Seattle-based e-bike manufacturer Ariel Rider has raised US$14.8 million in a Serie A round, which puts the company’s valuation at US$74.0 million.

Founder of Ariel Rider, Arda Onal, stated that the new investment will help the growth of Ariel Rider and will be used mainly for inventory, improving customer service, and product development.

Ariel Rider’s X-Class 52V e-bike

We have been developing customized motors and electronic components to have the best performing e-bikes in the market. This new funding from our partners and their local expertise will help us achieve our goals at a faster pace. I am very happy with this partnership as we both share the same goals of offering the best products for the value and improving customer service.

—Arda Onal

Ariel Rider’s forecast for 2022 is 75,000 e-bikes, with 150,000 units targeted for 2023.