Koofy Development Limited

About Koofy Development Limited

Koofy Development Limited, which now operates as Koofy Innovation Limited, was established in Hong Kong in 2015. The company focuses on the recreational goods and consumer electronics sectors, specifically targeting the market of Sense and Motion. Its primary product is a smart hoverboard, a single-wheel electric skateboard named Surfwheel, which utilizes sense and motion technology to replicate the experience of surfing or skiing on land. This product is designed for personal transportation and recreation, allowing users to travel with minimal effort.

The firm's business strategy revolves around the development and sale of personal electric vehicles (PEVs) that integrate motion control. Beyond the Surfwheel, the company's product interests extend to motion-controlled VR moving footpads and mobility assistance devices for the elderly, indicating a broader ambition within the motion technology space. Koofy holds several active patents for a "Foot-deck based vehicle," securing its intellectual property in this domain. The company's target markets have included Japan and mainland China, partly due to initial local regulations in Hong Kong concerning the use of such electric skateboards.

Financially, Koofy has attracted notable investment, securing $2.55 million in funding from investors such as Fantax Venture Capital, GBC Founders Fund, the Hong Kong Trade Development Council, and Hong Kong Science and Technology Park. A significant Series A funding round of $12 million was reported on May 1, 2019, positioning the company for further growth and product development. The company operates as a private entity and is headquartered in the Hong Kong Science Park.