Wattbike Ltd.
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Wattbike Ltd. - overview
Established
2008
Location
Nottingham, -, UK
Primary Industry
Consumer Products
About
Wattbike Ltd. , based in the UK, specializes in developing advanced indoor cycling equipment designed to enhance training experiences through real-time performance analytics. Their products cater to a diverse user base including athletes and fitness enthusiasts. Founded in 2008 in Nottingham, UK, Wattbike Ltd.
focuses on high-performance indoor cycling solutions. The company has completed a total of 4 funding deals, with the latest funding round, Private Debt, raising GBP 3. 250 mn, bringing the total amount raised to GBP 3. 250 mn.
In April 2025, Wattbike was acquired by FORME, which will help accelerate its global expansion efforts. Wattbike specializes in the design and manufacture of high-performance indoor cycling equipment, including their range of smart exercise bikes such as the Wattbike Atom, AtomX, Proton, and Air models. These bikes utilize advanced technology to provide real-time analytics on performance metrics, helping users optimize their training. Wattbike's primary users include professional athletes, fitness enthusiasts, and casual cyclists.
Their products are marketed globally, with significant sales in the UK, US, Ireland, Canada, Australia, and several European nations. In the most recent fiscal year of 2023, Wattbike reported revenues of GBP 16,778,580. 90 and an EBITDA of GBP -6,568,214. 80.
Revenue is generated through direct sales of their flagship exercise bikes and accessories, with prices including the Wattbike Atom at GBP 2,395, the Proton at GBP 1,695, and the Air at GBP 1,895. Additionally, they offer a subscription-based training app, Wattbike Hub, enhancing user engagement and providing ongoing revenue through partnerships with fitness applications. Wattbike aims to expand its product line with new offerings anticipated in the coming years. The acquisition by FORME is expected to facilitate growth into new international markets, enhancing their global presence.
The recent funding will support the company's strategic initiatives, including product development and market expansion efforts.
Current Investors
Piper
Primary Industry
Consumer Products
Sub Industries
Recreational Hobbies & Sporting Goods, Recreational Product Stores
Website
www.wattbike.com/
Verticals
E-commerce, Mobile Apps
Company Stage
Mature - Growth Capital
Total Amount Raised
Subscriber access only
Wattbike Ltd. - timeline of key events
Wattbike Ltd. - financials
| Fiscal Year Ended | Sep 30, 2012 | Sep 30, 2013 | Sep 30, 2014 | Sep 30, 2015 | Sep 30, 2016 | Sep 30, 2017 | Sep 30, 2018 | Sep 30, 2019 | Sep 30, 2020 | Sep 30, 2021 | Sep 30, 2022 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | - | - | - | - | - | - | - | 17,024,104 | 20,978,812 | - | - | - |
| % Revenue Growth (YoY) | - | - | - | - | - | - | - | - | 23.2% | - | - | - |
| EBITDA (USD) | (5,297) | (3,061) | (7,013) | (11,897) | (101,959) | - | - | 391,885 | (229,814) | - | - | - |
| Operating Income (USD) | (5,297) | (3,061) | (7,013) | (11,897) | (101,959) | - | - | (306,341) | (1,129,035) | - | - | - |
| Operating Margin | - | - | - | - | - | - | - | (1.8%) | (5.4%) | - | - | - |
| % EBITDA Margin | - | - | - | - | - | - | - | 2.3% | (1.1%) | - | - | - |
| NET Income (USD) | (3,839) | (2,862) | (6,867) | (11,674) | (441,968) | - | - | (576,149) | (1,281,351) | - | - | - |
| % Net Margin | - | - | - | - | - | - | - | (3.4%) | (6.1%) | - | - | - |
Wattbike Ltd. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Secondary Buyout | Announced | Wattbike Ltd. | - | ||||||||
| Private Debt | Completed | Wattbike Ltd. | - | ||||||||
| Private Debt | Completed | Wattbike Ltd. | - | ||||||||
| Growth | Completed | Wattbike Ltd. | - |
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Wattbike Ltd. - employee data
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