So far, 1,039 investors in the automotive, transport and mobility industry have participated in the round.
They span across 41 countries, with the leading countries being France, Belgium, Germany, UK and The Netherlands.
“We are proud to have an ever-expanding community with over 600 rider community groups and customers in more than 2,500 towns and cities across Europe and the US, completing more than one million rides per month,” Adrien Roose, Co-Founder and CEO of Cowboy, told Zag Daily.
“We strongly believe that our innovation inspires people to invest in our e-bikes and our mission to make cities more liveable. Not only do we have award-winning designs, but our bikes also have a positive impact on people’s lives and the environment. We’ve seen how our conscious consumers are united around the world, driven by the desire to have both style and substance in their daily commutes.”
Cowboy’s e-bike was named one of Time Magazine’s Best Inventions of 2022, with more than 50,000 units having now been sold globally.
“2022 was our best year ever, doubling our deliveries to over 19,000 bikes,” said Roose.
“Design has begun on new models that can unlock a broader customer base, and investment is being made in expanding our sales and service footprint as we aim to drive innovation further through new software launches before autumn.”
In March, the retailer announced a new software solution that senses changes in the environment and adapts the power of its e-bikes in real-time. Dubbed ‘AdaptivePower’, the software identifies shifts in elevation, wind or weight and then adjusts the power as necessary to keep the rider in the flow.
Roose added: “We have just completed the first €10m of our current financing round with the goal to support our growth towards profitability, and as we did in 2020 and 2022, we are now extending this investment opportunity to our community through Crowdcube.”
The deadline for the raise is 12:59 pm CET on 26 April. Those who invest £10k or more are rewarded with a new Cowboy bike.