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Hammerhead, maker of the Karoo bike computer, closes $4.1 million funding round

Published March 8, 2019

NEW YORK (BRAIN) — Hammerhead, which launched the Android-based Karoo GPS bike computer last year, has closed on a a $4.1 million "Seed Plus" funding round. The investment was led by Primary Venture Partners and KB Partners. Also participating were Courtside Ventures, Maveron, Robin Thurston and Andy Ording, the CEO of Zipp.

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Hammerhead said the new funding will enable it to invest more deeply in software development for the Karoo computer, and its Karoo operating system.

"The next major innovation in cycling will take place in software. Great software has always been a focus at Hammerhead. The bicycle of the future will be intelligent and data-driven. It will guide riders to the safest roads and best trails. It will facilitate the right workouts to achieve an athlete's fitness goals. It will speak to a world of connected sensors and it will facilitate smart fleet management for bikeshare," said Pieter Morgan, founder and CEO of Hammerhead.

Hammerhead's Karoo OS operating system will enable other companies in the industry to integrate sophisticated software solutions at all levels, putting their own branded software onto the Karoo device or other devices running the OS.

"Karoo OS will support all of the sensors and equipment that cyclists depend on, and will easily scale to any embedded platform that Hammerhead or its partners choose to use. The end goal is to become the default platform for cycling," the company said.

This funding round also enables Hammerhead to rapidly expand its team, with several key positions open in its New York City and Malvern, Pennsylvania, offices.

More information at www.hammerhead.io.

Topics associated with this article: Mergers & Acquisitions

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