How Cowboy e-bike Startup Executed Their Idea and Raised 10 Million Euros In Funding?
Posted on October 24, 2018 By Vishal Virani
Cowboy is a Brussels-based e-bike startup that combines design style, affordability, and technology to connect owners to their electric bikes through an app, starring a secure key, live stats, and GPS tracking. The e-bike start-up was founded in January 2017 by Adrien Roose, Karim Slaoui, and Tanguy Goretti.
The Cowboy electric bike aimed to better previous e-bikes in terms of pricing, product design, and modern technology with the larger mission to “enhance urban mobility by improving the popularity of electric bikes.
After selling more than 1.000 electric bicycles in just four months, Belgian start-up, Cowboy, gets a 10 million dollar funding from its third fundraising led by New York fund Tiger Global Management. This startup’s purpose is to increase production by five and enter the entire European market.
Funding From Tiger Global Management
Cowboy bike has successfully got funds from New York-based fund, Tiger Global Management. It is one of the world’s largest hedge funds. In recent times, they funded in technology companies such as Spotify, Stripe or Coinbase.
With excellent design and technology, Cowboy has converted the electric bicycle user experience to something intuitive, functional and stylish.
European Market Expansion
Co-founder Tanguy Goretti explained that their team is ready to expand the business operation outside of their home country. The big investment will allow this young e-bike startup to cross the Belgian and they will open sales points in cities like Paris, Berlin, Amsterdam and London.
As per the co-founder’s study, more than 30% of newly purchased bicycles in Belgium are electric. Same for the Europe region, the market is increasing by 30% each year. Cowboy e-bike startup’s European expansion will begin in early 2019. The season is a particularly low selling period for bicycle producers.
In the beginning, they were only four people and now they have thirty employees. But with this new investment, they will be looking to hire fifty more employees in their e-bike startup.
Top Features for Electric Bike App Development
Here you must consider the cowboy bike app features while developing an app for your e-bike startup. The electric bike app provides some of the great functionalities such as live dashboard, navigation, GPS tracking and ride stats which makes your ride more than just a ride. Therefore, the riders will get a whole new experience.
1. Enabling Digital Key: This plays a huge role to secure your bike protected. With this feature, the only rider can active bike and can go on a ride. You can pair your bike, lock-unlock without any hassle by connecting with a mobile app.
2. Live Dashboard: Rider can get quick data at a glance that shows battery level, speed, duration and distance, lights control etc;. Thus, live dashboard keeps you informed of the status of your ride.
3 Navigation: Rider can search locations and get directions easily. This navigation feature guides riders to their destination. This feature will be coming in the app.
4. GPS Tracking: We all know the importance of GPS tracking system. It helps you when you parked your electric bike and can’t find. This app can find out your bike and also give you a message if stolen. This is the upcoming feature in the Cowboy bike app.
5. Ride Stats: With the addition of this upcoming feature, riders can aware of speed, distance, destination to keep track of rides in details. Also, it will give you route history, monitor and analyze the statistics.
6. Push Notifications: The remote-diagnostic system delivers rider a push-notifications about electric bike. For instance, it can inform you if brake-pads require replacement or when bike tires need inspection.
After looking at the Cowboy bike startup, you as electric bike startup would know that the level of competition in e-bikes is not that hard, though, startups can definitely make most by investing in this market.
If you are looking for a mobile app development company which can turn your idea to an app to grow your business to the next level then you are at the right place to discuss your project requirement. Reach out to us for a free consultation on e-bike app development process to make your idea happen.
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