While Cowboyshyper-connected ebikesare assembled in Europe, it sources about half of its parts from Taiwan, Roose said.
[Cypress Capital] have strong ties with our manufacturers which will help us further secure the supply chain.
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And soon, the general public will have a chance to invest as well.
Cowboy crowdfund
Cowboy will launch its fourth crowdfunding campaign on Crowdcube on Monday.
UK-based Crowdcube enables private companies to sell shares to a crowd of private individuals.
The average investment was2,152.
That would now be worth860,000, based onRevoluts latest valuation.
Cowboys latest funding round is by no means its largest.
In 2022, the Belgian startup raised 80mn in Series C funding.
To date, Cowboy has managed to secure $138mn (125mn), according to startup data platformTracxn.
Cowboy used to sell all of its bikes direct-to-consumer but last year started pursuing an omnichannel approach.
This was partly why the startup burnt through cash so quickly, and why its customers were so unsatisfied.
Under itsnew leadership, VanMoof has scrapped this model and it seems Cowboy has been taking notes, too.
Most people today still buy and service ebikes at their local bike shop, said Roose.
Cowboys ebikes are now available in more than 250 independent dealers across Europe.
The fresh funding will help expand that web connection.
Its cheapest ebike starts at 2,697.
Earlier this the company launchedCross, its first all-road ebike model.
With such a high-end ebike loaded with proprietary parts, after-sales service is critical.
The startup is currently growing its team of mobile mechanics who canfix your bike directly at your door.
Roose also expects that expanding its internet of third-party retailers will make servicing a Cowboy ebike quicker and simpler.
A newMcKinsey reportpredicts that the ebike market will grow from $180bn to $520bn by 2035.
Five European countries account for a whopping 50% of the market.
Germany leads, with France coming in second and the UK third.
Theyre greener, faster, cheaper, and healthier.
Story bySion Geschwindt
Sion is a freelance science and technology reporter, specialising in climate and energy.
