Satgana invests in pre-seed round of French electric bike startup Loewi

Satgana invests in pre-seed round of French electric bike startup Loewi

Published: 30-05-2023 09:43:00 | By: Pie Kamau | hits: 3370 | Tags:

Satgana has invested in the pre-seed round of Paris-based electric bike startup Loewi, alongside Antler France, Caméléon Invest, CentraleSupélec Seed Fund and other strategic business angels. 

As technology advances, so do the options we have to reduce our impact on the environment. Electric bikes represent a low-carbon way of commuting and can help people save on fuel costs and minimize their contribution to greenhouse gas emissions. A glaring issue facing the e-mobility world is waste, where thousands of used electric bicycles are discarded when they could have been refurbished and reintroduced into circulation, and the high cost factor that deters many potential buyers of new electric bicycles and concerns over their reliability when purchasing second-hand.

Anil Maguru, Investment Director, Satgana: “We are excited about the commercial potential and customer engagement of Loewi, as electric bicycles are part of the solutions in the transportation industry to reduce greenhouse gas emissions.”  

In 2021, Diego Level (CEO) and Tanguy Lastennet (CBO) made an alarming observation of the vast amount of electronic devices that are discarded annually. Research shows that that number is estimated to be around 1.4 million tonnes that are thrown away per year in France - the equivalent of 139 Eiffel Towers. They decided to create Loewi, a Paris-based startup that has developed a multi-brand solution to refurbish electric bicycles, enabling a cheaper, circular and low carbon form of mobility. Their mission is to make electric mobility more accessible and more sustainable. 

Loewi has identified an opportunity in refurbishing electric bicycles on a large scale, with the potential for a double positive impact: to prevent the vast quantities of waste, including precious metals;and to promote electric bicycles as a more sustainable transportation option, with a considerably lower carbon footprint than that of traditional vehicles.

As the number of used electric bicycles continues to escalate, so does the demand for refurbished electric bicycles. However, the current value chain is hampered by the absence of industrial expertise and technological tools at all levels, preventing the convergence of supply and demand.

To address this challenge, Loewi has devised an integrated value chain that is divided into three key stages, each of which addresses specific obstacles in the refurbishment process. These stages are: 

  • Collection: efficient, diversified, and profitable sourcing through the use of trusted partners and adapted technological tools. 
  • Refurbishment (the company's core business): Control, repair, and quality certification are the foundation of Loewi's refurbishment business through a hardware & software solution.
  • Distribution: multi-channel sales strategy (B2B & B2C) which is attuned to supply and demand, enabling the swift rotation of inventory.

 

Solving the climate crisis will involve much more than the solutions that electric bicycles alone can provide. However, by positioning electric bicycles as a tool in the climate action toolbox and promoting safe and affordable infrastructure through the circular economy, Loewi plans to lay the groundwork for scalable climate action.

www.loewi.fr
www.satgana.com