Since 2010, we have been living and working to put the best paddles in the hands of watersports enthusiasts and the best boards & foils under their feet. 50,000 boards sold and constant innovation speak for themselves. Join our movement now and support our development.

At glance

Facts: 50,000 boards sold, CHF 30 million turnover

Brand: Top 3 most popular SUP & Foil brands, premium segment, Swiss engineering

Product: More than 130 high-quality boards with an enticing, simple design. Regular and high performance foils at fair prices

Team & Service: Genuine and competent employees delivering top service, development, marketing and sales

Potential: Enormous growth potential in Europe thanks to major trend in foiling 

Quotes

Dr. Johannes Eisenhut, CEO Senn Development AG 

""I am very proud that Switzerland has a real watersports brand in INDIANA, which is also recognized internationally. What's more, they never rest on their laurels, but continue to develop and have become one of the world's leading foil brands. Viva Swiss engineering!"

Dave Trmal, Hochschulsportlehrer ETH

"Indiana Paddle & Surf has been a reliable partner for over 10 years. The brand from Lake Zurich impresses with good quality, innovative products and good service."

Marc Knöpfel, CEO Swiss Sailing

"It's a pleasure to work with Indiana Paddle & Surf. For years, the Swiss brand has been offering very good products with attractive specifications for our 28,000 members and 212 clubs".

Dr. med. Sarah Spalinger, Indiana Ambassador

"Indiana was the first Swiss brand to recognize and revolutionize the potential of pump foils, consistently delivering the most fun and coolest products."

Quick Facts

White Wave AG - From the Street to the Ocean

1989

Indiana was originally founded in 1989 on Lake Zurich as a skateboard brand. The dynamic brand quickly made a name for itself with high-quality products and worldwide competition successes.

2010

The next step followed in 2010 under the motto "From the Street to the Ocean" and the first stand up paddle board from Indiana SUP glided across the water. Four years later demand grew enormously, and customers demanded boards that were easy to transport. A new sports and leisure movement developed worldwide with inflatable SUPs and Indiana SUP was riding the wave of change.

2016

White Wave AG was founded in 2016 to keep the brand in balance both organizationally and financially. The final breakthrough came in 2017, thanks in part to the test victory in the renowned Swiss Television consumer magazine "Kassensturz". Indiana was riding the wave of success. The brand drove development forward on all fronts with the support of experts and talented employees. As a flexible small company with a great deal of innovative spirit, the brand continued to surprise with unique innovations such as SUP 2.0 technology.

2018

The Indiana Crew combines various watersports and corresponding know-how. At the time, the range comprised 65 SUP and surf boards but expanding the product range was the obvious next step. In 2018, the first Indiana foils and foil boards are produced and sold.

2019

The Indiana brand celebrates its tenth season on the water. Time to refresh the logo and designs. Indiana SUP becomes Indiana Paddle & Surf to unite the product diversity under one brand umbrella. The boards are produced to an even higher quality and the brand establishes itself in the foil market. During the pandemic, sales figures go through the roof and watersports boom throughout Europe. 10,000 boards find a happy customer in a single season.

2020

This is followed by the relocation of the headquarters and showroom to Oberrieden, directly on Lake Zurich. The website and webshop undergo an upgrade and impress with features like the board finder and shopfinder.

2023

The product range grows to over 130 boards, with massively expanded particularly in the foil area. The High Performance Foil Series is developed by the in-house development team and is state of the art. Foilers from all disciplines appreciate the performance and quality. Even world records such as the long-distance pump foil record of 1.37 minutes by Frenchman Jérôme Baudoux are set on Indiana material. The webshop is updated to Magento 2.3, making it faster and optimized for mobile.

2024

Foiling is the number one topic in watersports and is gaining more and more followers worldwide. The sport is still young, and one development follows the next. Brands launch new foils and boards several times a year. Our ambassadors Jérôme Baudoux and Nicolas Iten set world records with the new Condor XL Foil: 3h 26 min and 4h 02 min. Staying on top, developing innovative and better products, tapping into new markets and staying on the ball with webshops and IT requires a lot of commitment and capital.

