Cowboy Secures €5 Million Funding Round Led by Cypress Capital
Brussels-based electric bike company, Cowboy, has closed a strategic funding round of €5 million, with €1 million in debt facilities. This investment, led by Cypress Capital, a Hong Kong-based firm with ties to Taiwan, aims to open new doors for Cowboy.
Despite the smaller amount compared to previous fundraises, Cowboy is focusing on sustainability and profitability. The company plans to be breakeven on an EBITDA basis for the second half of the year and turn a profit next year. With existing investors participating in this round, Cowboy is now valued at €40 million on a pre-money basis.
In the midst of market challenges, Cowboy is diversifying its product lineup and distribution channels. The company has introduced new form factors like the Cruiser and Cowboy Cross models, as well as expanding into traditional bike shops. Cowboy's bikes come with advanced features like theft alerts, crash detection, and AdaptivePower, showcasing their commitment to innovation.
With a focus on profitability and product expansion, Cowboy is poised for growth in the competitive e-bike market. Despite recent industry challenges, the company remains optimistic about its future prospects.