Mo-Jet has new backers and reaches Kickstarter goal within five hours

The company's electric jetboards are in the luxury segment. The founders are focusing on sea rescue, water sports facilities or yacht owners as customers.

The Hamburg-based start-up for electric jetboards Mo-Jet already received capital from Mittelständische Beteiligungsgesellschaft Schleswig-Holstein. Now it has been joined by three additional private backers. In a Kickstarter campaign, the company also reached its goal of 40,000 euros within five hours.

With the money, Mo-Jet wants to produce 200 jetboards in the first year of production, and 500 in the second. That doesn't sound like much. However, given Jetboard s small sales numbers, the figure already seems relatively high: in 2020, just 2,500 jetboards were sold worldwide. There were also around 6,000 foils and 2,500 dive scooters sold in 2020. According to Mo-Jet, the reason that these were so few is that riding them is not as fun as one might assume.

Mo-Jet now wants to change that: The founders have put twelve years into developing a product that should be fun to ride and easy for beginners to use in wind and waves. It should also be easy to transport. The Mo-Jet founders have chosen a small market, their jetboard is in the luxury segment. The price starts at about 10,000 euros. However, the founders see the market potential as large due to the wide range of possible applications: the boards should find buyers in the area of sea rescue, in water sports facilities, resorts or among yacht owners, motorboat enthusiasts and renters of water sports equipment.

Mo-Jet offers seven modules. The stern section, christened "Mo-Jet" as the basic component, is the propulsion unit and heart. With the "Body" it becomes a bodyboard for children, with the "Surf Air" and the "Surfboard" it becomes surfboards. With the "Foil" an underwater propeller comes into play. The "Dive" element can dive and the "Rescue" module was developed for sea rescue. "Mo-Jet can save lives and make the work of lifeguards much easier," says co-founder Holger Daum.