Woom raises double-digit million amount

In 2022, the bicycle start-up made more than 100 million euros in sales 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 it is said to be an amount 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 capital providers.

The Hong Kong investor is entering the company with a minority stake of 15 percent, as Gründerszene reports. The purchase of the shares was signed on December 23. If regulatory approval is now received, the Jebsen Group will hold 15 percent of Woom.

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

Woom was founded by Marcus Ihlenfeld and Christian Bezdeka and manufactures children's bicycles. They offer a standard bike in six sizes that comes without imprints or patterns. In addition, the start-up 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.