Brussels-based e-bike company Cowboy has secured €23 million in Series B funding to pursue its mission of replacing city cars with sustainable transportation. Leading the round is Exor Seeds, the early stage investment arm of Exor, controlling shareholder of Ferrari and FCA. HCVC, Isomer Capital, Future Positive Capital and Index Ventures also participated. The Belgian bike designer and manufacturer is the winner of the Eurobike 2017, the Red-Dot bicycle design award 2018 and the Red-Dot “Best of the Best” award for the prototype of the 2019 model. In a press release, the startup cites “massive demand” for its bike that launched last month, Cowboy 3, which has a removable battery integrated into the frame and automatic transmission. Currently the business operates in Austria, Belgium, France, Germany, Italy, Luxembourg, The Netherlands, Spain, and the United Kingdom. With the new investment, Cowboy plans to hire over 30 people in the next six months, scale operations, and expand its footprint across Europe through its ‘Test Ride’ and ‘Mobile Service’ networks “The time for Cowboy is now,” said Sofia Hmich of Future Positive Capital. “More than a bike, they’re providing a convenient, efficient, and healthy way of life. We’re proud to support them, especially in the development of new sustainability initiatives.” Just yesterday, European e-scooter companies TIER, Voi and Dott pledged to a set of ten sustainability commitments.
Photo: Cowboy founders