London-based bike subscription service, Buzzbike, is looking to add an e-bike to its range. Recent investment from Berlin-based sports e-commerce and technology platform Signa Sports United (SSU) will be used to accelerate development of the bike.
"Bike ownership is dying,” Buzzbike CEO Tom Hares told our sister site road.cc last summer.
The firm has been offering a three-speed city bike on a subscription basis for several years now but sees significant potential in e-bikes – particularly as it looks to expand into other countries.
BikeBiz reports that SSU’s stake will see it become the platform’s exclusive bike supplier with development of an e-bike a key element.
“We believe bikes can unlock solutions to some of the biggest issues facing our cities, such as congestion and air pollution,” said Hares. “By making it simpler to start and keep riding, we have the opportunity to transform the cities of the future.
“We are delighted to have found a partner in SSU with global scale that shares our vision, to help bring Buzzbike to thousands of new customers across the world. Funds will be used to accelerate the development of a new cutting-edge e-bike, grow our world-class team and further evolve our technology and services.”
SSU’s head of corporate development and M&A, Anton Oliver, added: “The broadening scope of government green agendas and infrastructure spending is resulting in an e-mobility revolution and a boom in e-bikes that will continue to accelerate for the next decade. We also see a sizeable increase in individuals wanting to use biking more for commuting and getting around cities for health, environmental and efficiency reasons.”
Earlier this week, we reported how Berlin-based e-bike subscription company Dance has added another e-bike to its range as well as a 45km/h electric moped.
Other e-bike subscription platforms include Swapfiets, Zoomo, Hurrecane and Dash.