Germany-based smartbike system developer Cobi has completed a €6.3m ($7.1m) series A round featuring print and media services provider Meinders & Elstermann.
The round also included venture capital firms Capnamic Ventures, Creathor Venture and Munich Venture Partners.
Cobi integrates bike accessories such as lights, navigation, bell, alarm, smartphone holder, charger and bike computer into a single handlebar-mounted system that can connect to a user’s smartphone.
The funding will be used to increase Cobi’s international presence and develop new products, and brings its total funding to $11.5m.
Cobi was established in Munich in 2014, having raised $400,000 through crowdfunding site Kickstarter. The startup subsequently secured $4m in seed funding from Capnamic Ventures, Creathor Venture and Iris Capital in April 2015.