Econic One, an e-bike company, has closed a €6 million investment to anchor its next phase of growth. The brand is known for designing smart e-bikes. It will continue to invest in research and development and its evolving electric bicycle models. The investment round is funded by Integral Venture Partners, Bulgarian Development Bank, and incumbent shareholders, Econic One writes in a press release.
The investment will be deployed to support the company’s ambition to be at the forefront of the mobility sector. This would be achieved by expanding its global footprint in DACH and the USA markets. Additionally, they plan to strengthen their in-house research and development, production and technology development teams, and facilities.
“2022 is another year of rapid growth for Econic One. We will continue to inspire people to move on e-bikes. Making cities sustainable and creating better, smarter, and greener ways to commute and relax is our passion,” says Galin Bonev, founder and co-CEO of Econic One.
The company focuses on the design, production, and market development of smart and connected electric bicycles and related IT systems. Econic One is an e-bike brand building an ecosystem aiming to positively affect the way we ride, for commuting and leisure purposes. The bikes are sold across the EU and the USA. As part of the company’s portfolio, Econic One also offers a proprietary subscription-based smart-bike application for consumers and a fleet management software platform for business customers.
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