Ellipse Bikes

What Ellipse Bikes does

Ellipse Bikes (legal entity: SAS Ellipse Industries) is a French urban mobility company founded in 2020 in Troyes, Grand Est, by three engineers who were daily bike commuters and bicycle-repair association volunteers. It designs, assembles in-house, and sells made-in-France electric and muscular bicycles targeting individual urban commuters and French enterprises seeking fleet-leasing solutions. The company operates a direct-to-consumer e-commerce site with a 3D-style configurator, a network of certified dealers across France for test rides and after-sales service, and an emerging B2B company-fleet program with 36-month leases and a 40% employer tax advantage.

The product portfolio centers on the E1 (€1,990 entry-level VAE, 360Wh Samsung battery, Mivice M070 250W/35Nm rear hub motor, carbon belt drive, 40–70 km range, from 17.8 kg), the E2 and E2 ST (€2,490, 504Wh battery, Mivice M080 250W/45Nm motor, up to 110 km range, 15 colors, belt or Shimano CUES chain options, 19.4–19.8 kg), and the M1.2 muscular bike (€189 pre-order). Differentiating technology includes a torque-sensor-driven progressive motor assistance, integrated frame-embedded lighting and turn signals, an anti-theft alarm up to 100 dB, anti-theft screws, and an optional GPS connectivity module (€4.83/month) with smartphone alerts. Components are sourced from Samsung (cells), Mivice (motor), Shimano (transmission/brakes), Continental (tires), Thule, ABUS, AXA, Knog, SP Connect, and Suntour — with final assembly internalized at the Troyes facility alongside regional Grand Est suppliers for electronics, rims, fenders, and painting. The product line is homologated under EN-15194, ISO 4210, and EN-62133, and all units carry a Bicycode/Paravol registration mark.

The revenue model combines one-time hardware sales (bikes, accessories including own-brand racks, Thule bags, ABUS/AXA locks, child seats, mirrors, bells, chargers, secondary batteries at €290–€350) with three recurring streams: GPS connectivity subscriptions (€4.83/month, year one included), the Esprit Libre insurance product (€8–13/month via Qover, underwritten by Nationale-Nederlanden with Europ Assistance for 24/7 roadside support), and 36-month enterprise fleet leases. Distribution is split between global DTC e-commerce with 30-day returns and 0% financing via Crédit Mutuel, CIC, and LCL, and a domestic French certified-dealer network. The Re Cycle certified pre-owned program resells returned, demonstration, and ex-lease bikes at €1,490–€1,790. Customers can further reduce net price via a French state ecological bonus up to €400 plus local aid up to €500, with a trade-in program for old bikes. The company closed a ~€1.5M funding round in May 2026 led by SideAngels with Bpifrance, Caisse d'Epargne, and UTC Alumni.

Name

Ellipse Bikes

Legal name

SAS Ellipse Industries

Website

https://ellipsebikes.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Ellipse Bikes (SAS Ellipse Industries) designs, assembles, and sells made-in-France urban electric and muscular bicycles with integrated safety electronics and accessories, serving individual commuters and French enterprise fleet customers via DTC e-commerce, a certified dealer network, and B2B leasing.

Ownership category

akta.pro rank

Product category

Urban Electric Bicycles

NAICS

Motorcycle, Bicycle, and Parts Manufacturing (336991), Motorcycle, Boat, and Other Motor Vehicle Dealers (44122), Automotive Parts and Accessories Retailers (44133), Consumer Electronics and Appliances Rental (532210)

SIC

Motorcycles, Bicycles & Parts (3751), Services-Auto Rental & Leasing (No Drivers) (7510)

akta.pro primary industry

E-bikes & E-cargo Bikes Manufacturing (IMACAOAA)

akta.pro secondary industries

E-Bike Retail (CRAMAHAE), Cycling & Bike Retail (Sales, Service & Accessories) (CRAMABAH), Bike Accessories Retail (Lights, Locks, Racks, Bags) (CRAMAHAD), E-Bikes & Electric Bicycles (CRACASAA), Cargo Bikes & E-Cargo Bikes Rental/Leasing (TLABAGAB)

Keywords

• Electric urban bicycles
• Mobility fleet leasing
• Connected bike technology
• Bicycle accessories ecosystem
• Made in France manufacturing

