Belgian e-bike manufacturer Cowboy has announced a strategic funding round of €5 million (approximately $5.5 million) to support its growth and expansion plans. The company, based in Brussels, aims to become a leading player in the European e-bike market.
A Strategic Funding Round for Growth
The recent funding round, led by Hong Kong-based investment firm Cypress Capital, marks an important milestone for Cowboy. Existing investors Index Ventures, Hardware Club, Future Positive Capital, Isomer, and Exor are also participating in this round. In addition to the €5 million equity investment, Cowboy has secured a further €1 million in debt facilities.
Diversifying Suppliers and Expanding Product Line
Cowboy’s co-founder and CEO Adrien Roose emphasized that the company is looking for an investor with strong ties to Asia, particularly Taiwan, which is a key hub for the global bicycle industry. According to Roose, about half of Cowboy’s parts come from European suppliers, while the other half comes from Asian suppliers, mostly Taiwanese.
The company has also been expanding its product line and form factors. After introducing the Classic model, followed by the Cruiser and Cross models, Cowboy is now moving away from numbers and focusing on different types of e-bikes to cater to various customer needs.
European E-Bike Market Growth
The European e-bike market is experiencing significant growth, driven by increasing demand for sustainable transportation solutions. With this funding round, Cowboy aims to strengthen its position in the market and expand its operations to meet growing demand.
CEO Adrien Roose on the Funding Round
"We are thrilled to have Cypress Capital on board as a strategic investor," said Adrien Roose, CEO of Cowboy. "Their expertise and network will be invaluable in helping us achieve our growth plans. We believe that e-bikes will play a crucial role in shaping the future of transportation, and we’re committed to making them more accessible and affordable for everyone."
About Cowboy
Cowboy is an innovative e-bike manufacturer based in Brussels, Belgium. The company was founded in 2016 with the mission to make e-bikes more stylish, user-friendly, and sustainable. With a focus on design, performance, and sustainability, Cowboy has quickly gained popularity among e-bike enthusiasts.
Conclusion
The €5 million funding round is a significant milestone for Cowboy, marking its commitment to growth and expansion in the European e-bike market. With this investment, the company will be able to strengthen its position in the market, expand its product line, and meet growing demand from customers.
About Romain Dillet
Romain Dillet is a Senior Reporter at TechCrunch, covering the latest news on startups, technology, and innovation. He has written over 3,000 articles for the publication and is known for his deep understanding of the European tech scene. With 12 years of experience at TechCrunch, Romain has established himself as one of the most influential voices in the industry.
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