Doctibike, a Lyon-based company specialising in the reconditioning of electric bicycle batteries, has reorganised its capital by raising €1 million from its founders and Demeter and UI Investissement in order to expand its reconditioning capacity.
Doctibike, a Lyon-based company specialising in the reconditioning of electric bicycle batteries, has reorganised its capital by raising €1 million from its founders and Demeter and UI Investissement in order to expand its reconditioning capacity. Joffe & Associés (Thomas Saltiel, Océane Christmann & Clémence Bressolin) advised Demeter and UI Investissement on this transaction.
Doctibike has in fact replaced its previous majority shareholder, PatCom Group (known as Green Riders Group), in favour of investment funds. Most of the company’s capital had been acquired in 2021, as part of a project to build a production site.
However, as a result of the financial difficulties encountered by PatCom Group, the latter was placed under receivership last April. As a result, the founders, Anne-Sophie Caistiker and Pierre Francisco, with the support of the merchant bank Further Finance, sought partners to buy out the company’s shares, thereby freeing themselves from this influence. This led to UI Investissement acquiring a stake in September 2023 through the Opportunités Régions 3 fund, followed by Demeter through the Fonds d’Amorçage Industriel Métropolitain (FAIM).
Anne-Sophie Caistiker, President of Doctibike, explains that the company has a 500 m² workshop that reconditioned 15,000 batteries last year, employing five technicians among its twenty-strong workforce. The company achieved sales of more than €2m last year, and its total workforce is set to double over the next two years. Doctibike is also aiming to expand the variety of batteries it can handle, with currently more than 400 brands and 8,000 references.
Anne-Sophie Caistiker, President of Doctibike, explains that the company has a 500 m² workshop that reconditioned 15,000 batteries last year, employing five technicians among its twenty-strong workforce. The company achieved sales of more than €2m last year, and its total workforce is set to double over the next two years. Doctibike is also aiming to expand the variety of batteries it can handle, with currently over 400 brands and 8,000 part numbers.
