Belgium-based developer of innovative technology for the cycling industry, Classified Cycling, raised EUR 22 million in recent funding. The company announced the fundraise on December 1, 2022. Active Partners led the financing for the firm. Rapha and Evans Cycles, the well-known cycling brands, have Active Partners as an investor. Meanwhile, Bridford Investments Limited joined in the funding.
As a part of the deal, Nick Evans, Managing Partner at Active Partners intends to join the Classified board.
Purpose of financing for Classified Cycling
The company intends to strengthen business development, with a strong focus on the regions such as the US and Europe. Classified CyclingCycling intends to expand further into the e-bike market, leveraging its Powershift technology to make a lighter, more durable and efficient transmission for electric bikes, making their deep tech products available to more riders globally.
What the company’s CEO has to say
Mathias Plouvier, Co-Founder and CEO at Classified, said, “Classified’s Powershift technology is the first major technological improvement since Shimano and SRAM took control of the cycling market decades ago. Our innovation makes the experience of riding a bike so different from the current paradigm that it is almost magical. With our new investment and an appetite for disrupting the cycling industry, we are well-equipped to take our technology to riders around the world. We have reached agreements with over 40 brands and are looking to expand our business as a supplier to the largest OE brands in the world. We will also be a great partner to e-bike manufacturers as we have a significant technological upgrade in the works for this rapidly growing group of riders.”
What the investor has to say
Nick Evans, Managing Partner at Active Partners, said, “Classified is disrupting the bike and e-bike markets with a genuinely differentiated and innovative product that radically improves the riding experience for all cyclists. Ride it once, and you will feel the difference! We are excited by Mathias and Roëll’s vision to transform the future of CyclingCycling and look forward to helping the team to accelerate their product development, invest in the Classified brand and distribution, build strategic partnerships and accelerate the widespread adoption of their technology by the industry and riders around the world.”
About the company
Mathias Plouvier and Roëll van Druten launched the company in 2019. Classified is a deep tech company with the mission to create drivetrain products that transform the riding experience and performance of all cyclists. The company is already in partnership with more than 40 brands.
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