Adjuvo, a group of angel investors, is leading the latest round of funding for the company that makes e-bike conversion kits. The gold-medal-winning Olympian is backing the company.
Sir Chris Hoy, the six-times gold medal-winning British Olympic cyclist, is backing a mobility technology company that is raising millions of pounds to fund its growth as it gets ready to ship its first product to users.
The 2020-founded company Skarper has received an extra £4.5 million in funding from a group of well-known backers.
Skärper has created a compact, lightweight motor system that attaches to cycling disc brake rotors, transforming bicycles into high-performance electric bikes with a remarkable 50 km range.
Dr. Alastair Darwood, the company’s founder, came up with the Skarper gadget. It only takes the same amount of time to disconnect it and ride like normal.
The company’s engineers worked with the advanced technologies section of the Formula One team Oracle Red Bull Racing to make the technology.
Adjuvo is leading the funding round. Adjuvo is a network of angel investors made up of some of the best businesspeople and entrepreneurs in the UK. They have helped several great start-ups.
Existing Skarper investors, such as Starry Group, a global company that makes consumer goods, and Mobilitech Capital, an investor in mobility technology. Yaron Kottler, head of the engineering and cybersecurity services group Resilion, also took part in the funding round.
Tetro, a dynamic member of Starry Group, develops Skarper’s innovative technology system known as DiskDrive.
With this new round of funding, Skarper has now raised a total of £12.8m since it began.
Read More: Liam Gallagher Tells Oasis fan to shut up’ About Reunion Tour Tickets
Adjuvo CEO Predicts Skarper’s Dominance in E-bike Market
According to Mark Foster-Brown, CEO of Adjuvo, Skarper is going to become a big player and unique part of the fast-growing e-bike market with a one-of-a-kind device that could change the whole field.
“New aid is expected to boost the $100bn cycling sector. Technology is created to increase transportation and recreation use.”
Skarper is based in London and has just over 20 employees. It plans to deliver its first goods in the last quarter of this year. We will focus on the UK first before expanding across Europe.
With the extra money, the company will be able to make more things and invest in marketing and its sales infrastructure.
Ean Brown, co-founder and CEO of Skarper, called the fundraising “a major milestone.”
“Raising almost £13 million so far shows how good the product and brand we’ve made are.”
“Such significant capital allows us to satisfy the customer demand for Skarper, achieve our growth targets, and make a positive impact in the cycling industry.”
FAQs
Skarper is an innovative e-bike company that has developed a unique device to enhance the riding experience. The company’s owner is the renowned cyclist Sir Chris Hoy.
The £4.5m injection is a major boost for Skärper, providing the company with the financial resources to expand its operations, develop new products, and strengthen its market position.
