Investing in startups gives us a chance to improve our present and future by solving critical problems in business. Investing early in pioneers in various sectors and industries is a second big plus. Additionally, it is nice to support companies that need capital to grow.
StartEngine is an equity crowdfunding platform with more than 760,000 prospective investors in its community and more than 500 offerings that have been successfully funded. They have a vast choice of startups for people to invest in. Here are seven names that could well be the best startups on the StartEngine platform right now. They are companies that are among the most funded, a strong signal of a successful business plan and idea.
Here are seven of the best startups to invest in on StartEngine nοw:
- OYO Fitness
- Boaz Bikes
- Flash Scientific Technology
- Area 13 EBikes
- Vxtra Health
- A Band Of Anglers
Best Startups: OYO Fitness
OYO Fitness is a fast-growing international health and fitness company with a mission to make fitness accessible to people worldwide. The firm’s SpiraFlex technology was developed for NASA as a way of training astronauts on the International Space Station. This innovative technology is identical to using weights to exercise, but without the weight.
Nowadays, it is hard to find time to exercise regularly. You need both time and the proper equipment. OYO Fitness solves this problem by providing portable gyms and solutions that can help you get fit anytime and anywhere. Equipped with the Spiraflex technology, NOVA and OYO Gyms are a full gym in your hands that you can use at home, at the office, or when you travel.
OYO Fitness has developed a new product pipeline, such as NOVA Gym II, SpiraGym Home Gym and its OYO Connected Platform that offers a subscription service providing streaming workouts. They also offer branded apparel and accessories. This helps add to revenue, which is more than $15 million since January 2020.
OYO Fitness targets the international fitness markets with distributors in key areas, such as the E.U., Singapore, Hong Kong, and the U.K. It envisions becoming a dominant brand not only in fitness, but also in apparel and massage, as well.
The minimum investment in OYO Fitness on StartEngine is $250.
Boaz Bikes is an eco-conscious micro-mobility company that is Black-owned and Woman-owned. The vision for the brand is built on a mix of three important factors: its superior product, its unique place in the market and its management team.
Boaz Bikes makes electric scooters for rides that are affordable, reliable and naturally safe. The firm’s sit-down e-scooters have features that make them stand out from the competition, like bigger tires and a larger foot deck for comfort in the city streets, a foldable neck for easy transportation and a basket for placing items for a hands-free riding experience.
These scooters are charged per minute. Users can manage the rental via an app, with each vehicle generating an average daily revenue of $18.90. Business operations, for now, include five cities: Plano, Detroit, Tempe, Dallas, and Scottsdale. This summer, they will launch in Los Angeles and Austin, as well.
Boaz Bikes is the first entrant in the promising sit-down shared e-scooter market, targeting a total addressable market expected to grow to $10 billion over the next four years.
The minimum investment in Boaz Bikes on StartEngine is $250.
Best Startups: Flash Scientific Technology
Flash Scientific Technology is a company focusing on weather forecasting and especially on lightning. Its lightning prediction technology can accurately predict the first strike. It can be used to save lives with a patented algorithm that analyzes meteorological data and conditions before a storm develops. What is very interesting to note is that this technology not only can predict the first lightning strike, but also the last one. This is very helpful for public events, such as concerts or tournaments.
This lighting prediction technology focuses on saving lives, but it is equally important in saving time and money, too. This can also be helpful for airline companies to more effectively manage canceled flights in cases of extreme weather. Some of the notable features are 15-25 minutes of lead time before any lighting with a remarkable 96.5% accuracy during summer and 99.6% accuracy in all other seasons.
It is estimated that more than 2,000 people die each year due to lightning in 24 countries. The yearly cost of weather losses to the U.S. economy is not negligible, as it is estimated to be between $6 billion and $7 billion. The weather industry is a multibillion dollar industry and Flash Scientific Technology can be useful in many markets, such as aviation, public safety and insurance.
