Skarper, the London-based start-up backed by Olympic legend Sir Chris Hoy, has announced it has secured an additional £4m in funding, doubling the amount of investment the company has secured in the last year. Skarper first made headlines last June, when the company introduced its click-on, click-off e-bike drive system - the DiskDrive.
This latest funding round was led by the Starry Group and Mobilitech Capital, alongside several business angels.
"Securing a second investment round in less than 12 months is a testament to how innovative and industry-changing Skarper is. We have received hundreds of distribution requests from around the world and have a large waiting list of customers. The interest from industry leaders, including bike component manufacturers and household brands, has exceeded our expectations,” Ean Brown, CEO and Co-Founder of Skarper, commented.
Skarper’s DiskDrive claims to be able to transform any bike into a high-performance, lightweight e-bike and back again in seconds. In essence, the system drives the bike through its rear disc brake and offers a range of 60km. We reported on the launch of the patented system last June when the company also said it’s working on an off-road version of the drive.
Six-time Olympic and 11-time World Champion cyclist Sir Chris Hoy is a shareholder of Skarper, and commented on the latest developments: “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.”
There are no definite details available on when the finished DiskDrive will be available, but pre-orders are open and delivery should happen this year.