Estonian box bikes manufacturer KP Cyclery raises funding from Comodule and other investors
Ellex in Estonia advised KP Cyclery, Estonian box bikes manufacturer, on their recent financing round.
The additional funding is planned to be used primarily for the further development, marketing, and increase of inventory of the Nighthawk box bike. The company aims to launch an electric bicycle in 2022, which will be connected to an electronics module developed and manufactured by Comodule. The module allows individuals to track the location of their bike, maintenance cycles, and information about the bike from a mobile app.
KP Cyclery was advised by Counsel Antti Perli.
About KP Cyclery
KP Cyclery, founded in Denmark in 2014, underwent a change of direction in the summer of 2020, moving from the production of city bikes to the production of box bikes. Since then, demand has been growing steadily, with 50% of all sales in 2020 already sold in the first two months of 2021, and growth is expected to continue. KP Cyclery’s mission is to improve people’s living environments through transport solutions that create social cohesion.
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