The minimum investment in Flash Scientific Technology on StartEngine is $345.
Area 13 Ebikes
Area 13 is an electric bicycle company that is well-positioned in the fast-growing electric bicycle industry. It offers a unique proposition to help people who are considering buying an electric bicycle. What do most people need in purchasing an electric bicycle to be satisfied? They need information on three main parameters: performance, quality, and price. These parameters are the unique selling point of Area 13.
Area 13 Ebikes focuses on high quality, performance and value for money. The business generates revenue from ebike sales and from selling ebike parts. What is notable is that rather than spending a considerable amount on advertising and marketing to generate sales, the company has a YouTube channel that has more than 10 million organic views and more than 100,000 downloads on its podcasts. This drives sales, eliminating the costs for advertising expenses.
The traction is present, with large revenue growth from $600,000 to more than $4 million from 2019 to 2020. The electric bicycle market is growing fast, expected to reach $52.36 billion by 2028.
The minimum investment in Area 13 Ebikes on StartEngine is $250.
Best Startups: Vxtra Health
Vxtra Health is a company that provides health insurance solutions and defines itself as a “start over” rather than a startup. Why is it a start over? Because there is a severe problem to solve. It believes that “health insurance has become a burden rather than a benefit,” and there are inefficiencies in doctor-patient relationships that have made health insurance costly and not ideal in terms of the total experience. This is mainly attributed to health insurance companies.
Vxtra Health develops and manages health plans by collaborating with the best local doctors. It also leverages open-source technologies not only to decrease costs, but to deliver much better health outcomes and improve the experience for all parties involved. This includes employers, employees and doctors.
The core focus is on the self-insured employer’s market, which the firm considers a highly fragmented $26 billion market with considerable annual growth of 11%. The business model is cost-effective and scalable based on management fees and monthly client fees.
The minimum investment in Vxtra Health on StartEngine is $400.
A Band Of Anglers
What is the most annoying thing when you go fishing? I would say it’s spending countless hours without getting rewarded for your results or skills. What if you had better chances of catching fish? The solution is innovative fishing lures that A Band of Anglers makes to help you catch fish no matter what your skills are.
Fishing is very popular. It is estimated that in 2020, 18% of the U.S. population went fishing. Fish have over time become more sophisticated and modern technologies are needed for people to take them out of their habitat environment.
The lures made by A Band Of Anglers increase the odds of catching fish by implementing innovations based on either action, durability, or increased performance. They are also fun to use.
Lures are not the only products offered by the firm. There are plans to expand to fishing rods, apparel, reels, tackle boxes and fishing lines. The total addressable fishing tackle market is estimated to be $6 billion in the U.S. market and $15 billion globally.
The minimum investment in A Band Of Anglers on StartEngine is $200.
Best Startups: Nimbus
Nimbus is a company that wants to power the world with light. How is this possible? Nimbus’ patented Power Relay Technology uses light to wirelessly transmit energy. This energy can be used in many cases, from charging warehouse robotics used by large companies to charging electric vehicles.
The e-commerce industry that uses industrial robots cannot rely on batteries as means of energy forever. This is because batteries are both expensive and have a finite life cycle. Nimbus instead uses Power Relays that convert their LED spotlight at a 50 foot distance to pure energy and electricity. And this energy is made in a renewable way.
The business model generates revenue by selling hardware to retail corporations on a monthly subscription fee and by developing custom projects for customers. The Relays have a duration of more than 15 years, which means recurring revenue is very likely.
The e-commerce market is the targeted market, which is expected to grow to $7.5 trillion by 2026. It also targets the industrial automation market, which is projected to become a $355 billion market by 2028. The good news is that the technology applies to other markets, as well, like consumer electronics and the fast-growing electric vehicle charging market.
The minimum investment in Nimbus on StartEngine is $248.96.
On the date of publication, Stavros Georgiadis, CFA did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.