MVP et al. sell Cobi to Bosch eBike Systems

Creathor Venture, Capnamic Ventures and Iris Capital also made an exit through the sale.

After the most recent funding round in 2015, MVP was the largest shareholder with 20.85%, followed by founder Andreas Gahlert through his holding company Gahlert Beteiligungsgesellschaft with 19.94%, according to publicly available documents.

Creathor held 18.32% through Creathor Venture III, which held a final close on €80m in October 2012. Capnamic owned a stake of slightly more than 10%. The remaining shares were held by family offices and private individuals.

Bosch eBike is a subsidiary of the technology company Robert Bosch. It makes electric drive systems for bikes and will expand its portfolio into connected products and services through the acquisition.

The Bosch subsidiary already had an on-board computer called Bosch Nyon, but Cobi will allow it to connect directly with a smartphone application.

Previous funding
In May 2014, Cobi raised a €500,000 seed round from family offices and business angels. It also raised more than $400,000 in a crowdfunding campaign.

In April 2015, Capnamic, Iris and Creathor invested €4m in the company to allow it to hire an additional 20 people.

MVP then led a €6.3m round in January 2016 with the participation of all previous investors.

Company
Founded in 2014, Cobi is a modular system consisting of a handlebar mount, head- and tail-lights, a thumb controller and a smartphone app. It upgrades a normal bike to a smartbike, providing 100 functions including a navigation system, brake lights and anti-theft protection. The company has 35 employees.

People
Munich Venture Partners – Martin Kröner (partner).
Bosch eBike Systems – Claus Fleischer (CEO).
Cobi – Andreas Gahlert (CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• DACH
• Technology
• Germany
• Venture
• Trade sale
• Iris Capital