Blubrake announced securing $6 million in Series A funding from e-Novia
Blubrake, a Milan, Italy-based manufacturer of components for bikes, announced that it raised $6 million in a series A funding round.
The money was provided by existing investor e-Novia, and included contributions from Progress Tech Transfer, a VC fund for sustainable technologies, and angel investors Andrea Perin and Michele Scannavini.
Blubrake, led by Fabio Todeschini and founded in 2015 as part of the E-Novia group, developed an ABS system (anti-lock braking system) for e-bikes completely integrated inside the frame. The system continuously controls the hydraulic pressure of the front brake to guarantee smoother braking and increased stability and manoeuvrability of the e-bike. In particular, the system intervenes to avoid two very dangerous events: front wheel lock-up and rear wheel lift-off.
Prior to this round, Blubrake raised about $4 million.