Watteam

Company Overview

Snapshot

Founded in June 2011, Watteam developed POWERBEAT, an affordable add-on power meter for cyclists. The company had 1–10 employees and raised $5 million across one funding round. In November 2018, Watteam suspended production of its power meter and began seeking strategic partners.

Business overview

Watteam is a developer and provider of cycling technology, specifically the POWERBEAT add-on power meter. This product is designed to offer accurate and consistent power readings based on actual force applied, without requiring cyclists to replace existing bike components. The company operates within the Automotive & Mobility Technologies sector, targeting consumers, particularly bike and scooter riders, with its smart mobility and sports technology solutions.

Strategic signal

In November 2018, Watteam announced the suspension of production for its POWERBEAT power meter and initiated a search for strategic partners. This development signals a critical operational shift for the company, indicating a potential pivot in its business model or a significant challenge in its manufacturing and distribution strategy within the competitive cycling technology market.

Company Intelligence Q&A

What is Watteam's primary product?

Watteam's primary product is POWERBEAT, an affordable add-on power meter designed for cyclists to provide accurate power readings without replacing bike components.

When was Watteam founded?

Watteam was founded in June 2011.

What was a significant operational change for Watteam in late 2018?

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

How much capital has Watteam raised?

Watteam has raised $5 million in total funding.

What is the status of Watteam?

Watteam is currently non-active, having ceased operations in November 2019.