Forcite is a technology company that has created a mass-produced smart motorcycle helmet with ECE 22.05 (EU/Australian safety standard) certification, patented visual alerting system, integrated camera and audio technology. 

The company was born out of firsthand experience, when in 2013, motorbike enthusiast Alfred Boyadgis took a fall going through an oil slick, injuring his knee. It transpired that the camera mount had smashed the side of his helmet compromising the protection to his head. Aside from bolt-on devices not being designed for helmets, the thought did strike him that given modern sophisticated camera, sensor and tracking technology like we see in luxury cars, we should be able to anticipate such hazards. This would allow riders to take evasive action before those hazards become a danger.

Together with fellow industrial designer Julian Chow, the two founders quit their jobs and set out to create a system from the ground up; one that not only provided superior protection, but also reinvented the riding experience for the better. The team initially employed the help of their local riding community during the product development phase. This eventually extended to include the broader Australian riding community and beyond, via a private Facebook group known as the “Forcite Test-Pilots” that would ultimately peak at over 14,000 riders. The pair developed a unique system that could successfully foresee hazards well before they were encountered, significantly improving rider safety. To date the team has raised over $8 million from grants and venture capital, and other shareholder funding, and in 2020 the Forcite MK1 smart helmet was delivered to market in mass production form. 

Forcite has achieved strong traction to date, having shipped almost 1,380 smart helmets in Australia, and has a register of interest of over 13,000 individuals with approximately 50% being Australian, and over 21% coming from the US, and growing rapidly by the day.

Forcite are currently preparing for the launch of the MK1S, next generation of helmet. The MK1S is a facelifted version of the MK1 featuring numerous upgrades and refinements driven by user feedback. To support the launch, Forcite has partnered with a leading Australian ecommerce web development and design agency and is on target to be going live with a premium new website and online campaign, taking online orders again in the quarter ended 31 March 2022.

The global market for premium helmets is currently estimated as a AUD2.6 billion per annum opportunity and growing rapidly. A helmet is considered in the premium category with a recommended retail price of AUD500-1000. Forcite produces one of the first smart helmets in the world with both safety approval and four patents (one international, two provisional and one PCT - Patent Cooperation Treaty), and the ambition to own 20% market share within the next five years. The founders are product design experts, and their vision is to release 4 new styles of helmets and on-bike computer vision systems. 

The funds raised will allow for additional inventory and investment to expand sales internationally in 2022, as well as accelerating new partnerships and hires from leading brands to improve and expand existing systems. 

Subject to Terms & Conditions and can be varied at Directors discretion.

The Forcite product currently consists of a three-layered ecosystem.

A custom server/software system that gathers information and passes it on to the mobile app, which acts as the interface and control room for the hardware aspect that is the helmet and Bluetooth controller. Forcite utilises a unique helmet design that focuses on seamlessly integrating technology whilst ensuring safety, design efficiency and ease of use for riders whilst on the road.

The most unique and innovative feature of the MK1 helmet system, “Forcite RAYDAR”, a peripheral LED light array with light sensing technology, is patented and transmits information about upcoming road events such as speed traps in the area, traffic and weather updates, speed warnings, and navigational instructions. Future product iterations will see the inclusion of blind spot and collision warnings to be delivered to the rider whilst they are at speed through light patterns and audio signals.

HD Recording

The MK1 integrated SONY camera records in 1080p @ 60fps with excellent low light capability, providing the wearer with peace of mind in almost all conditions, while auto-record functionality provides exceptional ease of use. It is also the only way to capture point-of-view footage on racetracks around the world due to bans on externally mounted devices.

Pre-emptive road alerts and navigation

Wearers receive real time information on upcoming road conditions, as well as turn-by-turn navigation instructions via audio and visual cues, allowing them to always keep their gaze on the road ahead.

Built-in audio and phone communication

The MK1’s built-in audio and communication system features high end speakers and a dual microphone setup, allowing riders to easily communicate with each other whilst on the road. In addition, it allows riders to take phone calls, listen to music, and receive audio alerts, eliminating the need for cumbersome and dangerous externally mounted devices.

Lightweight, compact, certified

The Forcite MK1 is on average up to 15% lighter than competing products like the SENA Momentum Pro, or similar helmets that do not meet ECE 22.05 certification while maintaining sleek and conventional proportions allowing for optimal performance. This is possible thanks to Forcite’s patented electronics mounting mechanism located in the chin section of the helmet.

