Danish e-Bike brand MATE has secured a £3 million investment from Mirabaud Lifestyle Impact Innovation (MLII). According to the founders, the funds will help fuel further growth and enable MATE to pursue its targets.
Christian Adel Michael and Julie Kronstrøm Carton, founders of MATE said: “Since our inception, MATE has successfully developed, launched and sold tens of thousands of high end e-bikes that transcend the void between fashion and biking. The confidence shown by our investors is a stamp of approval; not only of our vision to bring more people on bikes and deal with today’s challenges such as traffic congestion and climate change by creating cool, fun and sexy electric bicycles, but to turn MATE into a global brand leader fit for today’s generation that can fulfil market potential, scale sales and grow above and beyond the +50 markets we’re in.”
MATE has experienced previous marketing success through Indiegogo, securing a €10m fundraise for its second e-bike MATE X in its first closing, which went on to break the de facto European crowdfunding record with appx.
MATE has recently succeeded in opening flagship stores in Copenhagen and Tokyo and is currently working with 15 partners worldwide to grow its retail sales.
David Wertheimer, Founding Partner of MLII, said: “From a fashion perspective, MATE shows iconic designs which have been recognized by consumers since the beginning. MATE already owns global celebrity clients and has recently launched great collaborations with lifestyle luxury brands, making MATE by far the most fashionable e-bike brand. Simultaneously, MATE has managed to build in this short period a solid and interactive community of users. Those users are loyal to the brand and show tremendous growth potential thanks to its constant innovation drive.”
Christian Adel Michael and Julie Kronstrøm Carton, added: “MATE’s agility and ability to move fast and captivate consumer audiences with its audacious and unapologetic style is backed by popular demand with Indiegogo’s audiences, and with Covid hopefully coming to an end soon and people wanting to get out there and explore the world again, the best could be yet to come with this next drop.”