Electric bicycle companies are raising money left and right these days, with the latest big investment heading toward European electric bicycle company Ampler Bikes.
The Estonian electric bicycle company’s elegant, high-end e-bikes are popular throughout Europe for their upscale design and high-quality EU production.
Now that production should be getting a boost, thanks to a new funding round of €7.4 million (approximately US $8.6 million). That puts Ampler’s valuation at €47 million (approximately US $54.5 million).
Just like the larger electric bicycle industry, Ampler has been growing at an impressive rate. The company recently doubled its workforce and showrooms, and will invest in constructing a carbon-neutral production factory by 2023.
Germany is Ampler’s main market currently, but the company has plans to greatly expand its operations in the Netherlands and Switzerland.
The locally built electric bicycles have proven to be a favorite of European urban commuters. As Ampler’s CEO and co-founder Ardo Kaurit explained:
“All Ampler e-bikes are hand assembled in our own factory, as we believe that self-owned assembly will continue to be an important competitive advantage in order to offer the best urban commuting experience with user friendly, reliable and sustainably built light electric bikes.”
We had the chance to review the Ampler Stellar electric bike last year, and found it to be an incredibly high-quality urban commuter bike. From the welding to the integrated battery and highly responsive torque sensor, the bike was several cuts above a typical imported commuter e-bike. To top it all off, the bike doesn’t even look electric – meaning most riders won’t know you have a boost (and thieves won’t know how valuable it is).
You can check it out in my video review below.
E-bike funding continues to grow
Ampler’s announcement comes at a time when massive capital is flowing into the electric bicycle market.
Fellow European electric bicycle manufacturer VanMoof recently claimed to be the most funded electric bicycle company after landing a $128 million investment.
US e-bike company Rad Power Bikes announced a $154 million investment round less than two months later. That brought Rad’s two-year funding total to nearly $330 million.
With all of this cash being pumped into the electric bicycle industry and e-bikes still flying off the shelves of every major retailer, both consumers and investors are signaling high confidence in the continued growth of the industry.
Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast.
Author: Micah Toll
Source: Electrek
