{"id":8110,"date":"2023-03-09T08:25:45","date_gmt":"2023-03-09T08:25:45","guid":{"rendered":"https:\/\/entertainment.runfyers.com\/index.php\/2023\/03\/09\/e-bike-maker-cowboy-raises-new-funding-round-and-launches-adaptivepower\/"},"modified":"2023-03-09T08:25:45","modified_gmt":"2023-03-09T08:25:45","slug":"e-bike-maker-cowboy-raises-new-funding-round-and-launches-adaptivepower","status":"publish","type":"post","link":"https:\/\/entertainment.runfyers.com\/index.php\/2023\/03\/09\/e-bike-maker-cowboy-raises-new-funding-round-and-launches-adaptivepower\/","title":{"rendered":"E-bike maker Cowboy raises new funding round and launches AdaptivePower"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p id=\"speakable-summary\">Brussels-based startup <a href=\"https:\/\/cowboy.com\/\" target=\"_blank\" rel=\"noopener\">Cowboy<\/a> has been in the news lately for <a href=\"https:\/\/www.lecho.be\/entreprises\/private-equity\/cowboy-cherche-minimum-15-millions-d-euros-pour-se-remettre-en-selle\/10445988.html\" target=\"_blank\" rel=\"noopener\">its cash burn rate<\/a>. But the company wants to control its narrative again with some product and business news. Cowboy is launching a new feature called \u2018AdaptivePower\u2019, which automatically adjusts the power of the motor depending on the current slope and weather conditions.<\/p>\n<p>Cowboy\u2019s electric bikes are pretty straightforward \u2014 there is no gear and there are no + and \u2013 button to adjust the power of the motor. The company thinks riding a bike should be as easy as jumping on the saddle and putting a foot on the peddle.<\/p>\n<p>But that minimalistic approach has some drawbacks. While the default power mode works fine in most cities, it\u2019s not enough in hilly cities like San Francisco.<\/p>\n<p>Instead of releasing a new bike with gears or buttons, the company is leveraging the sensors in the existing Cowboy lineup, such as the gyroscope and accelerometer. While these sensors were originally included for crash and theft detection, they can be leveraged to make the bike smarter. Based on the current torque, speed and other factors, Cowboy automatically increases the power delivery of the electric motor or reduces it.<\/p>\n<p>This feature will be rolled out to Cowboy\u2019s latest models that were released <a href=\"https:\/\/techcrunch.com\/2021\/05\/08\/cowboy-launches-the-cowboy-4-e-bike-with-a-step-through-version-and-built-in-phone-charger\/\" target=\"_blank\" rel=\"noopener\">a couple of years ago<\/a> \u2014 the C4 and its step-through version the C4ST. It will be an over-the-air software update. Once the update is installed, you\u2019ll be able to choose between the \u2018adaptive\u2019 and \u2018eco\u2019 options in the mobile app for the motor power settings.<\/p>\n<p>In other product news, the company is also releasing some new colors for the C4ST as you can see in the image at the bottom of this article.<\/p>\n<h2>New funding round at a lower valuation<\/h2>\n<p>In January 2022, Cowboy announced an <a href=\"https:\/\/techcrunch.com\/2022\/01\/26\/cowboy-raises-80m-to-take-its-e-bike-business-up-a-gear\/\" target=\"_blank\" rel=\"noopener\">$80 million funding round<\/a>. A bit more than a year later, the company is raising more money. But it isn\u2019t disclosing the dollar figure of this new funding round.<\/p>\n<p>Of course, things have changed drastically for tech startups. VC firms aren\u2019t deploying capital as rapidly and startup founders sometimes struggle to raise their next funding round. For a hardware company like Cowboy, supply chain issues and inflation also had some impact on the company\u2019s margins.<\/p>\n<p>A few weeks ago, Cowboy co-founder and CTO Tanguy Goretti said in <a href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7029824804144742401\/\" target=\"_blank\" rel=\"noopener\">a spicy LinkedIn post<\/a> that the company was \u201cin the process of closing a \u20ac15M round\u201d (that\u2019s $15.8 million at today\u2019s exchange rate). From what I\u2019ve heard, Cowboy ended up raising a bit less than that, but an equity crowdfunding part is going to round up that round.<\/p>\n<p>He also added in his LinkedIn post that this recent funding round is a down round. The company\u2019s total valuation is down by 44% compared to the previous funding round. In other words, it\u2019s a long and windy road for Cowboy and the past few months have been more difficult than expected.<\/p>\n<p>But the startup\u2019s existing investors chose to invest more money in the company, which should improve the company\u2019s runway right before the peak season of Cowboy sales (between March and October). After some logistics challenges a year or two ago, Cowboy\u2019s margins are also back to where they should be.<\/p>\n<p>With AdaptivePower, Cowboy can now think about other potential vehicles as well. For instance, this feature would work particularly well with cargo bikes. But there\u2019s nothing to announce on this front for now.<\/p>\n<p>\u201c2022 has been our best year ever with \u20ac41 million in revenue and sales growing by 2.7x year over year,\u201d co-founder and CEO Adrien Roose said in a statement. Cowboy has sold 50,000 since 2018. And 2022 wasn\u2019t so bad at all as the company told me it managed to sell 20,000 bikes in a single year.<\/p>\n<div id=\"attachment_2497336\" style=\"width: 1034px\" class=\"wp-caption alignnone\"><\/p>\n<p id=\"caption-attachment-2497336\" class=\"wp-caption-text\"><strong>Image Credits:<\/strong> Cowboy<\/p>\n<\/div><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/techcrunch.com\/2023\/03\/09\/e-bike-maker-cowboy-raises-new-funding-round-and-launches-adaptivepower\/\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brussels-based startup Cowboy has been in the news lately for its cash burn rate. But the company wants to control its narrative again with some product and business news. Cowboy is launching a new feature called \u2018AdaptivePower\u2019, which automatically adjusts the power of the motor depending on the current slope and weather conditions. Cowboy\u2019s electric [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8111,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":{"0":"post-8110","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-tech"},"_links":{"self":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/8110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=8110"}],"version-history":[{"count":0,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/8110\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/8111"}],"wp:attachment":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=8110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=8110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=8110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}