Starting Small
As an experienced entrepreneur, I have learned that success is not just about having a good idea, but about having the passion and drive to turn that idea into a reality. When I first bought a 3D printer to experiment with 3D printing, I never would have imagined that it would lead to the creation of the most advanced light electric vehicle, the Faraday Motion Hyperboard.
It all started with a skateboard as a foundation. I wanted to see how I could convert it into a small electric vehicle, using parts printed on typical home 3D printers combined with electrical components from radio controlled airplanes. It took some trial and error, but eventually, I created the first working prototype.
From Solo Creator to Diversified Team
As I gradually became better at using design tools like Tinkercad, 123Design, and Fusion 360, I upgraded my 3D printer to the ultimate home printer, the Ultimaker 2. With the improvement in tools, my designs advanced, everything evolved step by step, and it wasn’t long before I had created the most advanced light electric vehicle, the Faraday Motion Hyperboard. This electric skateboard was able to go 45kph and had a range of 30km, and was the most advanced light electric vehicle in the world.
Developing a prototype is one thing, getting a product to market is completely different. The Hyperboard design and complexity was just not a good match for a first product for a startup. Also, I needed help to turn the hobby into a business so I began to look for potential co-founders. After a series of events, we grew a small diversified team, all with a passion for e-mobility. With expertise in marketing, business development, software development, 3D design and mechanics, we believed we had a great foundation for taking things to the next level.
From Prototype to Product
We developed the Faraday Motion Spine and launched it at a streamed event where Constantin and Frederik built a working prototype from scratch at 3D Printhuset. We were blown away when we got 25 pre-orders from the 3D printing and maker community during the livestream and knew we were onto something.
To supplement the Spine sales, we set up a webshop selling electrical components to make custom light electric vehicles. One of our top sellers was the VESC motor controller from Benjamin Vedder, produced in Denmark by Thita. This controller was an essential part of all of our products and helped us and our customers create advanced electric vehicles.
It wasn’t long before we acquired high-value clients within the world’s leading 3D design and printing companies, such as Autodesk, Stratasys, iMaterialise, and Ultimaker.
Moving to Berlin, the Startup Capital of Europe
We moved the company to the startup capital of Europe, Berlin and successfully raised funding through a seed round led by StartupBootcamp.
We collaborated with Local Motors and consulted on the development of their autonomous bus Olli. Olli was co-created in an online community and 3D printing was used for manufacturing. This inspired us to build our own online “co-creation makerspace” to enable the community to help and inspire us to develop new products. We successfully built a small but strong community of skilled 3D printing enthusiasts, software developers, and makers.
We also developed the open source framework Pacer, for developing and controlling light electric vehicles, for FreeRTOS and ESP32 and communicating with custom remote controls and smartphones. This allowed us to expand our reach and impact and create a diversified customer portfolio with leading schools and universities, expanding the company’s reach and impact.
Making a fuzz
We were making waves in the industry and becoming known as the go-to company for all things 3D printing, light electric vehicles and mobility concepts.
Specifically, more and more players in the automotive industry began to take notice of our company. We were able to establish strategic relationships with a diverse customer portfolio, including companies such as Audi, Edag, Continental, P3 Automotive, VEHICO, Autoflight, and Carla Cargo. As a result, I was invited to share my expertise as a thought leader and Micro Mobility Expert by several car makers. For instance, I was invited to speak at Audi’s MQ! Innovation Summit in Ingolstadt and we were invited by Daimler Vans to collaborate on new last mile mobility concepts.
We built and featured a next-generation electric vehicle prototype for Cube Tech Fair in Berlin and got it signed by Apple co-founder Steve Wozniak. For the prototype, we developed our own custom CNC and large scale 3D printers. The machines were developed using MPCNC and our custom designed parts such as a 3D printer printhead.
We also showcased our 3D designs at international events like SEMA Show, Maker Faire, and FormNext Purmundus Challenge, and amassed hundreds of thousands of downloads on Thingiverse and YouMagine.
We were invited on the national television show “Dragons Den” and other TV programs, and interacted with media companies and journalists for worldwide press coverage online and in print.
But as with any startup, there were also struggles. We did not manage to get the company profitable, and the team slowly started to fall apart when we didn’t manage to raise additional funding. In the end, we sold the company to KickID, a startup in the sports technology space using an advanced camera vehicle, software, cloud and AI to evaluate talented players.
As I reflect on my journey with Faraday Motion, I realize that while we had many successes, there were also some valuable lessons to be learned.
One of the most important lessons I learned was the importance of having a solid business plan and a clear understanding of the market. While we had a great product and a talented team, we struggled to achieve profitability and secure the funding we needed to continue growing. In hindsight, we could have benefited from spending more time researching the market, identifying potential investors, and developing a more focused business plan.
Another key learning for me was the importance of building a strong team. The success of any startup depends on the people behind it, and I was fortunate to work with some incredibly talented individuals at Faraday Motion. However, as the company grew and our challenges became more complex, we struggled to keep everyone on the same page and aligned with our vision. In the future, I would focus on building a more cohesive team with a shared sense of purpose and clear lines of communication.
Furthermore, building an electric vehicle requires expertise in multiple fields, including software, electrical engineering, mechanical engineering, and materials science. It’s a complex process that requires significant investment in research and development. Electric vehicle startups require significant capital to get off the ground and compete with established companies.
One area where we excelled was in our commitment to innovation and pushing the boundaries of what was possible. From developing our own custom 3D printers to creating an open source framework for controlling light electric vehicles, we were always looking for new ways to improve our products and processes. This commitment to innovation helped us to stand out in a crowded market and attract some of the top clients in the industry.
Looking back on my experiences with Faraday Motion, I am proud of what we accomplished and grateful for the lessons I learned along the way. While there were certainly challenges and setbacks, I believe that our commitment to innovation, our talented team, and our passion for creating something truly unique helped us to make a lasting impact in the industry. As I move forward in my career, I will take these lessons with me and continue to push the boundaries of what is possible in the world of technology and entrepreneurship.
Despite the challenges, I’m proud of what we accomplished with Faraday Motion. It was an incredible journey that taught me so much about entrepreneurship, design, and innovation. And it all started with a simple idea and a 3D printer.