Scarper, the London-based start-up backed by Olympic legend Sir Chris Hoy, with patented technology that turns regular bikes into high-performance e-bikes in seconds, has secured an additional £4m in funding.
This is the second funding round in less than 12 months for the business, bringing the total amount invested to £8m, supporting the acceleration and expansion of Skarper’s route to market. The recent funding round was led by Starry Group and Mobilitech Capital along with several entrepreneurs.
The Skarper is a groundbreaking, point-and-click, eBike drive system that drives the bike via the rear disc brake. With its DiskDrive technology, the Skarper can turn any bike into a high-performance, lightweight e-bike and back again in seconds. This patented, first-of-its-kind brake disc drive system has been developed by a London-based startup in Camden. The company made headlines last June when it first announced its invention with tens of thousands of inquiries from around the world breaking the news.
Sir Chris Hoy, a six-time Olympic cyclist and 11-time world champion, is a contributor to the business and has been part of the development process from the start. He said: “I really think this is going to make a huge impact on the industry; people will have the freedom and flexibility to choose when they want electric assistance which opens up more people to get into cycling – something I’m really excited about. Scarper blows me away. It’s a simple concept but brilliantly effective I am very excited to see it hit the market.”
Skarper CEO and co-founder Ean Brown is excited about what’s to come: “Securing a second investment round in less than 12 months is a testament to how innovative and industry-changing Skarper has been. We’ve received hundreds of distribution orders from all over the world and have a huge waiting list of clients. Interest from industry leaders, including bicycle component manufacturers and home brands, has exceeded our expectations.Our revolutionary technology lowers barriers to owning quality e-bikes and reduces waste.
“Ultimately, Skarper aspires to see DiskDrive disc brakes installed as standard from the factory on millions of bikes around the world. With such a positive industry response, accelerating momentum, significant investment and high confidence in the business, we look forward to sharing more exciting news as this progresses. year.”