Belgian gear hub specialist Classified has confirmed a €22 million funding round with Active Partners, whose investments include brands such as Evans Cycles and Rapha.
Classified gear-shifting hub, Powershift, has had an expanding footprint with the company tying up with a number of bike and wheel brands.
“Today we are proud to announce that we have closed a funding round led by Active Partners, the investors behind well-known cycling brands Rapha and Evans Cycles,” said Mathias Plouvier, Co-Founder and CEO at Classified.
“With this investment, we are fired up to further develop ground-breaking products and launch into the e-bike market.”
Plouvier continued “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.”
