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Covid-19 has changed the ways we move.
Even when pandemic-induced restrictions are lifted, city-dwellers’ focus on personal safety and hygiene is here for good, meaning for many, crowded public transport is off the table. Meanwhile, government bodies around the world are implementing carbon taxes, congestion charges and prospective bans on the sale of fuel-powered vehicles to make moves toward greener environments for their inhabitants.
So naturally, consumers are choosing bikes. Green and health policies have spurred a huge change in consumer demand, with a 92% year-on-year rise in e-bike sales since the onset of the pandemic. Europeans are expected to buy 17 million e-bikes per year by 2030 – and governments are increasingly supportive of this change. Since the beginning of the crisis, Europe has spent over €1 billion on cycling infrastructure, including 2,300km of new bike lanes.
Analog Motion is at the forefront of the e-bike revolution. The brand first came to life in 2013 when creative techies Nav Gornall and Jack Chalkley moved to London and recognised the need for an electric bike that people actually want to ride. Analog Motion’s designs tackle some of the challenges faced by two-wheel, inner-city commuters – getting from A to B, carrying fresh clothes, a laptop, towels and everything else without discomfort or exhaustion. They set out to create a new kind of e-bike – one that was light enough to carry up and down stairs, elegant in its design, affordable for the masses and fitted with a removable battery so it could be recharged indoors and outdoors. Since then, Analog Motion has put over 2,000 e-bikes on the roads of more than 400 cities across the UK and Europe. Even at the height of the pandemic, the e-bike innovator successfully manufactured and shipped 100% of all pre-ordered bikes.
Over the past few years, Analog Motion has maintained a strong growth trajectory, with £2.4m turnover in just 2 years and 250% growth year-on-year*. In 2020, the startup signed an exclusive distribution deal with UK-based e-commerce platform Pure Electric to give its customers access to the new Analog Motion AMX Le Classic. Pure Electric’s Peter Kimberley praised the brand for creating a “well-thought-out bike at a very competitive price”.
Involving e-bike enthusiasts and retail investors in the growth journey has long been a part of Analog Motion’s DNA. When first launching their AM1 design back in 2018, the startup drummed up support from over 490 backers on Kickstarter. In 2019, they raised another £1.5 million via Indiegogo and Backerkit to finance the launch of their AMX e-bike. Through their ongoing Seedrs raise, Analog Motion has raised over £170,000 from dozens of investors to accelerate R&D, expand their team, supercharge marketing efforts and boost operational and retail capacity. New developments in the pipeline include a data-driven service platform, further custom high-power electronics to position the brand as a market leader in e-mobility innovation. Scaling their support and after-sales team will allow Analog Motion to respond to peaks in demand for e-bike solutions, such as those seen throughout the pandemic.
Analog Motion is on a mission to make cities all over the world safer, greener and more enjoyable for everyone – no matter where they’re commuting to. To find out more about the investment opportunity, visit the pitch now.
*Based on unaudited management accounts