COBI, German connected biking company, nets €6.3M from Munich Venture Partners et. al

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.”

About COBI

COBI is the specialist for Connected Biking. The company develops and markets an integrated patented system to upgrade bikes with both hardware and software elements. It offers the user access to over 100 integrated features. The COBI team has years of experience in digital business and marketing. COBI was founded by Andreas Gahlert in Frankfurt am Main at the beginning of 2014, and now has more than 50 employees in Frankfurt, Hamburg and San Francisco. COBI became a sensation in December 2014 on the US platform Kickstarter. Raising 400,000 US-Dollars, the crowdfunding campaign became the second most successful biketech project worldwide and raised four times its target funds.

More information can be found at: www.cobi.bike Images and more information: http://cobi.bike/press.html

Press contact: Andreas Gahlert | press@cobi.bike | Telephone: +49 69 272 461 70

About Capnamic Ventures

Capnamic Ventures is an independent venture capital enterprise with offices in Cologne and Berlin that invests in business models along the digital value added chain. These include growth markets such as mobile, eCommerce, gaming, payment, advertising and software-asa-service models. The Capnamic Ventures team can rely on the expertise acquired in the course of over 100 equity interests and 30 years of investment experience. The investors chiefly are enterprises and entrepreneurial families. In addition to its own fund, Capnamic Ventures also takes care of the entire portfolio of DuMont Venture, the holding company of the media group M. DuMont Schauberg. Further particulars are available at: www.capnamic.de

Press contact: Folker Dries | capnamic@heringschuppener.com | Phone: +49 (0) 151 16231556

About Creathor Venture

As a leading European Venture Capital firm, Creathor Venture invests in technology-oriented companies and entrepreneurs. The focus is particulary on mobile, e-, m-, s-commerce, media, cloud, life science, mobile health and diagnostics. Regional focus is on Germany, Switzerland, Austria and Scandinavia. The current portfolio of more than 30 companies is actively supported in development, growth and internationalization by our team of 17 staff. The management team of Creathor Venture consists of the founder of the former Technologieholding VC GmbH, Dr. Gert Köhler as well as Cédric Köhler and Karlheinz Schmelig. The team has built more than 200 technology companies successfully, conducted more than 20 international IPOs and has achieved exceptional returns for fund investors and the financed entrepreneurs in the past. Creathor Venture manages funds of more than EUR 180 million (US Dollars 240 million) and currently has offices in Germany (near Frankfurt, Munich and in Cologne), in Zurich and in Stockholm. Press release The investors of the current fund include the European Union, through which the fund receives funding from the “Competitiveness and Innovation Framework Programme” (CIP), and the “ERP EIF fund of funds” and the LfA – Gesellschaft für Vermögensverwaltung mbH, both facilities of the European Investment Fund (“EIF”), fund of funds, family offices and entrepreneurs. As the largest investor in Creathor the management underlines its entrepreneurial orientation.

For more information, please visit: www.creathor.com

Press contact: Andrea Kaidel | Phone: +49 6172 13 97 215 | andrea.kaidel@creathor.com

About Munich Venture Partners

Munich Venture Partners is a Venture Capital firm managed by senior managers from the high technology and energy industry, and experienced Venture Capital professionals. As the prime partner of the Fraunhofer-Gesellschaft, one of the world’s leading research organizations for applied research, Munich Venture Partners is investing in selected high-tech start-ups in the environmental technology and energy sector. Munich Venture Partners is in part funded by the European Union and its Competitiveness and Innovation Framework Programme (CIP). For more information, please visit: www.munichvp.com

 

Source: Cobi Press Release

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