Cowboy, at the manufacturer of a connected electric bike, has completed its Series B funding round, raising EUR23 million in total.
Leading the round is Exor Seeds, the early stage investment arm of Exor, controlling shareholder of Ferrari and FCA, HCVC, and Isomer Capital, joined by Future Positive Capital and Index Ventures, each of whom are known to support entrepreneurship and impact innovation in Europe.
Adrien Roose, Co-Founder & CEO, says: “We’re thrilled about this raise. It was important that we attract such a diverse group of world-class investors with a track record in supporting excellence in design and technology as we become the one-stop-shop in urban mobility. What has always set us apart is our focus on design, hardware and software development, and a complete service offering, appealing to an audience that may not have considered an e-bike before. With these funds we will continue to grow our team, our product, and our retail and service footprint across Europe.
“The last three years have seen Cowboy go from an idea of reimagining the electric bike to become a desired brand with a devoted community within the mobility space. We’ve stayed true to our initial vision of providing a better alternative to the car—a shift we will now accelerate and lead.”
Cowboy plans to recruit 30-plus new staff in the next six months, scale operations, and expand its footprint across Europe through its Test Ride and Mobile Service networks.
Noam Ohana, who heads Exor Seeds, says: “We’re excited to partner with Cowboy in their mission to bring sustainable transportation to our city streets with beautifully-designed, customer-centric e-bikes. We are witnessing an urban transformation as more bike lanes and other environmentally-forward policies open up our cities to alternative forms of mobility, in which we believe Cowboy will play a key part.”