Home eMobility Belgian e-mobility startup Cowboy raises USD 80 million in Series C

Belgian e-mobility startup Cowboy raises USD 80 million in Series C

Belgium-based Cowboy, a manufacturer, and designer of electric bikes that combine technology, elegance, and affordability for urban and ruler riders, raised USD 80 million on 26th January 2022.

Investors: The investment round was led by Exor, HCVCl, and Siam Capital joined by several other investors Tiger Global, Index Ventures, Eothen, Isomer Opportunities Fund, Future Positive Capital, and Triple Point Capital. Over USD 125 million has been raised so far by the startup.

Purpose of funding: The startup plans to expand its technology on the bikes by using the funds. Furthermore, adding paid services such as insurance, crash recovery, and bike repair to its app is another revenue stream for the company. In addition to expanding into new markets, the funds will be used to hire more talent for future projects.

About Cowboy

Founded in 2017 by Adrien Roose, Karim Slaoui, and Tanguy Goretti, Cowboy is located in Brussels, Belgium. Cowboy manufactures and designs electric bikes that combine technology, elegance, and affordability for urban and ruler riders. The bikes are primarily designed for young urban dwellers. Unlike the competition, the startup builds its bikes from the ground up – a noticeable difference is a frame and the app with stats and GPS tracking. These bikes are characterised by sleek, brushed metal lines and relative lightness.

Additionally, the bikes feature discreet battery placement and 70km of battery life. The startup has two models of its gear-free electric bikes for sale, the C3 and C4 (retailing for under USD 3K). C4, a version that aims to appeal to people who have used shared e-bike services, was launched last year. The new models have built-in charging ports and navigation systems that allow services to operate in different areas.

What the founders have to say

“In just over two months since we released the new app, our riders have cycled almost 2.5 million kilometres. They’re riding further and more often – an 8% increase in distance travelled and a 15% increase in moving time. That’s our ambition here at Cowboy. As we look to enhance the connected ride further, we can be that everyday companion encouraging the community to ride and anticipating their needs along the way,” said Tanguy Goretti, Co-Founder & CTO at Cowboy.

“People deserve to be able to move freely and to map their paths in life. We believe the electric bike is the way forward for people and the planet. It’s beyond exciting to have this financial commitment to investing in that future with us,” said Adrien Roose, Co-Founder at Cowboy.


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Varun Nath writes about the startup ecosystem on VC Bay. A student at Delhi University, he is pursuing a Bachelor of Commerce degree. In pursuit of exploring the world of finance and technology. You can reach him at varunnath155@gmail.com

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