# coModule

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/comodule

- Industry: Software
- Headquarters: Berlin, Germany
- Website: www.comodule.com
- Total disclosed funding: $0.6M
- Latest round: Seed (Jun 29, 2015)
- Investors on record: 1

## About

coModule specializes in developing Internet of Things (IoT) solutions for e-bikes, providing connectivity services for real-time tracking, enhanced security, and improved user experiences.Founded in 2014 in Berlin, Germany, coModule focuses on IoT solutions for the e-bike industry. The company was co-founded by Teet Praks and Welix Klaas. In June 2015, coModule raised EUR 0.5 million in a Seed round from High-Tech Gründerfonds, which increased their total amount raised to EUR 0.5 million and valued the company at EUR 3.922 million.coModule is a leading provider of Internet of Things (IoT) solutions specifically designed for e-bikes. The company offers a comprehensive suite of connectivity services that enable real-time tracking, smart security features, and enhanced user experiences for both e-bike manufacturers and consumers. coModule's flagship products include a cloud-based platform that integrates seamlessly with various e-systems and hardware components, allowing for functionalities such as remote diagnostics and over-the-air software updates. These solutions are particularly aimed at improving the safety and convenience of e-bike usage, addressing prevalent issues like vehicle theft and maintenance. coModule serves a diverse global client base that includes manufacturers, shared mobility services, and individual riders across Europe and North America, promoting smarter and safer urban transportation.coModule's revenue model primarily revolves around B2B partnerships with e-bike manufacturers and rental fleet operators. The company generates income through the sale of its IoT hardware and subscription-based access to its cloud platform, which provides continuous connectivity and updates for end users. Transactions typically involve agreements wherein manufacturers purchase coModule's devices to integrate into their e-bikes, while rental services pay a subscription fee for ongoing access to real-time data and support. Specific pricing structures for these services reflect the custom nature of the solutions, catering to the unique needs of each client and their respective market. coModule's revenue is bolstered by the growing demand for connected transportation solutions, as evidenced by its expanding footprint in the e-mobility sector.In June 2015, coModule secured EUR 0.5 million in Seed funding from High-Tech Gründerfonds, which will be utilized to enhance growth, implement technology, and initiate market entry. The company plans to expand its product offerings with new IoT devices designed for enhanced e-bike functionalities and aims to penetrate additional markets in Europe and North America by 2023.

## Funding rounds

- Seed, Jun 29, 2015, $0.6M — High-Tech Gruenderfonds

## Investors

- High-Tech Gruenderfonds (https://capitalatlas.ai/funds/high-tech-gruenderfonds) — Seed