COBI raises a further 6.3 million Euros bringing the total of its financial backing to almost 12 million Euros
- Digital pioneers develop intelligent technology for bike-based mobility
- Munich Venture Partners joins as a new investor; Creathor Venture and Capnamic
- Ventures further their investments
- The financing sum doubles to € 12 million
- The new capital will be used for internationalization and the development of new products
Bad Homburg vor der Höhe, January 22, 2016 – COBI, the developer of the first smart control centre for bikes, has completed another round of financing. The company has received almost €6.3 million from Munich Venture Partners and other investors like Meinders & Elstermann – International Print & Mediaservices. This brings the total investment raised by the company to 12 million Euros. Creathor Venture and Capnamic Ventures, investors from the previous funding round in April 2015, have also increased their investments. COBI will use the fresh capital for internationalization as well as the development of further products.
COBI stands for „Connected Biking“ and is the first integrated system that intelligently connects a bike with a smartphone. The modular system integrates six bike accessories into one design object: Automatic front and rear light, navigation, smartphone holder with charging function, bell, alarm system, and bike computer. The result not only makes biking safer and more intelligent, but also creates a host of features to enrich your riding experience: It turns any bike or eBike into a Smartbike. The system can be pre-ordered online as an accessory for any bike from between 179 and 330 Euros, and will be pre-fitted by many bike manufacturers. Delivery will begin in time for the biking season in Spring 2016. More than 30,000 pre-orders have already been received.
Andreas Gahlert, COBI Founder and CEO:
„With the launch of the first COBI product imminent, it’s time to expand our business model and include further products. We are delighted that with Munich Venture Partners we have found a partner who brings with them a great network, and has a clear focus on Cleantech startups.“
Pawel Schapiro, Investment Manager at Creathor Venture:
„At Creathor, we are very satisfied with the development of COBI. Most of our expectations from the time of our initial investment were exceeded by the team of COBI. Now, we are looking forward to the market launch this year and we are very happy about the two new investors MVP and Meinders & Elstermann, their expertise and network supporting the further development of the company. “