Boomerang Bike on Silicon Prairie Online 2022



Boomerang Bike, with a valuation of $15.8 million, is raising funds on Silicon Prairie Online. The company has developed a GPS bike security system that uses IoT technology to prevent bike theft. The Boomerang CycloTrac is a bike alarm and GPS tracker that attaches to the bike and runs on cloud-based software through an app. Boomerang Bike is in the pre-ramp stage and generated revenues of $192,000 in 2020. The business has over 3,000 customers and expects to reach 5,000 customers soon. Kevin Fahrner founded Boomerang Bike in July 2013. The current crowdfunding campaign has a minimum target of $9,999.99 and a maximum target of $1,069,999.59. The campaign proceeds will be used for growth and expansion.

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