New investors join Belgian company with mission to reinvent bicycle shifting, expand into eBike drivetrains and to strengthen presence in global markets. Investors such as Olympic and World Champion riders, Tom Boonen, Anna Van der Breggen, Andre Greipel and Marcel Kittel are joined by Rapha Chairman Nick Evans' Active Partners.
ANTWERP, Belgium, Dec. 1, 2022 /PRNewswire/ -- Classified Cycling, a Belgium-based company developing innovative technology for the cycling industry, today announces it has closed a funding round of ?22 million led by Active Partners, the investors behind well-known cycling brands Rapha and Evans Cycles. Bridford Investments Limited also participated in the round. Nick Evans, Managing Partner at Active Partners, Chairman of Rapha and former Executive Chairman of Evans Cycles, will join the Classified board.
Founded in 2019, Classified has developed Powershift technology, a patented wireless shifting system that provides the ultimate shifting experience by allowing riders to change gears instantly while under full load, something not possible with current products on the market. Classified quickly brought this game-changing technology to market by shipping product to consumers in 2021. Classified's ambition is to make cycling more enjoyable for all types of riders by eliminating current derailleur-based shifting systems with a completely internal drivetrain that will shift faster and will all but eliminate maintenance.
"Classified's Powershift technology is the first major technological improvement since Shimano and SRAM took control of the cycling market decades ago," said Mathias Plouvier, Co-Founder and CEO at Classified. "Our innovation makes the experience of riding a bike so different from the current paradigm that it is almost magical. With our new investment and an appetite for disrupting the cycling industry we are well equipped to take our technology to riders around the world. We have reached agreements with over 40 brands and are looking to expand our business as a supplier to the largest OE brands in the world. We will also be a great partner to e-bike manufacturers as we have a significant technological upgrade in the works for this rapidly growing group of riders."
"Classified is disrupting the bike and e-bike markets with a genuinely differentiated and innovative product that radically improves the riding experience for all cyclists," said Nick Evans, Managing Partner at Active Partners. "Ride it once and you will feel the difference! We are excited by Mathias and Roëll's vision to transform the future of cycling and look forward to helping the team to accelerate their product development, invest in the Classified brand and distribution, build strategic partnerships and accelerate the widespread adoption of their technology by the industry and riders around the world."
Classified is already in partnership with over 40 brands, and the Powershift is available through more than 25 distributors and 300 dealers in key markets. The new investment will be used to strengthen business development, with a strong focus on the US and Europe. Classified will also expand into the e-bike market, leveraging its Powershift technology to make a lighter, more durable and efficient transmission for electric bikes, making their deep tech products available to more riders globally.
Founded in 2019 by Mathias Plouvier and Roëll van Druten, both with backgrounds in the automotive drivetrain industry, Classified has developed Powershift technology, a patented wireless shifting system that provides the ultimate shifting experience by allowing riders to change gears instantly while under full load, something not possible with current products on the market. This first-of-its-kind technology increases the efficiency and simplicity of the bike's transmission, making it more like a gear system found in a car. The first application of Classified's technology, the Powershift hub, is a transmission system integrated into the rear wheel that replaces the front derailleur (the component that moves the chain from one chain ring to the other when changing gears).
Classified is a deep tech company with the mission to create drivetrain products that transform the riding experience and performance of all cyclists. Classified is located in Antwerp (Belgium) and Eindhoven (the Netherlands). Classified's product portfolio (drivetrain systems and wheels) are available through more than 40 bicycle brands and from a global network of certified distributors and dealers. The company's investors include well respected Olympic and World Champion riders Tom Boonen, Anna Van der Breggen, Andre Greipel and Marcel Kittel.
Active Partners is a consumer-focused investment firm that backs and builds the iconic brands of tomorrow, partnering with visionary founders through all stages of growth. Founded in 2004, Active Partners has invested in world-class businesses such as Rapha, Evans Cycles, Soho House, Finisterre, TALA, LEON, Northern Monk, Vinterior and Code First Girls.
SOURCE Classified Cycling
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