By Steve O’Hear
Cowboy, the Belgium startup that’s designed and sells a smarter electronic bicycle, has raised €10 million in Series A funding.
Leading the round is Tiger Global Management, with participation from previous backers Index Ventures, and Hardware Club. The new capital will be used to scale operations, and expand beyond Belgum into Germany, U.K., Netherlands, and France.
Founded in January 2017 by Adrien Roose and Karim Slaoui, who both previously co-founded Take Eat Easy (an early Deliveroo competitor), and Tanguy Goretti, who was previously co-founded ridesharing startup Djump, Cowboy set out to build and sell direct a better designed and e-bike.
This included making the Cowboy lighter in weight and more stylish than models from incumbents, and adding automatic motor assistance. The latter utilises built-in sensor technology that measures speed and torque, and adjusts to pedaling style and force to deliver an added boost of motor-assisted speed at key moments e.g. when you start pedaling, accelerate or go uphill.
In addition, Cowboy’s “smart” features powered by the Cowboy app enables the device to be switched on and off, track location, provide “ride stats,” and support remote troubleshooting and software updates. A theft detection feature is also promised …read more
Source:: TechCrunch Gadgets
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