SANTA CRUZ, Calif.--(BUSINESS WIRE)--Central Coast Angels, an investment group formed with the objective of providing capital and mentorship to entrepreneurial companies in the Monterey Bay region, has backed personal electric transportation leader Inboard Technology.
The group, made up of over 20 members who meet monthly to evaluate start-up companies, identified Inboard as an ideal company for investment. “Inboard’s first product offering, the M1 electric skateboard, will be part of the next wave in personal transportation,” said Ed Colligan, member of the Central Coast Angels, and former President and CEO of Palm. “Their product, brand and management team, many of whom are action sports experts, are a perfect fit for Santa Cruz. We believe they have an excellent opportunity to build a diverse product line and scale into a major personal electric transportation company in our region.”
“Having Central Coast Angels, who are located in our backyard, as investors and advisors is an invaluable asset,” said Ryan Evans, CEO of Inboard Technology. “It’s great to see they share our vision for the potential of personal electric lightweight transportation, and have the resources and expertise within their team to help us bring our broad product line to market.”
Central Coast Angels was founded in 2013 by a group of entrepreneurs committed to the Monterey Bay region that share a vision of increased opportunity for the people who live here. They provide early-stage financing to select innovative companies who are building businesses located in the region.
Inboard Technology Inc. was founded in 2014 and is at the forefront of the emerging personal electric transportation space. They are known for their feature rich products and a design aesthetic unmatched in the market today. Inboard Technology is based in Santa Cruz, California.
