# Cowboy

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

- Industry: Automobiles, Other Vehicles & Parts
- Headquarters: Brussels, Belgium
- Website: www.cowboy.com
- Total disclosed funding: $55M
- Investors on record: 24

## About

Based in Belgium, Cowboy SA specializes in producing innovative connected e-bikes that enhance urban mobility, offering a seamless riding experience with advanced features.Cowboy SA, founded in 2017 in Brussels, Belgium, focuses on developing connected e-bikes. The founding team includes Adrien Roose, who has previously founded other companies, and the organization has successfully executed 13 funding deals. Most recently, on August 14, 2025, Cowboy raised EUR 4.00 mn in a funding round led by Cypress Capital, bringing the total amount raised to EUR 4.00 mn, with a current company valuation of EUR 44.00 mn.Cowboy specializes in the development and sale of high-quality connected e-bikes aimed at improving urban mobility. Their product lineup includes models such as the Cruiser, Cruiser ST, Classic, Cross, and Cross ST, featuring advanced technology like AdaptivePower™ for customized assistance, GPS theft detection, and an integrated app for navigation. Targeting environmentally conscious consumers, Cowboy has expanded its presence in international markets, particularly in Europe and the United States, catering to a diverse customer base of commuters and adventure seekers.In 2024, Cowboy reported a revenue of EUR 23,457,177.40 with an EBITDA of EUR -18,098,450.90. Revenue is primarily generated through direct-to-consumer sales of e-bikes, which are priced between EUR 2,699 and EUR 3,999. The company also offers a range of accessories and services, including theft insurance and maintenance, leveraging over 200 service locations to enhance customer experience and facilitate potential retail partnerships.In August 2025, Cowboy SA secured new venture debt funding from Rebirth Group to restore production levels and address recall issues. The company continues to design and develop new e-bike models, with plans to target additional European markets for expansion. The recent funding will support these initiatives and help stabilize production while enhancing the product range.

## Funding rounds

- Round, Nov 4, 2026, $5M — Aashay Sanghvi, Anagram, Compound, Farnaz Azmoodeh, Ian Lapham, James Smits, Kevin Kwok, Mats Olsen, Nebular, Semantic Ventures, Shine Ventures, Uncommon Projects
- Series C, Jan 25, 2022, $19M — Index Ventures, Tiger Global Management, SIAM Capital, TriplePoint Capital, HCVC, Isomer Capital, Future Positive Capital, Exor Seeds, Aldea Ventures, Eothen
- Series B, Aug 4, 2020, $16M — Index Ventures, Tiger Global Management, HCVC, Isomer Capital, Future Positive Capital, Exor Seeds
- Series A, Nov 6, 2018, $12M — Index Ventures, Tiger Global Management, HCVC, Greyhound Capital
- Seed, Dec 21, 2017, $2.9M — Index Ventures, Kima Ventures, HCVC, Greyhound Capital

## Investors

- Index Ventures (https://capitalatlas.ai/funds/index-ventures) — Seed, Series A, Series B, Series C
- Kima Ventures (https://capitalatlas.ai/funds/kima-ventures) — Seed
- HCVC (https://capitalatlas.ai/funds/hcvc) — Seed, Series A, Series B, Series C
- Greyhound Capital (https://capitalatlas.ai/funds/greyhound-capital) — Seed, Series A
- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Series A, Series B, Series C
- Isomer Capital (https://capitalatlas.ai/funds/isomer-capital) — Series B, Series C
- Future Positive Capital (https://capitalatlas.ai/funds/future-positive-capital) — Series B, Series C
- Exor Seeds — Series B, Series C
- SIAM Capital — Series C
- TriplePoint Capital (https://capitalatlas.ai/funds/triplepoint-capital) — Series C
- Aldea Ventures (https://capitalatlas.ai/funds/aldea-ventures) — Series C
- Eothen (https://capitalatlas.ai/funds/eothen) — Series C
- Aashay Sanghvi
- Anagram
- Compound (https://capitalatlas.ai/funds/compound)
- Farnaz Azmoodeh
- Ian Lapham
- James Smits
- Kevin Kwok
- Mats Olsen
- Nebular
- Semantic Ventures (https://capitalatlas.ai/funds/semantic-ventures)
- Shine Ventures
- Uncommon Projects (https://capitalatlas.ai/funds/uncommon-projects)