Home » News » Cowboy, a startup for electric bikes raises over $26 million in its current funding rounds

Cowboy, a startup for electric bikes raises over $26 million in its current funding rounds

Electric bikes startup Cowboy raises $26 million in funds

The startup Cowboy has now raised over 26 million dollars worth of funding from various investors like Exor seeds, isomer capital, HCVC, Future Positive Capital, and Index Ventures. This amount is equal to about 23 million pounds. The firm has been working on premium electric bike manufacturing and ships them directly to sellers in Europe who further bring it to the European customer markets.

The company has been working on updating its previous models and has recently launched its third-generation electric bike, which is a flagship model. This model is a more refined and iterated version of a lot of the previous models’ features. If you have been to Europe, there is a high chance that you might have seen one while you are out and about in the city.

You can spot it if you know some of its main looks like the bike has a quite noticeable triangle-shaped aluminum frame with lights that are pill-shaped, added onto its frame. The company tries to focus on keeping the designs as simple as possible to make it hassle-free for the rider to use. It does not feature any separate buttons or gears to control motor usage. However, the motor has been set up such that it will automatically start functioning as a spoon as the rider starts to pedal.

Cowboy bikes have made their name in the European markets for some of their key features that offer above par efficiency. Some of these features are carbon belts, and custom made tires. The tires also come with a puncture protection layer, which is great for rough terrains. Lastly, the bike comes with a detachable battery, which is quite useful.

With the help of some electronic chips and technology, the Cowboy bikes have become connected bikes as well. What this means is that you can lock your bike whenever you are not using it. The company is currently working on an auto-unlock feature. This feature will be based around the Bluetooth technology, so that the bike will be able to detect your phone whenever it is close by and auto-unlock itself before you reach it and have to manually unlock it. Other than this, Cowboy is also working on creating an auto alert kind of feature. By monitoring your accelerometer, your pedal power, and your bike’s speed, the system will be able to detect a crash and automatically alert an emergency contact.

Unlike its competitors, Cowboy is not just a manufacturing firm; it is also a service company. It allows potential customers to take the bikes for a test ride before they buy it. It has also built a connection amongst its repair partners. The brand can be seen in dozens of cities around Europe. The company is quite keen on building customer trust and relationships. It now offers insurance on some of its products, thanks to its recent partnership with an insurance firm Qover. For eight pounds per month, you can get insurance against theft, and you will be notified if someone is trying to steal your bike.

For a ten pound per month subscription, you will get insurance against damage as well. With such huge fundings in place, the firm is now looking to upscale its business shortly. The startup has made certain plans which spread over the next six months and include expanding a lot of its departments. The company has the next six months. It will expand its test rides for more clients and scale up its production lines and operations with Flex’s assistance.

Image Source: TechCrunch

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