Alexis Dormandy appointed Chairman of Wattbike

Firm secures £3.4 million in development capital from city investors
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Wattbike has Appointed Alexis Dormandy to the role of Chairman following the firm's success in securing £3.4 million in development capital from a number of city investors, led by Charlie Green, a former managing director of Candover.

The funding, channelled into the business through around 30 individual investors, will drive the brand's international growth, including increasing its presence here in the UK, both in sports markets and gyms up and down the country. The US and Australia have also been highlighted as key territories for growth.

The newly appointed Dormandy said: "I am hugely excited to be working with the team at Wattbike. It is a rare opportunity to be working on such an innovative and genuinely market leading product. On a personal level as somebody with a very busy lifestyle, I appreciate and enjoy being able to benefit from focused, high quality training on the Wattbike. What is most pleasing is the belief in the product shown by very experienced and sophisticated investors, many of whom are now owners of and advocates of training on the Wattbike."

John Wilson, marketing director, Wattbike, added: “The success of Wattbike to date has been based exclusively on word of mouth among athletes and sports bodies, with the new funding we will be able to accelerate the rate of growth through enhancements in production, distribution, sales and marketing.”

The Wattbike is available in Pro and Trainer models and can be purchased direct from www.wattbike.com.

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