The French e-bike startup Angell is facing severe financial difficulties and is nearing bankruptcy. Founded in 2018 by Marc Simoncini, the company, which specializes in connected electric bicycles, has struggled with production issues, supply chain disruptions, and a costly recall, ultimately leading to its impending liquidation. This situation highlights the challenges faced by e-bike companies in a competitive and evolving market.
The Rise and Fall of Angell
Angell was founded with the vision of creating a stylish, lightweight, and technologically advanced e-bike for urban commuters. The company quickly gained attention for its sleek designs, smart features, and integration of technology. The bikes featured a touchscreen “smart cockpit” integrated into the handlebars, which displayed information such as weather, pollution levels, battery charge, and even GPS navigation. This innovative approach was aimed at setting Angell apart from its competitors.
Initial Success and Recognition
The Angell e-bike was designed by Ora Ïto, a renowned French industrial designer, giving it a sophisticated and modern aesthetic. Its lightweight frame, made from aluminum and carbon, was another key selling point. The e-bike weighed under 16 kg, making it easier to handle than many other electric bikes on the market. The company also focused on advanced safety features, including an alarm system, GPS tracking, and vibrating handlebars for turn-by-turn navigation. Early reviews of the Angell e-bike praised its smooth ride and impressive motor. These features helped Angell gain a foothold in the competitive e-bike market, and it quickly garnered a dedicated customer base.
Manufacturing and Supply Chain Issues
Despite its initial success, Angell faced persistent production problems from the outset. The company’s manufacturing partner was Groupe SEB, a French small appliance giant. However, like many other businesses, Angell faced significant supply chain disruptions during the COVID-19 pandemic, which severely impacted its ability to fulfill customer orders. These challenges were further compounded by a series of construction defects in the bikes themselves, leading to numerous issues with quality and reliability.
The Tipping Point: A Costly Recall
The final blow to Angell came in November 2024 when the company had to issue a major recall for its first-generation bikes. A significant flaw in the bike frame posed a risk of breaking, which could cause serious accidents. This recall affected nearly 5,000 units and resulted in a €13 million liability in refunds to affected customers. This financial burden proved insurmountable, leading the company to cease operations and declare insolvency.
The Competitive E-bike Market
Angell’s downfall is not an isolated incident, as several other e-bike companies have struggled in recent years. The e-bike market, while growing, is also becoming increasingly challenging, with demand faltering in some European countries.
Market Saturation
The market has seen a surge in new e-bike brands, leading to increased competition and a saturated market. This makes it difficult for smaller companies to stand out and maintain profitability. In addition, larger brands such as VanMoof and Cowboy who are also in the connected e-bike market, have proven to be stiff competition for Angell.
Declining Sales
In France, e-bike sales have declined by 9%, according to the Union Sport & Cycle (USC). This downturn in sales has put significant pressure on e-bike manufacturers, especially smaller companies like Angell that may not have the resources to weather such fluctuations in demand.
Other E-bike Bankruptcies
Angell is not the first e-bike company to face financial collapse. Dutch brand VanMoof declared bankruptcy in July 2023, though it was later acquired by McLaren Applied through its Lavoie brand. This shows the volatility of the market and the challenges involved in maintaining long-term financial stability. Other e-bike companies such as Juiced Bikes, FUELL, and Energica have also faced recent bankruptcies.
Angell’s Features and Innovations
Despite its financial struggles, Angell’s e-bikes were known for their innovative features and sleek design. Here’s a look at some of the key aspects that set Angell apart:
Design and Build
- Lightweight Frame: The bikes had a super-streamlined aluminum and carbon frame, making them one of the lightest e-bikes on the market, weighing under 16kg.
- Aesthetics: Designed by Ora Ïto, the bikes came in black or silver with a minimalist, modern look.
- Removable Battery: The battery was designed to be removable for easy charging.
Smart Features
- Integrated Touchscreen: A unique “smart cockpit” integrated into the handlebars provided turn-by-turn navigation, weather updates, battery levels, and speed information.
- Smartphone Connectivity: A companion app allowed riders to set destinations, track their rides, and customize bike settings.
- Safety Features: The bikes included an alarm system, GPS tracking for anti-theft, and handlebar vibrations for navigation assistance.
- Assistance Levels: Multiple levels of assistance made cycling a breeze.
Models
- Angell/S: A slightly smaller and more affordable version designed for people up to 185cm tall.
- M Rapide: Designed as a lifestyle and leisurely e-bike with a vintage yet modern look.
Angell’s Financial History
Angell secured a total of $35.6 million in funding over three rounds. The company’s funding rounds included:
- Seed Round: An undisclosed amount on May 17, 2020 with Groupe SEB as an investor.
- Series A: $14.2 million on July 5, 2021, with Groupe SEB as the investor.
- Series B: $21.3 million on September 19, 2023, led by Bpifrance and included Jaina Capital.
In September 2023, Angell also partnered with Mini, the BMW subsidiary, to develop a new e-bike model, further expanding its presence in the European market.
The End of Angell
Despite its innovative approach and strong backing, Angell could not overcome the challenges it faced. The company’s persistent manufacturing issues, combined with the costly recall, made its financial situation untenable.
On January 24, 2025, Marc Simoncini, the co-founder and CEO of Angell, announced on social media that “Angell is over.” The company has declared insolvency and is expected to enter liquidation proceedings, marking the end of a promising venture in the e-bike industry.
Key Takeaways
- Production Issues: Manufacturing problems and supply chain disruptions significantly impacted Angell’s operations.
- Costly Recall: A major recall due to frame defects led to a large financial liability, which the company could not absorb.
- Competitive Market: The e-bike market is increasingly challenging, with declining sales in some regions and strong competition.
- Importance of Reliability: Quality and reliability are crucial for customer trust and business sustainability in the e-bike sector.
- Financial Stability: E-bike startups must have strong financial management and adaptability to succeed in a fluctuating market.
Angell’s story serves as a cautionary tale for other e-bike startups, highlighting the importance of robust manufacturing processes, supply chain management, and financial planning to navigate the complexities of the electric bicycle market.
