The demand for e-bikes continues to skyrocket as cities reevaluate their transport choices. With a growth rate twice as high as predicted before the Covid-19 pandemic, the latest projections expect the e-bike market to surpass $46B in the next six years.
Capitalising on the opportunity, Breda, Netherlands-based WATT Mobility, an urban e-bike brand, announced that it has raised €1.5M in a growth round of funding from Bloomit Ventures. The investor will support WATT with funding and hands-on support to grow their business smarter and faster in Europe.
Range up to 70 kilometers
WATT Mobility was founded in 2017 by Frans Nomden and Marc Jacobs with an aim to develop minimalist fixie-style e-bikes for a broad urban audience. The company offers different single-speed models which are easy to use, hassle-free, and low-maintenance.
According to the company, its e-bikes are light due to their aluminum frames, lightweight accessories, small integrated battery, and slim tires. The e-bike models offer a range between 40–70 kilometers. One of the advantages of lightweight e-bikes is that they are easy to handle in traffic and easy to lift.
In a statement, WATT says, “Non-electric looking ‘lifestyle’ city bikes are now a fast growing segment in Europe. Due to the sleek design, the rear wheel motor, and the integrated battery in the frame, the WATT bicycles are hardly recognisable as electric bicycles. The leading brands in this particular segment currently only sell online (D2C). For resellers in Europe, this offers an excellent opportunity to grow quickly with WATT.”
Currently, WATT Mobility is active in 10 countries with 170 resellers. The company aims to expand this number to 300+ resellers by 2023. In the coming years, the company also wants to optimise the supply chain, improve its product quality and the range of the bicycle.
WATT’s collaboration with Bloomit Ventures
Bloomit is an active investor and accelerator of Light Electric Vehicles (LEV), run by the founders of Babboe Cargo Bikes.
The investor says it will collaborate with WATT Mobility in the coming period to jointly optimise business and marketing strategy, product development, operations, finance, and funding. The firm says, “Together we are able to accelerate the transition to sustainable urban mobility, necessary for creating cleaner and more accessible cities in the near future.”
