Jo Beckendorff

DARMSTADT, Germany - Software developer and owner of It's My Bike, IoT Venture GmbH, has successfully closed a Series A financing round. The investment volume which amounts to €1.2 million comes equally from BMH Beteiligungs-Managementgesellschaft Hessen mbH and venture capital provider Mobility Boost GmbH and will be used to further scale the company.

KOBLENZ, Germany - An unexpected change in leadership at online seller Canyon with the announcement that CEO Armin Landgraf will leave his position on short notice. On 1 October current CFO Winfried Rapp will take over Landgraf's management on an interim basis.

MUNICH, Germany - E-bike drivetrain provider Fazua GmbH has officially announced the acquisition of drivetrain technology sensor manufacturer Innotorq GmbH. No details have been given about the sale price.

ELCHE, Spain - Spanish premium bike supplier Mondraker has moved to its new headquarters in Elche, 30 kilometers southwest of Alicante. The new building packs everything under one roof, offices as well as production. According to the company this creates synergies and increases efficiency.

MUNICH, Germany - Initially IAA Mobility organiser Messe Munich sent out an exclusively positive and superlative review on the premiere of their mobility trade show. A few days later, Tobias Gröber, Managing Director of the Consumer Goods Division at Messe Munich and responsible for the event spoke out again.

BINH DUONG PROVINCE, Vietnam - In order to put a stop to the rampant Delta variant, Vietnam has been in lockdown by government decree for a whopping two months. As a direct result, lead-times in the bicycle industry are going up.

MATTIGHOFEN, Austria - KTM Fahrrad GmbH is currently investing to generate further growth. The Austrian e-bike manufacturer is focusing on making its production more modern and sustainable. With significant corona tailwind driving e-bike sales, more than €30 million will be spent in this phase of investment.

DRESDEN, Germany - Bike24 Holding AG - the German e-commerce bike, running and swimming sports retailer that has been trading on the stock exchange since June, brought in first half year 2021 sales of €127.4 million. Compared to the first six months of the previous year, this is an increase of 44%.

TAICHUNG, Taiwan - Despite supply constraints, container shortages and unfavourable exchange rates, Taiwan's leading bicycle producer Giant Group continues to report strong sales results for the first half of 2021. The supplier is also committing to further growth in the

MILPITA, USA - Technology company, Arevo Inc has announced not only "the completion of the world's largest 3D printing facility for carbon fiber composite additive manufacturing", but also the first shipment of bicycles and e-bikes with frames out of the 3D printer.