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Ampler joins Kõu Mobility Group to build Estonian micromobility powerhouse

Ampler joins Kõu Mobility Group to build Estonian micromobility powerhouse

Estonian leading micro-mobility firms, Ampler and Kõu Mobility Group, have formed a joint venture to enhance their position in the micro-mobility sector and empower worldwide zero-emission commuting.

Ampler and Kõu Mobility Group have announced a joint venture to strengthen their position in the fast-growing micromobility industry. The two Estonia-based companies have signed an investment and share-swap agreement, making Kõu Mobility Group majority shareholder of Ampler.

Ampler Bikes was founded by Ardo KauritRait Udumäe, and Hannes Laar with the goal of designing an electric bicycle that would not be easily identifiable as one. The company began under the name “Ööbik,” but it was later renamed and now sells in 23 countries, with 99% of its Estonian-made bikes being exported.

“Ampler is very excited about joining forces with Kõu Mobility Group and forming this Estonian powerhouse in the fast-growing micromobility industry. Ampler and Kõu Mobility Group have been pursuing a similar mission and have already cooperated in the past, so it made a lot of sense to take the next step. As they say, “If you want to go far, go together,” comments Ardo Kaurit.

Riding into the future

Ampler will now become one of the business units in the Kõu Mobility Group, alongside Comodule, Tuul, and Äike, with all four companies operating independently with their respective teams and budgets. The investment and share-swap agreement between the two companies will enable them to make emotive zero-emission commuting accessible to everyone.

  • Comodule provides high-quality IoT connectivity solutions for micromobility companies.
  • Tuul is transforming urban mobility by providing convenient access to shared e-scooters across cities. The startup’s scooters, manufactured in Estonia from almost 50% recycled materials, are the longest lasting (5 years) and over 90% recyclable.
  • Äike is in business on building electric scooters for both B2B and B2C markets. Startup’s latest e-scooter, the Äike T, is a pretty, IoT-integrated, weatherproof vehicle with interchangeable parts and multiple features and offers a great riding experience, as well as USB-charging.

The new majority shareholder holding 51% of Ampler’s shares will gain control over the company. Ardo Kaurit will continue to serve as CEO of Ampler and will join the management of Kõu Mobility Group. The CEO of Kõu Mobility Group, Kristjan Maruste, said that the two companies share the same goals and values in empowering emissionless transport. “By adding Ampler — another vertically integrated micromobility company from Estonia – to our ranks, we will be able to multiply the impact we have on clean mobility on a global scale”, adds Maruste.

The group’s vision is to encourage people to choose clean transportation, creating a noise- and emission-free urban environment. Counting the new addition, the group now employs more than 300 people, with all product development and manufacturing done in-house in Estonia, ensuring product quality and sustainability and quick responses to the needs of riders.

The partnership between Ampler and Kõu Mobility Group is expected to have a massive impact on clean mobility on a global scale, with nearly one million vehicles empowered worldwide.

This is a significant milestone for the Estonian micro-mobility industry, where local companies have joined forces to compete globally with the goal of making a significant impact in the industry. For example, Bolt, as of the last season, had 230,000 scooters in 25 countries and across 230 cities in Europe.

Wish to invest in Estonia? Read more about IoT opportunities in Estonia here and send us an e-Consulting request to get more detailed information.

Source: Investinestonia.com