Become a shareholder of Indiana Paddle & Surf now and help shape our success story!

Why should you invest in White Wave AG and thus in the Indiana Paddle & Surf brand?

Watersports are fun and broaden perspectives

Stand up paddling has established itself as a sport. Many people who were previously sedentary have found a meaningful leisure activity that is fun and healthy. SUP is not just for athletes and experts but provides entertainment for young and old. Foiling in various disciplines is on trend and has enormous growth potential. Watersports enthusiasts are taking on the challenge of learning something new, developing themselves further and, above all, equipping themselves with new, high-quality equipment.

Foiling is currently the hot topic on the water

Whether pumping from the dock, with the wing in your hand or driven only by the force of the waves, gliding over the water is the non-plus-ultra for all watersports enthusiasts. Water time increases enormously, as you can foil even in supposedly poor conditions. Indiana has been developing foil boards and foils with experienced experts, shapers and engineers since 2017. Starting with a range of two models, we now deliver a selection of more than 40 boards and 30 different foil sets. 

Young sport with enormous sales potential

Foiling is still in its infancy and the development and sales potential is enormous. Our competent development team, located in Constance and Fuerteventura, and our new commercial price structure enables us to be successful in this market. To guarantee this and drive innovation forward we need a solid foundation with good financing.

The foil market is far from exhausted

Following our price structure adjustment in the spring (up to 30% cheaper), we have become more commercial and affordable, especially in countries with lower purchasing power than Switzerland. The market still has a lot of room for improvement and our ingenious products have the potential to be sold better in southern and eastern EU countries. We predict that foil customers will buy more and more online. With our new webshop based on Magento 2.3 with a connection to the Comatic ERP and the marketing behind it, we are well prepared for the future. For the 2024 season, we have entered a cooperation with Heidi Pay for instalment payments. With the pre-order function, we will be able to manage cash flow better and speed up rotation in the warehouses, thereby saving costs.

Innovative products with high customer acceptance

With top developed and produced material, we actively contribute to people being active in nature and recovering from everyday life on the water or setting new goals. As passionate boardsports enthusiasts, we only sell products that we enjoy ourselves. The positive feedback from our customers gives us energy and motivation to continue to give our all and offer the best boards and foils!

We rely on cooperation in all areas

We work with competence centres to bring people to our equipment at as many locations as possible through training and rentals, including universities, SUP and foil courses, Swiss Sailing in popular and professional sport, and Ensis in product development. More than 50 Ambassadors ensure "Indianafication" in their regions.

With our own accessories brand, Lio-Tec, we ensure that our boards have the best possible boxes, handles, valves and footstrap plugs etc. We also supply other brands and factories with Lio-Tec and see interesting sales potential in this.

In Switzerland, we are the importer of the German brand Restube with its lightest and smallest certified PFDs, i.e. inflatable life jackets.

We face up to the challenges of the market

Global warehouses full of outdoor sports articles, decreasing purchasing power and disappearing specialist retailers are currently making business difficult. It will now take some perseverance and patience for the market to clear up. In 2024, we began our transformation phase and made the price structure more attractive for the European market. The large remaining stocks are to be sold via outlet offers on the B2B and B2C webshops. We are convinced that we will emerge stronger from this phase. We are using the time to set the course for the future. With our webshops and shipping from our warehouses in Switzerland and the EU as well as with strong marketplaces, we want to sell 80% of our products to end customers by 2028.

As an investor in Indiana Paddle & Surf, you not only support the promotion of health and fun for watersports enthusiasts, but also benefit in many ways yourself:

• Attractive discounts on your own material
• Voucher system with 10 % commission
• Distribution of a dividend in the event of a positive annual result
• Right to have a say at the AGM