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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 robust ties to Taiwan’s bicycle manufacturing hub, enhancing Cowboy’s international provide chain.
The spherical additionally contains help 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.
Transient about Cypress Capital
Hong Kong-based Cypress Capital leverages its sector experience and community to determine and put money into underexploited progress alternatives. It focuses on area of interest semiconductor gamers with technological benefits or modern 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 vital 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 help Cowboy’s mission to turn out to be 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 international rider group to hitch its subsequent progress part.
This follows a “profitable” mannequin from earlier capital raises, the place group participation helped Cowboy increase €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 motorcycle manufacturing that can assist us obtain our formidable targets.”
“This increase underpins our plans for 2025 and indicators the emergence of optimistic developments 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 optimistic change. Simply because the AI period relies on chips and knowledge centres, the greener, extra versatile future we envision rests on progress in bodily infrastructure.
“With new funding, unwavering help from our present buyers, the ability of the gang, and steady innovation, Cowboy is properly positioned to guide 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 related 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 prospects 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 know-how, affords a superior using expertise with no gears or modes. The corporate’s omnichannel technique can be progressing, with e-bikes now accessible in over 250 unbiased 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 individuals. The corporate’s international rider group has grown considerably, with riders collectively travelling over 150 million kilometers.
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