Classified Cycling, a Belgium-born eBike startup noted for its unique bikes that enable cyclists to instantly change gears when under full load, has concluded a funding round totaling €22 million.
VC Active Partners, a London-based investment firm that has backed cycling companies including Rapha and Evans Cycles, spearheaded the investment. Along with Olympic and World Champion riders Tom Boonen, Anna Van der Breggen, Andre Greipel, and Marcel Kittel, Bridford Investments Limited also took part in the round.
The fresh funds will be used to speed up the development of new products, including e-bikes, grow the Classified team, and create new business and strategic alliances around the world. Nick Evans, Chairman of Rapha and previous Executive Chairman of Evans Cycles, will join the Classified board as a managing partner at Active Partners.
“We have built technology unseen in the cycling business, elevating rider experience to the next level. By utilizing ground-breaking technologies, we can push the limits of what is practical on a bike,” stated Mathias Plouvier, co-founder and CEO of Classified.
Mathias continued, “For maximum performance and the next generation of e-mobility, features like shifting under load and increasing efficiency are crucial. We are ready to provide our technology to cyclists all around the world thanks to this fresh financing and our desire to disrupt the cycling business.”
The gear system of a car is comparable to this ground-breaking technology. Elite cyclists have praised the Powershift hub since it was introduced in 2021, and four cycling legends have invested in Classified and served as brand ambassadors. The product has already achieved its first victories in professional racing, and the UCI, the cycling industry’s governing body, has approved it for use in competition.
Over 40 brands have already partnered with Classified, and 300 dealers and more than 25 distributors in important markets offer the Powershift hub. With a major emphasis on the US and Europe, the new investment will be used to strengthen corporate expansion.
To increase the accessibility of its high-tech products to more riders worldwide, Classified will also enter the e-bike market using its Powershift technology to create a transmission for electric bikes that is lighter, more robust, and more efficient.
“Classified is disrupting the bike and e-bike markets with a genuinely distinctive and innovative product that radically improves the riding experience for all cyclists,” said Nick Evans, Managing Partner at Active Partners.
Nick further said, “Once you ride it, you’ll notice the difference. We are inspired by Mathias and Roll’s plan to change the face of cycling, and we look forward to working with them to develop their products more quickly, invest in the Classified brand and distribution, form business alliances, and hasten the industry and riders’ global adoption of their technology.”
Former cycling world champion Tom Boonen, a Classified investor, said further: “As a competitive cyclist, I was constantly looking for cutting-edge technology. When I first met the Classified Team, I was so impressed by their cutting-edge products that I decided to invest in the business, not just for its technology but also for its desire to revolutionize the market in areas other than race bikes. I’m ecstatic to be a part of Classified’s journey and am looking forward to supporting them in the future.
Image Credit: Classified Cycling