Cowboy, the Belgian startup that designed and sells a better digital bicycle, has raised €10 million in Sequence A funding.
Main the spherical is Tiger World Administration, with participation from previous backers Index Ventures and Hardware Club. The brand new capital might be used to scale operations and broaden past Belgium into Germany, U.Okay., Netherlands and France.
Based in January 2017 by Adrien Roose and Karim Slaoui, who each beforehand co-founded Take Eat Simple (an early Deliveroo competitor), and Tanguy Goretti, who beforehand co-founded ridesharing startup Djump, Cowboy got down to build and sell direct a better designed e-bike.
This included making the Cowboy bike lighter in weight and extra fashionable than fashions from incumbents, and including computerized motor help. The latter makes use of built-in sensor know-how that measures pace and torque, and adjusts to pedaling fashion and power to ship an added increase of motor-assisted pace at key moments, e.g. once you begin pedaling, speed up or go uphill.
As well as, Cowboy’s “good” options powered by the Cowboy app permits the gadget to be switched on and off, monitor location, present “trip stats” and assist distant troubleshooting and software program updates. A theft detection function can be promised quickly.
“We designed the Cowboy bike to enchantment particularly to people who find themselves but to be satisfied that electrical bikes are a sensible and mainstream mode of transport,” says Adrien Roose, Cowboy’s CEO, in an announcement.
“We targeted our consideration on the three primary causes persons are reluctant to buy electrical bikes: excessive price, poor design and redundant know-how — or a mix of the above — and we set about fixing all of them.”