Electric bike startup Angell partners with SEB for manufacturing and investment – TechCrunch
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French startup Angell has signed a broad association with Seb, the French industrial company behind All-Clad, Krups, Moulinex, Rowenta, Tefal and others. As part of this agreement, SEB will manufacture the Angell electric bikes at a factory in Is-sur-Tille, near Dijon, in France.
SEB's investment arm, SEB Alliance, also invests in Angell . Terms of the deal are not disclosed, but Angell says he plans to raise between $ 7.6 and $ 21.7 million (between $ 7 and $ 20 million) with a group from investors, including SEB.
"We originally planned to build 1,500 bikes in 2020", founder of Angell Marc Simoncini he told me. “We realized that we were selling more bikes than expected. We now hope to sell 10,000 bikes. "
Angell has accepted 2,000 advance orders in the past six months: 75% in France and 25% in the rest of the world. But pre-orders have accelerated dramatically with the closure in France. During the month of May, Angell plans to sell three times more bikes than in an average month.
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Angell originally planned to build its own factory and assemble bikes. SEB has 25 employees on the production line and production is expected to start in late May. This should certainly speed things up and reduce possible delays.
Angell without sleep
your smart electric bike in November 2019. It has a 2.4 inch touch screen, an aluminum frame, built-in lights and a removable battery.
Like the other connected bikes of Cowboy and VanMoof, it is paired with your phone via Bluetooth. In this way, the Angell bike has a built-in locking and alarm system. There is also a built-in GPS chip and a cellular modem to detect it in the event of theft.
But Angell goes even further with the integrated display. You can select the assistance level and display information on the screen, such as speed, calories, battery level and distance. It can also display detailed instructions. Its handlebars also vibrate to indicate when to turn left or right.
The company is also announcing a second model this week, the Angell / S. It is a smaller and lighter version of the bike with a step by step frame. Both models have the same battery, the same engine and the same electronics. Both also cost € 2,690 ($ 2,900).
Angell now hopes to deliver the first batch of bikes in July. At the end of the summer, new customers should be able to order a bicycle and receive it within 10 days. Finally, the company will also launch a full line of accessories, such as fenders, baskets and mirrors.
