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 is Watteam's primary product?

Watteam's primary product is POWERBEAT, an affordable add-on power meter designed for cyclists to provide accurate and consistent power readings without requiring replacement of bike parts.

When did Watteam cease operations?

Watteam ceased to operate in November 2019, following a period where it had suspended production and sought strategic partners.

What was the last significant operational update for Watteam?

In November 2018, Watteam suspended production of its power meter and began actively seeking strategic partners to support its business.

How much capital did Watteam raise?

Watteam raised a total of $5 million in April 2018, with Eyal Shahar as an investor.

When was Watteam founded?

Watteam was founded in June 2011.