CHANGHUA, Taiwan - Merida Industry Co. Ltd. Has enlarged its majority ownership in its German distributor Merida & Centurion Germany GmbH (MCG), which is managed and owned by German industry veteran Wolfgang Renner.
LONDON, England - Skarper, which was founded in 2020, has secured £4.5m (€5.1 million) in additional financing from a syndicate of prominent investors for developing its portable drive system. The start-up will use the investment to deliver its first products to the market in Q4 of this year.
BRUSSELS, Belgium - The omnichannel brand Cowboy has announced a new strategic investor. Cypress Capital is leading a €5 million financing round supported by existing investors. Hongkong based Cypress Capital invested €3 million while other existing Cowboy partners Index Ventures, Hardware Club, Future Positive Capital, Isomer, and Exor together invested another €2 million.
HASSELT, Belgium - A leading Belgian lease concept provider Cyclis has been acquired by JobRad Group as of 2 September. The much bigger JobRad Group obtained 60% of the shares while founders and other stakeholders now own 40%. "We share the same vision, ambition and approach. In JobRad Group, we have found the ideal partner to further strengthen our position on the Belgian and Dutch market," says Joep Kempen, CEO of 10 years old Cyclis.
TAICHUNG, Taiwan - Despite a double-digit revenue drop Taiwan's third-largest bicycle manufacturer Ideal Bike Corporation is continuing to work on getting a grip on the losses incurred in the past. A look at the 2024 second quarter and first half-year figures indicate a successful restructuring of the financial setbacks.
ALKMAAR, the Netherlands - Wholesaler, exclusive agent for many brands and incubator for the Dutch retail market AGU has had to apply for Chapter 11 status and suspend payments.
ROTORUA, New Zealand - Start-up Bike Matrix has secured a significant NZ$2 million (€1.1 million) investment from within the bicycle industry. "This investment from within the bicycle industry, brings invaluable market validation, experience, and expertise from a seasoned industry insider." The name of the investor remains undisclosed but Bike Matrix co-founder Adam Townsend confirmed to Bike Europe that it is a component manufacturer.
AMSTERDAM, the Netherlands - Fundracer BV launched their first micromobility fund with a mission to provide capital and hands-on support to companies poised to become leaders in the fast-growing micro-mobility industry. Founded by bike industry entrepreneurs René Wiertz, Gérard Vroomen, and Andy Ording, Fundracer is expertly positioned to support companies in this market to maximize their chances of success.
WARSAW, Poland - The total value of the Polish e-bike and bicycle market combined is expected to reach PLN 4.9 billion (€1,13 billion) in 2024. Also the sale of e-bikes has started to increase significantly and is already valued at PLN 1.25 billion (€ 289 million).
DULUTH, USA - Fox Factory business division Specialty Sports Group (SSG), which includes bikes, was able to report a double-digit sales increase in the first half of 2024. Though this was mainly rooted in the acquisition of Marucci Sports, as bike sales dropped by $22.9 million (€21 million).
