Wattbike secures £11.5m Series A investment led by Piper to fund international expansion
The funding from consumer specialist Piper will support expansion across the UK, US and Asia.
Wattbike manufactures high-end indoor smart exercise bikes utilised by elite athletes and fitness enthusiasts globally. The firm combines precision engineering with digital applications to track performance metrics.
Wattbike has secured £11.5m in a Series A funding round led by consumer specialist investor Piper. The capital will be deployed to accelerate expansion in the UK market and drive growth across the US and Asia.
Founded in Nottingham, the company has experienced a surge in consumer demand and rising sales orders. The business offers a range of smart bikes alongside the Wattbike Hub application to support training and performance tracking.
The transaction marks the sixth investment from Piper VI, a £125m fund focused on scaling consumer brands. Leadership noted that the partnership will support the company as it pursues its global ambitions.
From the founder
"Since first meeting the Piper team in 2016 they have consistently helped and supported our business. We are confident that their investment and expertise will help us realise our global ambitions for the Wattbike brand."
Rich Baker
CEO at Wattbike
Investor perspective
"We are very excited to be backing the Wattbike team for the next stage of growth. Indoor fitness training alongside the rise in consumers cycling and participating in triathlons make this is a very attractive market sector and Wattbike is in a league of its own when it comes to high-performance indoor bikes. We’re looking forward to working with Rich and the team over the coming years."
Dan Stern
Investment Director, Piper
Use of funds
- 01Expand into international markets