Belgian electric bike start-up Cowboy raises further $80 million
Cowboy, a Belgian start-up that developed an innovative electric bike, has announced it has successfully raised a further $80 million (€71 million) in funding.
This new capital injection brings the total amount raised by Cowboy to $120 million (€107 million).
Founded in 2017, the company immediately was an award winner at the EuroBike trade fair and has expanded into the Scandinavian and American markets.
Cowboy’s electric bike weighs 16kg including the battery, has integrated front, rear and brake lights, and hydraulic brakes. The firm also developed an app that turns the bike into a fully connected object, with functions such as navigation, on/off button and a data dashboard.
“We designed the Cowboy bike to appeal specifically to people who are yet to be convinced that electric bikes are a practical and mainstream mode of transport,” said Cowboy’s chief executive Adrien Roose.
“We focused our attention on the three main reasons people are reluctant to purchase electric bikes: high cost, poor design and redundant technology – or a combination of the above – and we set about fixing them all.
“I’m very happy with the renewed support of our investors which allows us to accelerate our company growth and product innovation.
“With this new capital, we’re bringing our industrial design and technological development in house. This will give us a further competitive edge as the most sought-after electric bike brand.”