London-based startup Skarper has raised £4 million in funding for its patented technology that transforms regular bikes into high performing e-bikes in seconds.
This is the second funding round in less than 12 months for Skarper, bringing the total amount invested to £8m.
Backed by six-time olympic champion Sir Chris Hoy, the clip-on e-bike drive system uses a specially designed disc brake rotor to provide power to your bike.
“We have designed the world’s first fully enclosed, wire-free drive system that integrates seamlessly into your bicycle with no modification required to the frame or wheels, and without compromise on performance,” Skarper’s CEO and Co-Founder Ean Brown told Zag Daily.
“The funding will go towards setting up mass production capability, the manufacturing of Skarper units needed to satisfy demand, and to growing our commercial team.”
Skarper has been developing its technology over the past two years, preparing for mass manufacturing this summer. Soon after this, customers will be able to pre-order their unit from the first production batch.
The startup has received distribution requests from all over the world, including the UK, USA, Europe, Japan, Australia, South East Asia, Africa and South America.
This year, Skarper is focusing on its home market, the UK, before targeting other markets after the initial pre-order launch. Starry Group and Mobilitech Capital led the latest funding round, alongside several business angels.
Sir Chris Hoy, who is a shareholder in the business and has been heavily involved in the product’s development, said: “I truly believe this is going to make a significant impact on the industry; people will have the freedom and flexibility to choose whenever they want electric assistance which opens up cycling to so many more people – something I’m extremely passionate about.
“I am blown away by Skarper; it’s a simple, yet brilliantly effective concept and I am very excited to see it come to market.”