the transportation and mobility market, including bike and scooter riders.

Strategic signal

In November 2018, Watteam suspended production of its power meter and began seeking strategic partners. This indicated a critical operational shift and a need for external collaboration or investment to continue its business, ultimately leading to the company ceasing operations in November 2019.

Company Intelligence Q&A

What was the primary product offered by Watteam?

Watteam developed POWERBEAT, an affordable add-on power meter designed for cyclists to provide accurate and consistent power readings based on the actual force applied.

When did Watteam cease its operations?

Watteam ceased to operate in November 2019.

What was the last reported strategic move by Watteam before ceasing operations?

In November 2018, Watteam suspended production of its power meters and began looking for strategic partners.

What was the total capital raised by Watteam?

Watteam raised a total of $5 million across one funding round.

What was a key feature of Watteam's POWERBEAT product?

The POWERBEAT power meter was designed to be simple and intuitive, allowing cyclists to use their existing cranks, pedals, and other components without replacement.