Velo Labs is a remote power, Internet of Things company. Our first product, Skylock, is a wireless enabled bike lock and smartphone application that will change the way people interact with their bicycle. Skylock provides remote access, monitoring, and emergency reporting to increase safety and security better than any bike lock in the world.
We are also leveraging Skylock as an intermediary for the next generation bikeshare platform: a flexible bikeshare system that is 50% cheaper in capital and operational costs than current fixed bikeshare fleets. We generate revenue by margins on our lock and through subscription fees to our enterprise fleet management SaaS solution.