Ampler joins Kõu Mobility Group and strengthens its position in the micromobility industry

February 17, 2023

Tallinn, 17.02.2023– Ampler and Kõu Mobility Group announced today in a joint press event that the two Estonian-based companies will join forces, to strengthen their position in the micromobility industry and to continue making emotive zero-emission commuting accessible for everyone. 

The two companies have signed an investment and share-swap agreement that makes Kõu Mobility Group the new majority shareholder of Ampler. Ampler will become one of the business units in the group alongside Comodule, Äike and Tuul, and continues to focus on developing, producing and selling light electric bicycles. All four business units continue operations independently and manage their own product portfolio and services with their respective teams and budgets

Ampler shares the vision and values of the group, and all parties see it as a perfect opportunity to join forces to move towards ambitious targets and set the trends in the fast-growing micromobility industry. Ardo Kaurit will remain the CEO of Ampler and will join the management of Kõu Mobility Group, which becomes the majority shareholder holding 51% of Ampler’s shares and gains control over Ampler.

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”.

Ardo Kaurit, CEO and co-founder of Ampler

On behalf of the entire Kõu Mobility Group, I can wholeheartedly say we are thrilled to welcome Ampler Bikes to the Kõu family. The people at Ampler have long been our friends and share the same goals and values as Kõu: to empower 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.

Kristjan Maruste, CEO of Kõu Mobility Group

Kõu Mobility Group consists of four micromobility companies: Comodule, which provides software and IoT solutions for light electric vehicles; Tuul, a rental service for electric scooters; Äike, a manufacturer of electric scooters; and Ampler, a developer of lightweight electric bicycles.

The group’s vision is to encourage people to choose clean transportation and create a noise- and emission-free urban environment. The brands of Kõu Mobility Group make light electric vehicles safer, more comfortable and more accessible.

The group employs more than 300 people, and all product development and manufacturing are done in-house in Estonia. This ensures product quality and sustainability and allows for quick responses to the needs of riders. As of 2023, Kõu Mobility group has empowered nearly one million vehicles worldwide.

Ardo Kaurit (CEO Ampler) and Kristjan Maruste (CEO Kõu Mobility Group) (Source: Kõu Mobility Group)

About High-Tech Gründerfonds
The seed investor High-Tech Gründerfonds (HTGF) finances tech start-ups with growth potential and has supported over 690 start-ups since 2005. With the launch of its fourth fund, HTGF now has over 1.3 billion euros under management. Its team of experienced investment managers and start-up experts support young companies with expertise, entrepreneurial spirit and passion. HTGF’s focus is on high-tech start-ups in the fields of digital tech, industrial tech, life sciences, chemistry and related business areas. To date, external investors have injected more than 4.5 billion euros of capital into the HTGF portfolio via more than 2,000 follow-on financing rounds. In addition, HTGF has already successfully sold shares in more than 160 companies.
Fund investors in this public-private partnership include the German Federal Ministry for Economic Affairs and Climate Action, KfW Capital and the Fraunhofer-Gesellschaft along with over 40 companies from a wide range of industries.

Media contact
Stefanie Grüter, Partner Communications & Relations
s.grueter@htgf.de
T.: +49 228 – 82300 – 188

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