Christini AWD Taps $3 Million in Funding
April 25, 2006
Filed under Uncategorized
Christini Technologies Inc., a pioneer in the design and development of proprietary all-wheel drive systems for motorcycles and bicycles, recently obtained $3 million through a round of equity financing led by Matthew Trattner, President of Tradewise LLC, a group of Wall Street investors including Vincent Viola, former NYMEX Chairman.
CTI's AWD motorcycle technology features a durable rigid series of shafts and gears to power the front wheel. The proprietary AWD system is entirely enclosed within the frame and head tube of the motorcycle, resulting in less than 1% power loss while adding less than 15 lbs total weight to the motorcycle.
Pennsylvania-based CTI was founded by Steve Christini in 1999 and previously received funding from Philadelphia Angel investment groups and Ben Franklin Technology Partners of Southeastern PA. The recent round of financing gives Trattner active involvement in CTI's promotional and development activities and gives him a seat on the company's Board of Directors.
Christini said the new funding will be focused on the production launch of the company's AWD motorcycle, scheduled to be available in the fall of 2006. “Strong financial backing is critical to ensuring our success and we are confident Christini AWD is now positioned for significant market exposure and very dynamic growth in 2006 and 2007,” he said.
CTI plans a rollout of more than 10 AWD motorcycles by summer 2006 to race in the eastern part of the United States. Christini said a limited production run of the Christini AWD frame kit, custom designed to fit the 2005 and 2006 Honda CRF 250, should be available by the fall of 2006.
“We look forward to a successful summer of racing and the near-term commercial launch our product,” said Christini.
Individuals interested in reserving one of the limited 2006 models are asked to call 215/351-9895 or visit www.christini.com.