SOMA Cycle, Inc Successfully Closes Seed Round Financing
Funding Secured For Launch of Zigo LEADER™
South Orange, NJ, September 25, 2007: SOMA Cycle, Inc. (dba Zigo™) today announced that it has closed a seed round financing with a single institutional investor, securing sufficient funds for the launch of its first product, the Zigo LEADER™, at the Interbike show in Las Vegas, Nevada, September 26-28, 2007.
The Zigo LEADER is a lightweight, foldable bicycle with an integrated child carrier and four distinct operating modes:
• As a three-wheeled carrier bike, with an adult cyclist turning the pedals and one or two children in the forward-located Child Pod™, it is the ideal vehicle for transporting children or recreational cycling; while riding, parents can easily keep an eye on their kids in the forward-located Child Pod.
• The Child Pod converts in seconds to a jogging stroller suitable for use on multiple surfaces.
• The Child Pod is also configurable as a maneuverable standard-format stroller with caster wheels, allowing the LEADER to be used around the neighborhood, in the mall, or on a boardwalk or walking path.
• Finally, the urban-style bicycle is light and maneuverable, with or without the detachable Child Pod.
The LEADER converts easily between these familiar and functional modes and still folds compactly for storage.
“Securing funding is a key factor in the success of our product launch,” explained Russel Bockin,Soma Cycles’ Vice President of Sales & Marketing. “We’ve developed an extraordinary product and now we have the backing to bring it to market.”
SOMA Cycle, Inc. (dba Zigo) designs and develops human powered vehicles, strollers, and carrier bikes for use by active parents or other caregivers along with their children. Its first product is the Zigo LEADER and related accessories.