Ampler Bikes has closed an equity round led by seasoned investors Taavet Hinrikus and Sten Tamkivi from Taavet+Sten and joined by top Estonian investors such as Metaplanet, Ambient Sound Investments and Ragnar Sass. The total size of the equity investment was €7.4 M which puts the company valuation to €47 M.
The fast-growing company will use the capital to continue building the future of personal transport by tackling the urban commuting problem. Ampler continues its expansion by doubling the headcount and showrooms in 2022 as well as building a new carbon-neutral factory by 2023. The global e-bike market is expected to reach $118.6 billion by 2030, according to Allied Market Research.
Taavet+Sten's vision is to promote the technology sector in Europe, including Estonia, with a decades-long view. Their investment firm invests the money and expertise of the owners themselves with the aim of supporting companies with future solutions over the long term. "As entrepreneurs and leaders, we have been building companies together since high school and have learned that the best way to create value for the world with technology is to be ingenious at solving some very complex problems. Ampler is moving in the right direction to ensure a cleaner planet for us," said Sten Tamkivi.
Ampler’s plans are to establish The Netherlands and Switzerland as the next core markets alongside Germany, by opening new showrooms and service centers. The next showroom will be opened in the vibrant Haarlemmerbuurt neighbourhood in Amsterdam. Ampler aims to become a role model for environmental sustainability for the cycling industry as expansion plans include opening a new carbon-neutral factory, with the assembly capacity of at least 100 000 bikes a year. “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,” comments Ardo Kaurit, CEO & co-founder of Ampler Bikes.About Ampler
Ampler Bikes is an Estonian direct-to-consumer brand that manufactures and sells light e-bikes. Founded in 2016 by a professional motocross racer, an engineer and a bicycle designer, Ampler launched their flagship e-bikes, the Ampler Curt, Stout and Stellar in 2018, and opened a showroom in Berlin in the same year. To date, Ampler has sold thousands of e-bikes across Europe and has 130 people working between offices in Tallinn, Berlin and Cologne. https://amplerbikes.com/
- Read the full news item on the investment HERE
- Ambient Sound Investments website
**Photos: Ampler Bikes