• BALKEN 

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    Website: balken.co

    Location: Gyeonggi-do, Republic of Korea

    Specialized sector: Smart City, Mobility, Service Platform

    Company overview

    Balken Mobility, founded in November 2020, is based in Hwaseong-si, Gyeonggi-do, South Korea. The company specializes in personal mobility solutions within Smart City infrastructure, offering products like the Balken PAS E-bike, an electric bicycle integrated with LG Electronics charging stations, and the BalkenM app platform for electric bicycle sharing. With a strong focus on safety, eco-friendliness, and service platform development, the company is expanding across Europe, the Middle East, and Southeast Asia.

    Problem overview

    With the rise of urban mobility solutions, cities face challenges in integrating electric bicycles into existing transportation infrastructure. Users require convenient charging, seamless public transport integration, and an affordable solution that also promotes sustainability. Traditional bike-sharing platforms often lack robust after-sales services, causing delays and user dissatisfaction.

  • Solution Overview

    Balken Mobility addresses these issues with its IoT-enabled electric bicycles, which are the only E-bikes on the market compatible with LG Electronics charging stations. Their BalkenM platform allows users to conveniently share and manage electric bicycles, offering NFC integration with public transportation systems. This comprehensive solution ensures a smoother experience for users while promoting safety and sustainability through certified Korean batteries and lightweight designs.

  • Business Model

    Balken Mobility operates under a B2B and B2C model. They offer their electric bicycles and BalkenM platform to businesses, municipalities, and individual consumers. Their products are highly scalable, with plans to expand into Europe, the Middle East, and Southeast Asia. The company has achieved $854,000 in revenue for 2023, and they are actively expanding service contracts with major corporations such as Samsung and LG Electronics. They are also preparing for the launch of a new Fat Bike model to meet the growing demand for personal mobility in various regions.

  • Competitive Landscape

    Balken Mobility’s key differentiator is its integration with LG Electronics charging stations, which sets it apart from competitors. Additionally, its robust hardware-software integration, lightweight designs, and after-sales service network give it an edge in the personal mobility market. With ongoing projects with Samsung S1, Postech, and LG Electronics, Balken is well-positioned to scale its offerings and expand globally, especially in Europe where partnerships with entities like Vélib' are being explored.

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