Modmo

About Modmo

Modmo, an Irish electric bicycle manufacturer, was established in March 2020 by Jack O'Sullivan. O'Sullivan, a lifelong cycling enthusiast, envisioned a car-replacement e-bike and spent two years in Vietnam prior to the company's launch to establish a supply chain and development partners. The business model focused on direct-to-consumer sales of electric bikes designed for urban commuters. Modmo's primary products were the Saigon, Saigon+, and Saigon S models, which featured a sleek, integrated design with the battery housed within the frame. Key features included a 250W front hub motor, hydraulic disc brakes, integrated lights, and modular accessory mounts. The Saigon+ model also offered connectivity through GPS, 4G, and Bluetooth, linking to a dedicated mobile app for features like anti-theft tracking.

The company gained initial traction through a successful pre-order campaign, amassing 982 pre-orders from 27 countries by the end of 2020. The first bikes were shipped in February 2021. Modmo secured approximately $9.97 million in seed funding over three rounds, with a significant €5 million investment from Sean Mulryan, CEO of the Ballymore Group, in early 2022. This investment was intended to scale up production, expand the team in Dublin and Vietnam, and facilitate entry into the North American market. Germany was a key market for the company, accounting for 85% of sales at one point.

Despite its promising start, Modmo encountered significant operational challenges. In late 2022, the company issued a voluntary recall for its Saigon, Saigon+, and Saigon S models due to a critical safety defect. The latch securing the battery within the frame could fail, causing the battery to fall out during operation, which led to at least seven personal injury claims. The financial strain of the recall, estimated to cost over €765,000, combined with prior quality control issues and supply chain disruptions, led to the company's liquidation. In November 2022, the Irish High Court appointed provisional liquidators to wind up Modmo Technologies Ltd. In 2023, the Modmo brand assets were acquired by a new owner, Hadebu Ltd, which is operating under the Modmo name and offering solutions to fix the battery cap issue for existing customers.