Forcite currently operates a direct-to-consumer (D2C) business model, with current revenue generated through sales of its MK1 helmet and accessories. The helmet is paired with a handlebar control and a mobile app that provides access to music, phone calls, camera control and critical GPS informed alerts on speed traps and upcoming hazards. The app is currently offered free as part of the helmet purchase.

The D2C strategy will be supplemented by testing the installation of sales kiosks at landmark motorcycle distributorships in key geographies. These would be expected to drive 10% of sales, but provide an opportunity for customers who are unwilling to purchase online or who typically purchase their equipment at a dealership to try the product.

Forcite is also actively exploring a hardware-as-a-service (HaaS) based subscription model for its MK2 helmet. This will improve predictability of cashflow, allow better forecasting and capital allocation and provide our customers with a flexible payment option. 

In terms of our logistics and supply chain, helmet components are manufactured in Taiwan followed by assembly and initial testing quality control. Products are then shipped to Australia and Forcite’s distribution centre for further quality control testing, final assembly and preparation for shipping.

For further information please see section 2.5 of the Offer Document.

Forcite currently operates a direct-to-consumer (D2C) business model, with current revenue generated through sales of its MK1 helmet and accessories. The helmet is paired with a handlebar control and a mobile app that provides access to music, phone calls, camera control and critical GPS informed alerts on speed traps and upcoming hazards. The app is currently offered free as part of the helmet purchase.

The D2C strategy will be supplemented by testing the installation of sales kiosks at landmark motorcycle distributorships in key geographies. These would be expected to drive 10% of sales but provide an opportunity for customers who are unwilling to purchase online or who typically purchase their equipment at a dealership to try the product.

Forcite is also actively exploring a hardware-as-a-service (HaaS) based subscription model for its MK2 helmet. This will improve predictability of cashflow, allow better forecasting and capital allocation and provide our customers with a flexible payment option. 

In terms of our logistics and supply chain, helmet components are manufactured in Taiwan followed by assembly and initial testing quality control. Products are then shipped to Australia and Forcite’s distribution centre for further quality control testing, final assembly and preparation for shipping.

For further information please see section 2.5 of the Offer Document.

The global motorcycle revenue market size was USD 278 billion in 2020. The global impact of COVID-19 has been unprecedented and staggering, with motorcycles witnessing a positive demand shock across all regions amid the pandemic. Based on industry analysis, the global market is estimated to exhibit growth of 6.87% in 2021. 

The motorcycle industry across Australia and internationally is experiencing consistent year on year growth with the global market for gear and accessories at $35b growing at a CAGR of 7.2% In 2020 there were a total of 881,000 motorcycles in Australia, a 2% increase from 2019. In both the US and EU there are 10x the number of motorcycles than in Australia representing the significant opportunities those markets present to Forcite.

Across the US, EU and Australian markets >4 million motorcycle helmets are sold each year. Data shows that on average, helmets are replaced every 4-5 years.

It is estimated that there are approximately 5 million helmets sold across Australia, the US and Europe annually, driven by a combination of helmets replacements and purchase of helmets with a new motorbike.

Forcite stands alone as the only company in the world to have designed, developed, certified, mass produced, and delivered a true smart helmet to almost 1,380 customers and counting. With an in-market product, and cornerstone customer base acting as a positive soundboard, Forcite is a reputable industry leader specifically in the smart helmet/motorcycle technology space.

To the general motorcycle/gear market, Forcite is an ultra-premium, innovative, community driven direct brand with an obsessive commitment to customer satisfaction. Forcite helmets sit near the top of the existing premium price range but are still affordable/accessible to the average premium customer. Forcite offers best in class technology and functionality, without creating a new price point.

The premium motorcycle gear market is worth USD 2.7 billion per annum, and Forcite’s strategy is to control 20% of the market share by 2025 across helmets and accessories.

For more information please see section 2.9 of the Offer Document.

We have chosen to raise capital through equity crowdfunding to give our customers and partners a chance to become shareholders. Since day one, Forcite was designed by riders for riders, and our earliest supporters were other rider enthusiasts who shared in our vision. 

It made sense to allow our earliest supporters the opportunity to become co-owners in the business, to help drive our growth and ensure we remain community focused. As the brand grows, we hope to allow these investors to share in our future success.

In summary, this money will help us to buy additional inventory and ship our products internationally.