What shaped Cowboy in 2023

Dear Cowboy Community,

While our team always has their eyes on the road ahead it's essential to pause and take a moment to reflect on the milestones and innovations that have shaped Cowboy this year.

2023 was a difficult year for the bike industry and resilience defined our approach. Our team's unwavering discipline and focus have propelled us to achieve substantial progress in both our products and services:

We innovated for a better ride experience

• Introduction of AdaptivePower; software which senses changes in the rider's environment and provides the right amount of power.
• In a pioneering move, we integrated Google's game-changing new bike-specific navigation into our app, providing alternative, faster, clean air routes.
• You can now seamlessly sync your Apple or Android Watch with our app
• The introduction of the upright, relaxed Cruiser model was a huge highlight, quickly becoming a rider favourite and receiving the Wallpaper* Most Revolutionary Personal Transport Award 2023.

We enhanced our Customer Operations for greater Service

• Our Retail Partner Network launched, simplifying access to buying and servicing our bikes locally via independent bike shops. We're working to make servicing even more convenient and are currently piloting a new 'on demand' service set to launch very soon.
• We enhanced the efficiency and accuracy of our customer service with an advanced bike diagnostic tool and our new Cowboy Chatbot providing more accurate outcomes, faster.
• This month we also opened the doors of our beautiful new store in our home city of Brussels.

Dedication to Our Community

• Our community has ridden a jaw-dropping 100 million kilometres in total, a testament to the reliability and popularity of our bikes.
• Continuous improvements to the Cowboy app, including new Share My Ride, Safety Alerts and Crash Hotspot data, reiterating our commitment to safety and enhanced riding experience.
• We continued our war on bike thieves with new and improved in-app Find My Bike experience; generating industry-leading retrieval rates.

Commitment to longevity and sustainable business practices

• Supply Chain Excellence: as the only B-Corp certified e-bike manufacturer, our efforts are ongoing to drive supply chain efficiency and cost reductions – via nearshoring and meticulous quality analysis – that reflect our commitment to sustainability and responsible business practices.
• Cruiser and software launches meant that July was Cowboy's best sales month to date, and first profitable month.
• Financial milestone: Cowboy secured €13m in additional financing in April from existing institutional investors and crowdfunding.
• We further strengthened the company's governance with global ecommerce and healthtech heavyweights Harpreet Singh Rai, of Oura, and Kevin Cornils of Beauty Pie and formerly Peloton.

As we reflect on 2023, we also remember Karim. We were devastated to announce the death of our beloved co-founder, colleague and dear friend, Karim Slaoui, aged just 36, following his cancer diagnosis. Without Karim there would be no Cowboy. His enduring legacy permeates every corner of our company, and his guiding principles to “Be optimistic and innovate'' continue to inspire us daily. As we strive to make the world a better place, we carry forward Karim's spirit and commitment to positive change.

As we look ahead to 2024, our focus remains steadfast on innovation, enhancing your experience, and sustainable growth. Thank you for being a vital part of the Cowboy community.

Your feedback has played a crucial role in our journey this year, and I encourage you to share your thoughts and suggestions by replying directly to this email. Your input is invaluable to us.

Here's to more rides, more adventures, and continued success together,

Adrien Roose
Co-Founder and CEO, Cowboy