SOURCE: iCradle

iCradle

January 13, 2015 08:55 ET

UPDATE - Award-Winning COBI Smart Bike System Closes Kickstarter Funding With $400,000 in 30 Days

2nd Most Successful Bike Tech Crowdfunding Campaign of All Time Brings Connected Technology to Any Bike

FRANKFURT, GERMANY--(Marketwired - Jan 13, 2015) - COBI, the world's smartest connected biking system reached the finish line of its Kickstarter campaign with a resounding triumph, having raised just over $400,000 in less than a month. This exceeds its initial fundraising goal by 4X.

Highlights of the campaign include:

  • More than $400,000 raised in only 30 days
  • Nearly 1,900 backers from 18 countries
  • On average 300 customer enquiries per day
  • Over 55 industry inquiries for B2B/OEM versions of COBI
  • 12 investor requests
  • 15 job applications
  • Overwhelming response in social media
    • More than 2 million people reached
    • More than 200,000 video views
  • Further countries added due to strong backer demand (e.g. Switzerland, Singapore)

In addition to COBI ranking among the third most successful Kickstarter campaigns from Germany, it also was the second most successful bike accessory campaign and the fourth most successful bike campaign in Kickstarter history. This is all the more incredible considering the campaign ran during what isn't traditionally considered bike season.

The campaign featured a series of stretch goals that were met, which means that COBI will be available across more iPhone and Android phone models than originally planned.

On the heels of COBI's Kickstarter success, COBI was awarded two accolades, a Bluetooth Breakthrough Award by CNET at CES earlier this week and was named a finalist in the Wearable Technologies' Innovation World Cup.

Even though the Kickstarter campaign is closed, people interested in pre-ordering the COBI system can visit www.cobi.bike. The COBI system is expected to ship by Q2 2015.

Andreas Gahlert, Founder:
"The COBI Kickstarter campaign highlighted a demand that we expected was there -- consumers crave safe, affordable, integrated smartphone biking technology. We're grateful to the feedback we've received and the interest fans have shown us. What really surprised me is the huge demand from both consumers and the cycling industry. This indicates that we are on the right track!"

Industry Feedback:
Frank Aldorf, Specialized CBO: "There's an increased number of people on bikes, and I think they ask for having a smoother, more comfortable and more enjoyable ride has definitely increased with that," Aldorf said. "It's less about the bicycle and more about the riding experience. The bike hasn't changed a lot -- in terms of innovation, we celebrate being able to shave a few grams off a road bike each year -- but the experience of riding a bike has changed, and now it can be richer if you want it to."

Financing of COBI:
In addition to Kickstarter, the COBI system has been financed by 11 investors so far. To date, nearly $1.3 million has been invested in product development. Venture Capital investments will support taking COBI into production too. Kickstarter funds provide an immediate influx in capital that allows COBI to speed to market.

The system: COBI is a world-first in many ways. It's the first integrated system for bikes, integrating the most popular smartphones, which turns every bike into a smart bike at an affordable price. The patented system integrates five typical bike accessories into one design: a light, a navigation system, a smartphone holder with charging function, a bell, and a bike computer. COBI's greatest strength lies in the in the seamless integration of more than 100 features that make biking more connected, smarter and safer: Navigation system, weather barometer, music player, smartphone-charger, thumb controller, brake light, Indicators, alarm system, online services, social media, mobile connectivity, fitness interface, styling kits and much more.

COBI was designed to be future proof: The modular construction allows COBI to be upgraded for the next generations of smartphones.

COBI offers a number of partner programs for bike manufacturers, retailers and service partners. An SDK for Software Developers will allow other companies to extend and integrate with the COBI system.

The company: iCradle began with the product development in Winter 2013 in Germany and has now started the final phase of product development in December 2014. iCradle launched COBI for one month on Kickstarter as the final step before production.

The Team: iCradle was founded by Andreas Gahlert. Before iCradle, he was the CEO of the multimedia agency "Niue Digitale" for 10 years before selling it to Razorfish in 2006. He managed dozens of customers and 200 employees and with his team he won over 300 awards for digital innovations, for customers like Adidas and Audi.

About COBI, the World's Smartest Connected Biking System

  • Worldwide first Connected Biking Upgrade for everyone
  • With Bluetooth, CAN, ANT+
  • Delivers 10+ exclusive functions
  • Incl. Navigation, Charging system, anti Theft, LED-Light, brake light, indicators, music player, etc.
  • Supports Spotify, Google Fit, Apple Health, Podcasts, Gaming, Social Media, etc.
  • Additional sensors: Light, Barometer, Accelerometer and Altitude
  • Selling price: starting from $185

Requirements for COBI installation

  • Standard Bikes with handlebars-Ø 25-34 mm, stem: width max. 60 & Ø max. 50 mm
  • Apple iPhone 5, 5C, 5S, 6, 6Plus, Samsung S4, S5, Nexus 5 and many others with universal case
  • Exclusive to E-Bike-Model: Current Bosch-System from 2013 COBI updates will follow to support newer editions and other CAN-compatible electric drive systems (e.g. Brose, Yamaha)

Download Material & RSS:
www.press-service.info/cobi

Further information:
www.cobi.bike
 

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Contact Information

  • Press contact:
    Paul Wilke
    CEO
    Upright Communications
    +1-415-881-7995
    Email Contact