For the past five years blubrake has been redefining the concept of safety in light electric mobility, now the Italian scale-up is ready to expand further and has recently attracted a $6M Series A investment which allows the company to reach a total funding above $10M.
The round represents one of the largest fundraisings concluded within the Italian deep tech ecosystem. Among the investors, e-Novia and Progress Tech Transfer, the first venture capital fund to take position into the company.After developing and commercializing the first and only ABS (Antilock Braking System) for e-bikes completely integrated inside the bicycle frame and the only ABS for e-cargo bikes on the market, blubrake is now ready to take a step forward toward a further expansion of the customers portfolio thanks to a range of tech solutions that leverage the most advanced standards in electronic engineering and craft innovative safety solutions for e-mobility vehicles. «We have discussions underway with most of the top e-bike manufacturers and we target a market that has a turnover of more than 20 billion dollars. We have demonstrated to be able to develop and industrialize some best-in-class tech solutions chosen by some of the world leading bike manufacturers, and we are confident to replicate this success with more customers and more products» comments Fabio Todeschini, blubrake’s General Manager «This funding round will allow us to fast-track the investments in our industrial and commercial structures in order to keep expanding our footprint in the market and to bring new solutions to it»