Cowboythe Brussels-headquartered e-bike designer has raised 71 million pounds ($95 million) to peddle its expansion in the United States and beyond, EU Startups reported.

The round was led by Exor, the Amsterdam-based venture capital fund, HCVC, the Parisian startup funder, and Siam Capital, the Bangkok-based investment firm.

There was also support from Tiger Global, Index Ventures, Eothen, Isomer Opportunities Fund, Future Positive Capital and Triple Point Capital.

“Since day one at Cowboy, we have been focused on designing the easiest, most intuitive ride feel anyone has experienced in an e-bike,” said Karim Slaoui, co-founder and vice president of hardware technologies at Cowboy, in a statement. “Now we can go even further with bike technology and how it couples with the app for a truly seamless cycling experience for every rider.”

Founded in 2017, Cowboy said it is on track to reach over 100,000 runners by 2023.

Cowboy operates in Austria, Belgium, Denmark, France, Germany, Italy, Luxembourg, Netherlands, Spain, Sweden, UK and USA. This year will bring more expansion.

A Berlin store is expected to open in February. In May, a boutique in Paris is set to debut.

Competition in Europe for the electric scooter market continues to thrive. Startups have capitalized on the sustainability trend to reduce greenhouse gas emissions and ease car traffic congestion in Europe’s densely populated cities.

Read more: Competition grows in crowded European electric scooter market as US players flock

The pandemic has caused commuters to avoid public transport and seek alternative transport, which has boosted the popularity of shared micro-electric vehicles in the region.

Last year, European eScooter rental players like Voi, Tier and Dott raised millions of dollars in venture capital to expand their businesses, a clear indication that the growth of the alternative transport market is not slowing down. anytime soon.

Read more: Swedish startup Voi Scoots secures $160 million funding for AltTransportation