COBI raises 6.3 million Euros bringing the total of its financial backing to round about 12 million Euros

The follow-up financing COBI doubles to a total of round about 12 million Euros

COBI, the developer of the first smart control centre for bikes, has completed another round of financing. The company has received nearly 6.3 million Euros from Munich Venture Partners and other investors, for example Meinders & Elstermann – International Print & Mediaservices. This brings the total investment raised by the company to round about 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.“

Martin Kröner, Managing Partner at Munich Venture Partners:
„With its fully integrated hard- and software solution, COBI follows a completely new approach for smart bikes, which is today unrivalled in its functional range. COBI thereby offers bike producers as well as end customers interesting new applications. MVP is impressed by COBI’s team with its international experience and outstanding entrepreneurial spirit.”

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Source TOC Agentur für Kommunikation GmbH & Co.KG

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