LONDON, UK - To facilitate its European expansion, insurance company Laka has secured additional funding from Porsche Ventures, the venture capital unit of Porsche AG. This brings its Series A, led by Autotech Ventures and by Ponooc, who has close ties to Pon, and ABN AMRO, to €12.7 million.
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AALBORG, Denmark - PentaLock has raised €1.6 million in pre-seed funding from current investors and a lineup of Danish business angels. This investment will allow the start-up to make the next step in developing the company and meeting the target market's needs.
TAIPEI, Taiwan - OEM and aftermarket fastener component manufacturer New Goose Berry introduced its new series of cold forged cable guides and stops at Taipei Cycle 2022.
TAIPEI, Taiwan - Voltraware presented a demo of its charging pad for wireless e-bike charging during this year's Taipei Cycle show. The newcomer to the e-bike world, with a history in consumer electronics, aims to change the charging behaviour of e-bike users.
TAIPEI, Taiwan - To meet the growing demand for its products, Taiwanese manufacturer Sunny Wheel is currently building a new factory. Sunny Wheel will double in size and the new Taichung based facility is expected to be up and running mid-2023, the company announced at Taipei Cycle Show alongside the presentation of a series of new products.
ZURICH, Switzerland - The Indian tiger strikes in Switzerland for the second time within a few months. Following the acquisition of Ego Movement, TVS Motor Company has taken over the majority of Swiss E-Mobility Group (SEMG) from Constellation Capital. The intention seems clear; The Indian mass producer wants to gain a foothold in the booming e-bike market in Europe.
OSAKA, Japan - In its financial statement on the first nine months of 2021, the Shimano Group again reports a brisk sales increase of its bicycle component segment of 56%. From the same period in the previous year, bicycle component turnover jumped to JPY395,187 million (€3 billion), and operating income was up 103.4% to JPY113,719 million (€864 million).
DRESDEN, Germany - To reach their ambitious expansion strategy for their brick and mortar bicycle chain store in Germany, Little John Bikes MD René Schramm and Robert Peschke brought private equity firm Borromin Capital Management GmbH on board.
DRESDEN, Germany -The Riverside Company has planned an IPO for one of Europe's leading cycling, outdoor, fitness and swimming products webshop Bike24 this year. According to a company statement they, "aim to accelerate growth and finance future business development." Prior to the IPO, The Riverside Company will issue a private placement.
MONTREAL, Canada - Dorel Industries has terminated the going-private transaction which was announced last November. To convince the current owners, an initial offer of Cerberus Capital Management LP representing the buyers was raised two weeks ago. But it did not convince the two main shareholders of Dorel Industries.
SUZHOU, China - The future battery market will be disrupted by the growing popularity of e-bikes in combination with the electrification of all other means of mobility, like cars, light vehicles and even trucks. Battery manufacturers therefore need to strengthen their energy planning and construction capacity. To quickly meet the rising demand, more large-scale battery manufacturing sites with 50 GWh capacity have to be established.
SYDNEY, Australia - The Australian carbon fibre bicycle wheel company Xtreme Carbon has been granted a USA Patent for its wheel design methodology and Aero hub and axle system which enables bicycle wheels to be designed and assembled with a significant reduction in aerodynamic drag.
BERLIN, Germany - To support the roll-out and European market launch of its Pedal Assisted Transporter (PAT), start-up Onomotion GmbH received a € 3 million cash-injection from InnoEnergy SE.
SAINT-JEAN-DE-MOIRANS, France - Last June, Rossignol announced that the Group had reached an agreement with the French start-up WhaTTfornow to acquire the industrial and commercial activities of Time Sport.
FULDA, Germany - The Büchel Edge rear light with integrated Z reflector, is the first sensor-controlled brake light for bicycles in accordance with the new StVZO and ECE guidelines. Büchel has introduced the brake light for model year 2021.
OSAKA, Japan - In its financial statement of the first quarter of 2020, the Shimano Group reported a downturn in sales since mid-March. The company also pulled its full-year business performance forecasts. The situation has changed drastically since last month. "Bicycle assemblers in Europe are seeing a surge in orders and retailers in the US are running out of stock," said Shimano's CEO, Yozo Shimano.
TAIPEI, Taiwan - Next to the news that the daily number of casualties in China is now dropping; it's also reported that Giant and Merida have resumed their operations in China. Is it a first indication that things are normalizing in China?
MONTREAL, Canada - Dorel Sports including Cycling Sports Group showed a strong third quarter performance; like in the 2nd quarter. Between July and October, revenues increased by 14.2 percent.
ATLANTA, USA - High-end bicycle pedal expert Speedplay has been taken-over by fitness equipment specialist Wahoo Fitness. "The Speedplay product range is complementary to our increasing line-up of high-quality indoor- and outdoor-cycling products," announced Wahoo. The purchase price remains undisclosed.
