Cowboy Raises $80M To Take Its E-Bike Business Up A Gear
01/27/22, 12:04 AM
Location
brusselsMoney raised
$80 million
The pandemic spurred a boom in electric bikes and other alternative urban transportation modes as city dwellers looked for less-crowded ways to get around their streets quickly and easily without resorting to cars. Now, one of the companies that benefitted from that trend is announcing a big round of funding to expand its business. Cowboy, a Brussels-based startup that makes e-bikes and an accompanying app to manage various services related to them, has raised $80 million in a Series C round of funding.
Company Info
Location
brussels, brussels, belgium
Additional Info
Now, as the company scales, it has a chance to use that to ease the price down over time.Second, Cowboy plans to add more services and functionality to its app, which is shaping up to be a separate revenue stream for the company with the recent addition of paid services such as insurance, crash recovery and “Cowboy Care,” a bike repair and maintenance service that is currently available in 22 cities. The company expanded into the U.S. in 2021, and while Europe accounts for the majority of Cowboy’s business today, North America is growing fast, so that will likely be one focus for hiring and business expansion. Cowboy today has two models of its gear-free electric bikes for sale, the C3 and C4 (retailing for £2,490; or just under $3,000). Alongside the bikes, Cowboy has developed an app that you use with the bike that provides a range of free bike-related services, such as route planning, bike tracking, diagnostics, and the ability to track your own progress and compare it against other Cowboy riders in your city. By marrying best-in-class hardware, software and subscription services to deliver an elevated experience, Cowboy is uniquely positioned to emerge as a leader in making electric bikes not only accessible but also aspirational.