Woom raises double-digit million amount

In 2022, the bicycle start-up generated sales of over 100 million euros for the first time. Now the Viennese company is receiving money from Hong Kong

The Viennese bicycle start-up Woom has received fresh capital. According to Gründerszene the amount is said to be in the double-digit millions. In addition to the core investor Bregal Unternehmerkapital (BU), which is expanding its investment, the Jebsen Group is also among the investors.

The Hong Kong-based investor has acquired a minority stake of 15 percent in the company, as reported by Gründerszene. The purchase of the shares was signed on December 23. Subject to regulatory approval, the Jebsen Group will now hold 15 percent of Woom.

Jebsen wants to open up the market in Asia, particularly China, for western companies. This will also be interesting for Woom, even if a spokesperson denies concrete plans to Gründerszene. The Viennese start-up will be celebrating its tenth anniversary next year. According to its own figures, it has had an average annual growth rate of around 50 percent during this time. In 2022, it will exceed the 100 million euro turnover mark for the first time.

Woom was founded by Marcus Ihlenfeld and Christian Bezdeka and manufactures children's bikes. They offer a standard bike in six sizes that comes without prints or patterns. The start-up also sells a mountain bike in three sizes, as well as accessories such as helmets, bells and bottle cages. Customers pay 1,000 euros for a mountain bike, while the most expensive product is the e-mountain bike for 3,000 euros.