Headquarters

HQ city

Troyes

HQ country

France

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Bicycle Sales: Direct-to-consumer sales of electric and muscle bikes through the company website and dealer network. Configurator allows customization with various options affecting final price.
2. Accessories: Aftermarket accessories including bags, baskets, locks, mirrors, chargers, child seats, phone mounts. Sold through website alongside bikes or separately.
3. Connectivity Subscription: Monthly subscription for GPS tracking and theft alerts. First year included with connectivity-enabled bikes, then 4.83€/month.
4. Insurance (Esprit Libre): Comprehensive bike insurance covering theft, accidental damage, vandalism with 24/7 assistance. Priced between 8-13€/month, administered through Qover.
5. Reconditioned Bikes: Sale of refurbished bikes returned under 30-day policy, demonstration bikes, exhibition bikes, and leased vehicles. Offered at discounted prices with 1-year warranty.
6. Company Fleet Leasing: B2B bike leasing program for enterprises allowing employees to rent bikes through salary sacrifice with 40% employer tax advantage. Multi-year contracts (36 months) leading to ownership.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Ellipse Bikes designs, assembles in-house in Troyes, and sells premium urban electric bicycles (E1, E2, E2 ST step-through) and a non-electric muscular bike (M1.2) direct-to-consumer and through a French dealer network. The company also offers an extensive accessories ecosystem (batteries, racks, bags, locks, child seats, mirrors), a GPS connectivity subscription module, an all-risk "Esprit Libre" insurance product, and a B2B company-bike fleet-leasing program with 36-month terms.

Product overview

Ellipse Bikes is a French urban mobility company (SAS Ellipse Industries, Troyes, Grand Est) founded in 2020 by three engineers. The product portfolio comprises three electric bike models — the E1, E2, and E2 ST (step-through variant) — and a muscular (non-electric) bike (M1.2). The E1 is a lightweight urban VAE (17.8kg, 360Wh, up to 70km range, carbon belt drive) priced from 1,990€. The E2 and E2 ST share the same technical platform (504Wh battery, 45Nm motor, up to 110km range, 15 color options, +12,000 configuration combinations) starting from 2,490€. Both E2 models are available with optional GPS/connectivity module (4.83€/month) and all-risk Esprit Libre insurance (8–13€/month). The M1.2 is the muscular platform (pre-order at 189€). Ellipse also operates a certified pre-owned 'Re Cycle' program and sells a comprehensive own-brand accessories ecosystem (batteries, chargers, racks, bags, locks, mirrors, bells, child seats) plus third-party branded accessories (Thule, ABUS, AXA, Knog, SP Connect). Assembly is fully internalised at Troyes, and the company sells direct-to-consumer and via a reseller network across France.

Differentiator

Problem solved

Functional benefit

Products and services

• Ellipse E1 Electric Bike Lightweight urban electric bicycle (VAE) for French commuters seeking integrated safety, low-maintenance belt drive, and a 40-70 km range. Priced from €1,990.
• Ellipse E2 Electric Bike Premium urban electric bike with extended 60-110 km range, configurable drivetrain (belt or chain), 15-color palette, and optional GPS connectivity. Priced from €2,490.
• Ellipse E2 ST Electric Bike (Step-Through) Step-through variant of the E2 electric bike, designed for easier mounting and a more upright posture, suitable for riders 1.55-1.95 m. Priced from €2,490.
• Ellipse M1.2 Muscle Bike Non-electric muscular urban/hybrid bike, predecessor-based platform proven on multi-thousand-km adventure expeditions. Pre-order at €189.
• Re Cycle (Certified Pre-Owned) Refurbished and quality-checked used Ellipse bikes (E1, E2 ST, M1.2) sold at a discount with a 1-year warranty.
• Connectivity Module (GPS / Tracker) Optional GPS tracking and geofencing hardware module for E2 and E2 ST bikes, paired with a smartphone app and €4.83/month subscription for theft alerts.
• Esprit Libre Bike Insurance Subscription all-risk insurance product for Ellipse bikes, covering theft, damage, vandalism, and 24/7 assistance across the EU. Priced €8-13/month.
• Company Bike Fleet Leasing Program B2B fleet-leasing service for French companies offering employee bike benefits through payroll salary sacrifice, with a 40% employer tax advantage and 36-month terms converting to ownership.
• Bicycle Accessories Ecosystem Comprehensive own-brand and third-party accessories range (racks, batteries, chargers, bags, locks, child seats, phone mounts, mirrors, bells, kickstand) for Ellipse bikes, sold individually online.

Quantifiable outcome

• E2 weight 19.4kg, E2 ST 19.8kg - among lightest electric bikes on market
• +4 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature5 records

Partnerships

Twelve partnerships are on record, tiered minor and core.

