Last week, Frankfurt-based iCradle launched a crowdfunding campaign on Kickstarter to raise $100,000 for its new connected biking system, COBI. The project immediately became a huge hit, scoring its initial goal within four days. It is currently at $165,676 thanks to 842.
COBI is considered a “world-first” in many ways. It’s the first integrated system for bikes, integrating the most popular smartphones, which turns every bike into a smart bike at an affordable price. The patented system integrates five typical bike accessories into one design: a light, a navigation system, a smartphone holder with charging function, a bell, and a bike computer.
COBI’s greatest strength lies in the in the seamless integration of more than 100 features that make biking more connected, smarter and safer: Navigation system, weather barometer, music player, smartphone-charger, thumb controller, brake light, Indicators, alarm system, online services, social media, mobile connectivity, fitness interface, styling kits and much more.
COBI was designed to be future proof: The modular construction allows the device to be upgraded for the next generations of smartphones. It also offers a number of partner programs for bike manufacturers, retailers and service partners. An SDK for Software Developers will allow other companies to extend and integrate with the COBI system.
The campaign will run for another 22 days and will be extended with stretch goals, which will include expanded features and partner cooperation based on customer feedback. Founder of iCradle, Andreas Gahlert stated, “We are delighted by the overwhelming response from fans and the industry all over the world. We always believed in the potential of COBI. Thanks to the feedback we’re receiving, we can go even further.”
In addition to Kickstarter, the COBI system has been financed by 11 investors so far. To date, nearly $1.3 million has been invested in product development. Venture Capital investments will support taking COBI into production too. Kickstarter funds provide an immediate influx in capital that allows COBI to speed to market.
iCradle began with the product development in Winter 2013 in Germany and has now started the final phase of product development in December 2014. iCradle launched COBI for one month on Kickstarter as the final step before production. Product delivery is set for summer 2015.
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