LONDON, England - Electric last-mile delivery vehicle provider, Zoomo, has raised an additional $20 mln (€17.5 mln) in its Series B funding round. The additional funds, which bring the total funding raised to date to over US $100 mln (€88 mln), will be used for product development and further market expansion.
DARMSTADT, Germany - IoT Venture GmbH, a software developer for e-bike GSP trackers, saw its revenue rise to €4.5 million in 2021. This equates to a tripling of the sales volume compared to the previous year which reflects the booming business of these tracking devices.
WELS, Austria - Austrian powered-two-wheeler giant Pierer Mobility AG has received approval for listing on the Prime Market of the Vienna Stock Exchange. The listing is scheduled for 1 March which will make it one of the 39 largest and most traded companies on the Vienna Stock Exchange.
COPENHAGEN, Denmark - A total of 6,530 investors were interested in Hagen Bikes, exceeding the IPO subscription of the Danish-Estonian cargobike manufacturer by 14.9 times. It shows that cargobikes are a hot investment.
WELS, Austria - Pierer Mobility, whose two-wheeled portfolio includes Felt Bicycles, GasGas and Husqvarna e-bikes but also KTM Motorbikes, has reported record sales for 2021. In a successful year for the bicycle division, e-bike sales were up 37% and traditional bicycle sales reached a 40% year-on-year increase.
DEBICA, Poland - The pandemic gave a major push to sales of Polish manufacturer Romet Group. For this year the company expects to increase sales by as much as 40% from PLN 322 million (€70 mln) to PLN 450 million (€98 mln). The net profit (EDITBA) is expected to amount to as much as PLN 45 million (€9.8 mln) this year.
ST-JEAN-DE-MOIRANS, France - Pierer Mobility Group is the new owner of the brand Felt. The acquisition is part of Pierer's strategy "to assume a leading global role in the bicycle sector" as the Austrian company announced. For Rossignol interim ownership of the American brand was just a way to gain bicycle competence.
MUNICH, Germany - Unlike many other industries, the cycling industry enjoyed a major boost in the Covid-19 year of 2020 - a development that continued into 2021. In the first quarter of this year, when many countries returned to lockdown
GOTHENBURG, Sweden - Developing an e-bike in which all energy is stored in the frame has come a step closer to reality with a recent innovation at the Chalmers University of Technology in Gothenburg, Sweden. Their latest research breakthrough paves the way for essentially 'massless' energy storage in vehicles and other technology.
MÜHLTAL, Germany - Premium e-bike supplier, Riese & Müller, is adding a new administration and production building to its 'green' state-of-the-art campus in Mühltal, Germany. Construction work for the new premises will begin in May 2021 and is scheduled for completion in July 2022.
TAIPEI, Taiwan - Bicycle innovations from all over the world can still register to take part in the Taipei Cycle d&i awards. Registration is open until 14 December 2020 and both exhibitors and non-exhibitors of the Taipei Cycle Show 2021 are invited to participate.
KONSTANZ, Germany - D2C-supplier Canyon Bicycles GmbH ended the financial year 2019/2020 (September end) with a record sales turnover of €400 million, an increase of 30%. Company founder and CEO Roman Arnold believes that the time is now right to set the future course for further growth, including changes to top management and enticing new investment partners.
BRUSSELS, Belgium - Investments are continuing from other sectors looking for a foothold in the booming bike business. Most recently, Italian mobility giant, the Agnelli family has invested in a Belgian e-bike start-up and associates from Mini Cooper and Adidas have partnered in a London-based bicycle subscription program.
REICHSHOF, Germany - With the e-bike boom continuing and a positive social climate for cycling, Schwalbe supplier Ralf Bohle GmbH recorded record-breaking 2019 sales of 206 million euro. The company's net sales increased by about 10 percent and with that it broke the 200 million mark for the first time in its history.
LELYSTAD, the Netherlands - Giant Ibérica and Giant France have joined forces and are with that becoming the biggest distributor within Giant Europe.
TAIPEI, Taiwan - Bicycle component manufacturer Glory Wheel Ent. and bicycle production machinery manufacturer Shuz Tung are two examples out of the bicycle industry of the total of 151 companies from a wide variety of sectors that applied for support at the Taiwan government to return their production from China.
TAICHUNG, Taiwan - Gomier Manufacturing Co. Ltd. is specializing in developing and manufacturing special bikes like tricycles for over 30 years in Taiwan. At this year's Eurobike the company showed its newest e-Cargo bikes.
MONTREAL, Canada - Dorel Sports including Cycling Sports Group (CSG; Cannondale, GT, Mongoose among other brands as well as Pacific Cycle and Caloi) is ringing alarm bells on the current situation at the North American bike market.
FRIEDRICHSHAFEN, Germany - Pacific Cycles debuted at last week's Eurobike in Hall B1. It's part of the company strategy to focusing more on Europe. And the time is right for that as the average age of the population is on the rise in almost all EU countries. In particular as Pacific Cycles targets elderly.
FRIEDRICHSHAFEN, Germany - In hall B4 at stand 403 Micromobility specialist Tern will be unveiling the HSD, an urban e-bike that is mini but mighty. "Many e-bikes on the market look like standard bikes with motor systems and batteries wedged in," states Josh Hon, Tern Team Captain.
