Estonian electric bicycles manufacturer Ampler Bikes managed to boost sales by 86 percent in the first five months of the year. The company's turnover came to €5.7 million last year.
Ampler secured €2.5 million in just five days through crowdfunding website Funderbeam last summer.
CEO Ardo Kaurit explained some of the company's success during the coronavirus period through the fact the company mostly sells its bikes online and directly to the client. That is why its business model proved successful at a time many other bike shops were closed.
Ambler Bikes' main market is Germany, with sales also strong in Switzerland and the Netherlands. The company plans to expand its maintenance and service network in the latter two countries this year.
Ampler Bikes moved into a new factory in November of 2019. According to Kaurit, the move allowed for faster production volume for the biking season, with the company now capable of delivering bikes in 7-14 days.
During a time when many businesses were forced to lay off employees, the electric bikes manufacturer hired new ones. Ampler Bikes gives work to a total of 65 people, 24 of whom have joined in the past year. A quarter of the company's staff is based in Germany.
The CEO said that Ampler's recruitment plan was not really affected by the pandemic and new jobs tie into overall growth. "We have found new tasks for people whose daily work has either disappeared or changed," he said.
Kaurit said that Ampler Bikes will continue to grow in the near perspective and there are no plans to sell the company. "We have aimed for rapid growth toward a sustainable goal, to be people's first choice for urban transport," he added.
The company is currently developing a new mobile application platform for the end user that can display information on the bike's battery level, speed, distance covered and other parameters, as well as facilitate software updates and diagnostics. "In short, the application will be a part of Ampler's user experience," Kaurit said.
The company is planning to open a new showroom in Cologne in the near future.
Editor: Marcus Turovski