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Cowboy Raises $80m to Further Accelerate the Adoption of Cycling

Published January 31, 2022

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Brussels, 27th January 2022 — Electric bike designer Cowboy today announces an $80 million Series C financing milestone. The round is led by Exor, HCVC and Siam Capital, with investments from Tiger Global, Index Ventures, Eothen, Isomer Opportunities Fund, Future Positive Capital and Triple Point Capital.

This new capital injection, bringing the total raised by Cowboy to $120 million, follows the launch of the Cowboy 4 in May 2021 which garnered record sales, a successful expansion into the Nordics and the U.S., and the recent introduction of Cowboy Care — an industry first, all-inclusive, on-demand repair and maintenance subscription service. New product, market, and service innovation embodies Cowboy's ambition to build the complete ecosystem for urban cycling loved by its ever-growing rider community.

2021 marked a pivotal year for Cowboy, creating the foundation for rapid global growth. Some of the most notable milestones include:

Expanding U.S. operations
Introducing Cowboy Care, an on-demand, all-inclusive maintenance service
Launching Cowboy app 3.0, featuring ride stats and social sharing, resulting in significant increases in cycling time and distance covered per rider
Enhancing Cowboy Circular, enabling consumers to buy second-hand, certified refurbished Cowboy bikes.

This funding round sets Cowboy on a trajectory toward powering millions of people to move in and around cities quickly, safely and healthily as consumers look to leading an active and environmentally-conscious lifestyle.

"I'm thrilled by the renewed support of our investors which allows us to accelerate our company growth and product innovation," shared Adrien Roose, Cowboy Co-Founder & CEO. "With this new capital, we're bringing our industrial design and technological development in house. This will give us a further competitive edge as the most sought-after electric bike brand."

Key initiatives and investments in 2022 and beyond will be structured around four growth themes: product design excellence, on-demand services, fitness and customer delight.

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