Estonian brand, Ampler Bikes has announced that it has secured a €7.4 million equity funding round. The investment round was led by Taavet Hinrikus and Sten Tamkivi from Taavet+Sten and joined by Metaplanet, Ambient Sound Investments and Ragnar Sass. The equity investment now puts the company’s valuation at €47 million.
Sten Tamkivi.of Taavet+Sten said: “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,”
Ragnar Sass, co-founder of Estonian 5th unicorn Pipedrive and active angel investor in greentech, said: “I joined the Ampler round because they are boosting the most climate-friendly transportation mode – bicycles. And as an active user of Ampler e-bikes – I know that their products are truly the best in the world – both by the quality and service. I am sure the company has all it needs to become another unicorn from Estonia.”
Ampler plans to use the investment to continue its expansion, with the aim of doubling its headcount and showrooms into 2022 as well as building a new carbon neutral factory by 2023. The next showroom will be opened in the Haarlemmerbuurt neighbourhood in Amsterdam.
Ardo Kaurit, CEO & co-founder of Ampler Bikes, said: “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 are really proud to start this next chapter with investors and entrepreneurs who we look up to and believe that we can have a successful and long-lasting journey together which will be beneficial for all shareholders as well as our existing and future customers.”