BikeBiz Bicycle and cycling retail news
Since entering the market six years ago, Sport Components AG has steadily expanded its range of products to simplify the installation and maintenance of tubeless bicycle tyres, all sold under the milKit brand.
It has positioned itself internationally as a manufacturer of highly innovative products of the highest quality. Thanks to production in Europe, milKit products were available even during the COVID- 19 crisis and sales have more than doubled in each of the past years.
Despite – or because of – the good market development, a growth financing of the amount of CHF 1.5 million has now been implemented by means of a capital increase so that milKit can capitalise on this momentum and brand awareness can be further expanded. The growth of tubeless technology will remain high in the coming years thanks to its application in the road bike sector as well as mountain bike, and milKit is on the way to becoming the new standard for this technology.
The financing round was carried out in cooperation with Transaction Partner AG and an experienced lead investor was found in the investor consortium Fortyone.
After the successful crowdfunding campaigns for the launch of the revolutionary valve system and the tubeless booster, winning the Eurobike Award 2019 and the victory in the sealant test in Mountainbike Magazin at the end of 2020, the successful financing round is another highlight in the steep rise of the Swiss innovation specialists.
Additional know-how and network on the board of directors
Sport Components AG has also strengthened its board of directors and brought on two experienced industry experts. As former EVP at Bell and Giro, GM at GT Bicycles and president at Spyder Ski Apparel, Cees de Witte brings decades of industry experience and a large network, including in the areas of M&A and fundraising.
In addition, Philipp Sauber, one of Switzerland’s leading marketing and digitalisation experts, has been recruited to further deepen the focus on digital organisation and sales.
