Lausanne-based startup ratioX has just been awarded a CHF 100,000 Tech Seed loan from Vaud’s Foundation for Technological Innovation (FIT). The firm has developed an automatic gearbox that makes electric bicycles easier and more durable.
Electric bikes are becoming increasingly popular, especially for people’s daily commute. And while manufacturers are continually improving battery and motor systems, there is one part that has changed little over the years: the derailleur. But today’s derailleurs tend to have relatively short lifespan and require regular maintenance.
Simon Faneco, an engineer with nine years’ experience in automotive product design, is an avid cyclist and has set about to change the way electric bikes work. He believes that their antiquated gear systems are one major reason that prevents them from becoming a more widespread form of green transportation. He therefore teamed up with three HEIG-VD professors – Alain Schorderet, Jean-Louis Ligier and Jean-Daniel Cantova – to develop an automatic gearbox, or transmissions, for electric bikes. ratioX has created a functional prototype this year and has filed patents in economic regions of interest around the world.
The transmission uses a continuously variable transmission (CVT) system similar to those currently found on motor-scooters, snowmobiles and, increasingly, cars. Since it eliminates the need for derailleurs and gear shifters, it can make electric bikes easier to handle. The novel mechanism reduces the required maintenance and increases the durability of the system.
Faneco founded ratioX in Lausanne in 2017. His company plans to initially target electric bike manufacturers in Europe, where sales are expected to grow from two million bikes in 2018 to 30 million in 2030. The European transmission market was estimated at CHF 130 million in 2018.
The CHF 100,000 Tech Seed loan from FIT comes on top of a number of other financing arrangements and partnerships that ratioX has entered into, including with Vaud’s economic development agency (SPEI), Venture Kick and Innosuisse. The company will use the FIT funding to validate its technology and further enhance the product design, such as by incorporating composite materials and an electronic control system. It also plans to hire three employees. The next goal for ratioX is to launch its gearbox on the market and win over its first users.
(Press release)
Picture taken at Innovation by Design Challenge Awards Ceremony 2019
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