Belgium’s e-bike firm Cowboy bags €5M

Brussels-based Cowboy, an electrical bike firm, has closed its €5M funding spherical, with Cypress Capital as a brand new strategic investor.

As Cowboy’s first Asian investor, Cypress Capital brings sturdy ties to Taiwan’s bicycle manufacturing hub, enhancing Cowboy’s world provide chain.

The spherical additionally contains assist from current buyers, together with Index Ventures, {Hardware} Membership, Future Constructive Capital, Isomer, and Exor.

The funding spherical follows the corporate’s enhancements in enterprise efficiency, together with higher unit economics and elevated margins. It goals to realize full-year profitability by 2025.

Temporary about Cypress Capital

Hong Kong-based Cypress Capital leverages its sector experience and community to establish and spend money on underexploited progress alternatives. It focuses on area of interest semiconductor gamers with technological benefits or progressive enterprise fashions, and digital tech-driven sectors benefiting from business upgrades.

Talking on the event, Caren Huang, Portfolio Supervisor at Cypress Capital, says, “Cowboy is delivering the suitable product in the suitable place on the proper time.”

“Regardless of the challenges of a turbulent market, the corporate has made important strides by specializing in perfecting {hardware} design, software program upgrades, and enterprise mannequin transformation.”

“Cowboy has demonstrated its resilience and aggressive edge in a difficult business. We’re excited to assist Cowboy’s mission to develop into the premium model in e-mobility,” provides Huang.

Marketing campaign on Crowdcube

Cowboy additionally introduced that it’s going to launch a crowdfunding marketing campaign on Crowdcube on September 9, inviting its world rider group to hitch its subsequent progress section. 

This follows a “profitable” mannequin from earlier capital raises, the place group participation helped Cowboy elevate €8M from 8,000 buyers.

Adrien Roose, co-founder and CEO of Cowboy, says, “Our partnership with Cypress Capital marks a really particular level in our progress journey. Their funding not solely strengthens our ties with Taiwan, the house of motorbike manufacturing that can assist us obtain our bold objectives.”

“This elevate underpins our plans for 2025 and indicators the emergence of constructive tendencies in an business that’s anticipated to develop fivefold by 2035.”

“In a world captivated by apps and chatbots, it’s daring investments in {hardware} that drive constructive change. Simply because the AI period will depend on chips and knowledge centres, the greener, extra versatile future we envision rests on progress in bodily infrastructure. 

“With new funding, unwavering assist from our present buyers, the ability of the group, and steady innovation, Cowboy is effectively positioned to steer the class,” provides Roose.

Electrical bike for city riders

Based in 2017 by Adrien Roose, Karim Slaoui and Tanguy Goretti, Cowboy goals to remodel city mobility with its extremely linked electrical bikes. Dedicated to bettering bikes, private well-being, and the setting, Cowboy turned the primary e-bike maker to realize B-corp standing in 2022.

With clients in over 2,500 European cities, Cowboy stays dedicated to innovation, which was highlighted by the launch of Cross in March, which has doubled the corporate’s addressable market.

Its software program, together with the patented AdaptivePower expertise, presents a superior driving expertise with no gears or modes. The corporate’s omnichannel technique can be progressing, with e-bikes now out there in over 250 impartial bike outlets throughout Europe and supported by after-sales providers. 

Moreover, Cowboy has launched a brand new trade-in programme with Upway, enhancing accessibility to e-bikes for extra folks. The corporate’s world rider group has grown considerably, with riders collectively travelling over 150 million kilometers.