Okanagan Edge
Kelowna-based startup Tonit has raised $600,000 to develop a full version of its motorcycle community app thanks to Atrium Ventures.
Tonit is the all-in-one motorcycle community app developed by riders for riders.
With a free download to iOS and Android, the app helps riders connect with other riders, plan, track and share routes, post bike-related experiences, and stay safer on the road.
Company founders Jason Lotoski and Paul Kobasiuk, both motorcycle riders and enthusiasts, saw a need in the market for a convenient, community-based app for riders to do all their motorcycle-related planning and tracking.
“We are very proud to have Kelowna’s leading investors and fund groups supporting us with their wealth of knowledge, expertise and networks,” Lotoski said.
“We were very particular to who we wanted to invest because of their background and expertise, and we feel like we have the best for our company.”
The funding will be used for new team hires, app development and scalability, and market growth to meet company goals, both long and short term.
“We are pleased to be supporting Tonit at the early stages of their business growth because they have identified a very unique opportunity in the marketplace with significant upside,” said Jeff Keen of Atrium Ventures.
“The social aspect of their business model creates strong network effects which are very compelling. They can create strong barriers to competition, which helps lead to explosive growth.”
Tonit Media Solutions was founded in 2016.
Learn more at tonit.com.
Read the original article here.
