The Italian e-mobility startup, Blubrake raised US$6 million funding on 19th October 2020. The company develops secured anti-lock brake systems for the electric bikes. This Series A funding came from a deep technology startup factory which led the foundation of Blubrake, e-Novia.
The other investors backing the startup include Progress Tech Transfer and private investors Michele Scannavini and Andrea Perin. Bluebrake is now all ready to scale its range of products with even more mechanical cum electronic e-mobility solutions. The anti-lock braking system or ABS by Blubrake makes the cycling experience safer than before. ABS stops the front wheel to lock up and prevents the bike from flipping over. It makes the rider more stable and provides them the freedom to move while using brakes.
The funding will help Blubrake to fast track the commercial and industrial structures’ investments and keep scaling into the market. They will also accelerate their commercial and industrial arm with the investment. Blubrake has been able to build and commercialize some of the excellent technological solutions opted by some of the leading global bike manufacturers like the German maker Bulls and the Swedish company Crescent. The CEO of e-Novia, and lead investor of this Series A round, Vincenzo Russia, said, “This investment round is a representation of value growth and clearly outlined the future path of Blubrake. The funding amount also demonstrates the quality of the team at Blubrake, its product value and strength of its product and industrial strategy.
Blubrake was already in the limelight with its collaboration with CycleEurope’s Crescent Ellie 7-VXL electric bikes. With the new funds and previously gained ones, the broader outreaching for its original equipment manufacturing (OEM) will be initiated.
The e-mobility solutions by Blubrake
The solution offered by Blubrake is made exceptional for two things. First, its technology for reducing the speed of bikes is proprietary and is derived from motorcycle racing and Formula 1 experience. And second, the technology can be integrated completely into the frame of bikes. Both of these factors make its technology suitable for e-cargo and e-bikes.
The Milanese startup has raised a total US$10 million since its foundation in 2015 by Fabio Todeschini with e-Novia and a group of researchers and professors from Politecnico di Milano. The company was selected for the European Union Horizon 2020 program by the EU commission in 2020. The team also won the Eurobike award for having the best bike components last year. They are also in discussion with some of the leading e-bike manufacturers and aim to achieve a market turnover of US$20 billion in the coming time.
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