Update: Smart Electric Bike Startup Cowboy Raises More Than £3.3 Million in Funding So Far on Crowdcube

Cowboy, a Belgium-based smart electric bike startup, has raised more than 3.3 million in funding through its equity crowdfunding campaign on Crowdcube so far. The campaign was launched earlier this month and quickly secured its initial £1.2 million funding target. 

As previously reported, Cowboy’s is on a mission to improve “urban mobility” and take commuters to their destination in a more sustainable and efficient manner. The startup shared:

“Cowboy’s vision is to elevate the daily commute to the next level in terms of speed, comfort and freedom of movement around the city. Cowboy enhances the riding experience by unifying intelligent technology, delightful design and meticulous customer service.”

Cowboy further reported that it sold more than 5,000 bikes in 2019 alone, which is five times year on year growth, 3,482,713 km ridden and 435,375 kgs saved in carbon emissions. Adrien Roose, Cowboy CEO, recently stated:

“The growth of Cowboy over the past two years has demonstrated there is a real appetite amongst our customers to not only have a connected e-bike but to be a part of our micromobilty revolution as we look to reduce the amount of cars on the streets and decrease commute times. The last two years has shown us the passion that our community has and how they want to be a part of our future. Enabling them to become shareholders will be very powerful for us as we set our sights on transforming urban mobility.”

Funds from the campaign will be used to continue the growth and development of Cowboy’s brand. The company is now offering 5.56% in equity through the funding round at a £51,468,849 pre-money valuation

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