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Monimoto

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Monimoto
Company typePrivate
IndustryGPS Tracking, Anti-theft devices
FoundedNovember 3, 2016
FounderRolandas Dranseika, Antanas Masevičius, Andrius Bruno Rimkūnas
HeadquartersLithuania
Area served
Worldwide
Key people
Rolandas Dranseika (CEO), Antanas Masevičius (CTO), Andrius Bruno Rimkūnas (Business Developer)
ProductsAnti-theft GPS trackers for motorcycles, ATVs, golf carts, boats
Number of employees
15
Websitehttps://monimoto.com

Monimoto is a Lithuanian-based company that produces anti-theft GPS tracking devices for motorcycles, scooters, ATVs, golf carts, boats, and other mobile assets.

History

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Monimoto was founded on November 3, 2016, in Vilnius, Lithuania, by Rolandas Dranseika (CEO and product manager), Antanas Masevičius (CTO and architect of software, cybersecurity, and telecommunications), and Andrius Bruno Rimkūnas (marketer and business developer).[1][2] The idea for the company originated in 2013, when Andrius Rimkūnas met Rolandas Dranseika, then the CEO of ELDES alarms, and suggested creating a bicycle tracker.[3][4] In 2014, the Monimoto brand was registered under ELDES alarms, and a prototype was developed. However, due to limited resources, the project was paused in 2015.[5]

In 2016, ELDES alarms sold the Monimoto project to Rolandas Dranseika and Andrius Rimkūnas, and Antanas Masevičius joined as the third co-founder. The company officially launched with the support of Aurelijus Rusteika, an angel investor and the founder of TOPOCENTRAS, Lithuania's largest consumer electronics retailer.[6]

From 2016 to 2019, Monimoto focused on product development, expanding from one employee to a small team that handled customer service, sales, and marketing.[6][7] In 2018, Monimoto was awarded "Spin-off Startup of the Year" by the Startup Awards, organized by BZN Start.[8]

In 2019, the company received a €300,000 investment from Iron Wolf Capital and began scaling its operations.[9][10][11] By 2020, Monimoto surpassed €1 million in sales revenues,[12] and in 2021, the company launched the Monimoto 7 GPS tracker in Europe, the UK, and the US.[13] In 2022, Monimoto was recognized as a "Nifty 50 Top Products Winter/Spring 2022" by PowerSports Business.[14][15]

In 2024, the company released its latest product, the Monimoto 9 GPS tracker, featuring a smaller size and rechargeable battery.[16][17][13]

Products

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Monimoto specializes in anti-theft GPS tracking devices for a range of mobile assets. The company's product line includes:

  • Monimoto MM5 (2G) – A wireless, battery-powered anti-theft tracker for motorcycles with European coverage.[18]
  • Monimoto MM6 (3G) – A smart anti-theft GPS tracker system for motorcycles, scooters, and mopeds, using 2G and 3G frequencies worldwide.[19]
  • Monimoto 7 – A battery-powered, LTE-M anti-theft GPS tracker designed for the US and European markets.[20]
  • Cycloop Tracker – A frame-mounted GPS tracker specifically for bicycles.[21]
  • Monimoto 9 – featuring a smaller size, a rechargeable battery, and versatile use for motorcycles, ATVs, RVs, and golf carts, utilizing the LTE-M and 2G network.[16]

Monimoto's products are sold in several regions, with a significant portion of sales from the United States and the United Kingdom. Additionally, Monimoto products are distributed in various European countries, as well as in Japan, Australia, and other regions. In the US, Monimoto products are distributed by Comoto Holdings, which includes retailers like RevZilla, Cycle Gear, and J&P Cycles. In the UK, Monimoto trackers are available at most motorcycle accessory stores.[22][23][24]

References

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  1. ^ "Monimoto". rekvizitai.vz.lt. Retrieved 2024-10-29.
  2. ^ Hewitt, Sam (10 December 2020). "Monimoto gets funding to fight motorcycle theft". mslmagazine.co.uk. Retrieved 2024-10-29.
  3. ^ "Monimoto - Founders and Board of Directors - Tracxn". tracxn.com. 2024-10-27. Retrieved 2024-10-29.
  4. ^ "Monimoto". NAVA. Retrieved 2024-10-29.
  5. ^ "Monimoto - Products, Competitors, Financials, Employees, Headquarters Locations". www.cbinsights.com. Retrieved 2024-10-29.
  6. ^ a b "Monimoto Raised 50K EUR For Its Smart Motorcycle Alarm Shipping to Begin in Spring". startuplithuania.com. Retrieved 2024-10-29.
  7. ^ "Invisible design against the thefts "Monimoto" – Desdorp". Retrieved 2024-10-29.
  8. ^ Glaveckaitė, Živilė (2018-12-10). "Išrinkti geriausi 2018 metų startuoliai". bznstart (in Lithuanian). Retrieved 2024-10-29.
  9. ^ "Iron Wolf Capital Fund launched". ilte.lt. 2019-01-08. Retrieved 2024-10-29.
  10. ^ Cooper, Lanna. "Monimoto Extends Opportunity to Invest in the Fight against Motorcycle Theft". Startups Magazine. Retrieved 2024-10-29.
  11. ^ "Monimoto Successfully Secures €400,000 In Total Funding From 392 Investors". startuplithuania.com. 2021-01-21. Retrieved 2024-10-29.
  12. ^ "Monimoto UAB". crowdcube.eu. Retrieved 2024-10-29.
  13. ^ a b "Monimoto launched their newest advancement in anti-theft GPS tracking technology". thepack.news. 2024-06-27. Retrieved 2024-10-29.
  14. ^ "Nifty 50 nomination deadline less than a month away". Powersports Business. 2022-05-05. Retrieved 2024-10-29.
  15. ^ "Powersports Business - February 2022". powersportsbusiness.com. Archived from the original on 2022-02-09. Retrieved 2024-10-29.
  16. ^ a b O'Hop, Hank (2024-07-12). "Monimoto 9 GPS Tracker Hands-On Review: Cheap Tracking You Need". The Drive. Retrieved 2024-10-29.
  17. ^ "Construction Executive Magazine - September-October 2024 - page26". www.constructionexec-pageviewer.com. Retrieved 2024-10-29.
  18. ^ "Monimoto MM5 Motorcycle Tracker Review". Beginner Biker Adventures. 2021-06-20. Retrieved 2024-10-29.
  19. ^ "Gear Review: Monimoto MM6 Tracking System". RideApart.com. Retrieved 2024-10-29.
  20. ^ Drevenstedt, Greg (2021-11-23). "Monimoto 7 Anti-Theft GPS Tracker". Rider Magazine. Retrieved 2024-10-29.
  21. ^ "Monimoto Cycloop Tracker". road.cc. 2023-05-11. Retrieved 2024-10-29.
  22. ^ "Monimoto 9 GPS Motorcycle Tracker Review". Rider Magazine. 2024-08-30. Retrieved 2024-10-29.
  23. ^ "Monimoto 7 review | Self-monitored tracker tested". Bennetts BikeSocial Membership. Retrieved 2024-10-29.
  24. ^ Johnson, Billy (2024-06-02). "Monimoto 9 first look: the most convenient motorcycle tracker yet?". Adventure Bike Rider. Retrieved 2024-10-29.
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