• Infomaniak Network SAminorOthersWeb hosting provider for ellipsebikes.com. Based in Geneva, Switzerland. Ensures GDPR compliance with EU data hosting.
• QovercoreStrategic or Co-development PartnerInsurance administrator for Esprit Libre bike insurance product. Manages claims, customer service, and policy administration for theft and damage coverage across EU.
• Nationale-NederlandencoreStrategic or Co-development PartnerInsurance underwriter for theft and material damage coverage in the Esprit Libre insurance product.
• Europ AssistancecoreStrategic or Co-development PartnerEmergency assistance provider for Esprit Libre insurance. 24/7 roadside assistance including bike pickup and transport to home or repair shop.
• MivicecoreTechnology or IntegrationGerman motor manufacturer supplying rear wheel hub motors (M070 for E1, M080 for E2/E2ST). Compact design enabling lightweight electric bikes with progressive torque sensor control.
• ShimanocoreTechnology or IntegrationJapanese component supplier providing CUES transmission systems (9-speed for E2/E2ST chain version) with 3x durability vs standard, plus MT200 hydraulic disc brakes.
• SamsungcoreTechnology or IntegrationBattery cell supplier. E2/E2ST uses 504Wh battery with 40 Samsung lithium-ion 21700 cells. E1 uses 360Wh with 20 cells.
• ContinentalcoreTechnology or IntegrationTire supplier providing Double Fighter III anti-puncture tires with reflective bands. Standard on E2/E2ST models.
• ThulecoreTechnology or IntegrationSwedish accessories brand supplying bags (13L front, 25L rear) with waterproof thermo-welded construction and quick-attach systems.
• ABUScoreTechnology or IntegrationGerman security specialist supplying U-locks (Granit Plus 470, level 12/15) and folding locks (BORDO 6000K, level 10/15).
• AXAcoreTechnology or IntegrationSecurity supplier providing frame locks (Block XXL) with plug-in capability for chain extensions. Anti-drilling cylinder with 12/15 security level.
• SuntourcoreTechnology or IntegrationSuspension supplier for E2/E2ST optional front fork (SF15 Nex E25 with 50mm travel) for improved comfort on rough roads.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Angell: French premium urban e-bike maker (Paris-based) with integrated lights, turn signals, alarm and connected app. Direct competitor for Ellipse in the French market with overlapping product positioning, price band, and connected-bike feature set.
• Cowboy: Belgian premium urban e-bike brand selling direct-to-consumer in France and across Europe with connected, app-integrated bikes. Highly comparable as a European DTC urban e-bike competitor targeting the same commuter segment with a similar subscription/connectivity model.

Others

• Shimano: Japanese component supplier providing drivetrain, brake, and e-bike systems for the global cycling industry. Comparable as a core technology partner to Ellipse (CUES, hydraulic brakes) and an indirect ecosystem participant.
• Mivice: German e-bike hub motor supplier whose M070 and M080 motors power the Ellipse E1, E2, and E2 ST. Comparable as a direct technology partner and as a representative of the lightweight hub motor category that defines Ellipse's spec sheet.
• Bosch eBike Systems: German e-bike drive system (motor + battery + software) supplier powering many premium urban e-bike brands. Comparable as a Tier-1 component ecosystem competitor to Ellipse's Mivice/Samsung/Shimano stack, and an indirect competitor through OEM partner brands.

Regional players

• Urban Arrow: Dutch premium cargo e-bike brand serving family and last-mile delivery use cases across Northern Europe. Comparable as a European utility e-bike maker with similar safety/integration and accessory ecosystem philosophy, focused on a different geography.

Broad incumbents

• Specialized: Global premium bicycle and e-bike manufacturer with broad urban, road, and mountain ranges plus established dealer network across Europe. Overlaps with Ellipse on premium positioning and integrated urban commuter use case.
• Trek: Global premium bicycle and e-bike maker with extensive European dealer network. Comparable on premium urban e-bike positioning and broad product portfolio addressing similar commuter/utility use cases.
• Decathlon: French sporting goods giant with massive own-brand urban e-bike range (Riverside, Triban, Elops). Competes with Ellipse on price from below while sharing the French retail footprint and Made-in-France credentials.

Emerging players

• Tenways: European-headquartered (Amsterdam) e-bike brand selling lightweight urban e-bikes online across Europe at a similar premium-but-accessible price band. Comparable on product, distribution model (DTC online), and target urban commuter.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/ellipsebikes
• Instagraminstagram.com/ellipsebikes

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ellipse Bikes