Velo Labs Announces Seed Funding Raised for Skylock

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Green Transportation Pioneer Brings Solar-powered Bicycle Lock with Bike-sharing Capability to Market

SAN FRANCISCO, Jan. 18, 2016 /PRNewswire-iReach/ -- Velo Labs, creator of Skylock, the smart solar-powered, Bluetooth connected bicycle lock, is pleased to announce a $1M fundraise to bring the next generation product to market.  This seed series is led by DSCN Capital and Mesh Ventures.  To call Skylock a "bicycle lock" is a disservice to the product as it is a truly game-changing technology for the transportation industry.  Velo Labs Founder Jack Al-Kahwati sees Skylock as a disruptor for cycling, a healthy activity and green method of transportation that has seen very little innovation since its invention. Skylock has seen over 5,000 pre-orders to date and looks to deliver their first product shipments in Spring 2016.

Skylock is the only bicycle lock of its kind that is Bluetooth-enabled and connects to your smartphone allowing for keyless entry and a capacitive touch interface in case the phone runs out of battery.  Customers can rest assured knowing that the lock will never run out of power as 12 hours of sunlight will keep it running for six months.  It offers the gold standard of theft detection with a robust steel and rubber frame and 256-bit elliptic curve cryptography to keep the bicycle safe.  Another valuable feature provides crash alerts to notify your network that an accident has occurred and to send help.

Another way that Skylock is breaking the transportation mold is that it allows for bike sharing, similar to ridesharing, by enabling enterprises to deploy large bike share fleets using Skylock. Through the Skylock app, individuals will be able to pay to "unlock" and ride.  What better way to encourage greener commutes than making more bicycles on the road more easily accessible to the public.

Velo Labs is also extremely excited to be partnering with Quanta Computer, a Taiwan-based company, to manufacture Skylock.  Quanta is one of the largest, most prestigious high-tech manufacturers in the world and current customers include Apple and Dell.  According to Mr. Al-Kahwati, "We selected Quanta because of their excellence in engineering and manufacturing consumer electronics.  They have experience with large scale production, and that gives us the confidence to scale our business."  This team of Quanta engineers, quality experts and managers will be working on the following upgrades for this newest version: improving power efficiency, RF output and antenna range. 

Find out more at: www.skylock.cc

About Velo Labs

Velo Labs is building the future of sustainable transit -- a flexible and decentralized system that can scale faster and cheaper than today's centralized hubs.  Through a combination of smart hardware, and secure bike share app, the fleet will provide a dependable, convenient, and low-cost way for people to commute. Velo Labs is capitalizing on the ever-expanding appeal of on-demand services and provides a seamless bike share experience.

About Skylock

Skylock connects your biking experience, creating a seamless commute and bike share community. Our wireless enabled bike lock and smartphone application enables on-demand bike share, while increasing personal security and safety.  With keyless access and solar charged battery technology, you can reliably and conveniently ride when and where you want.  

Link to original press release