Active Partners Leads $23M Funding Round in Cycling Drivetrain Innovation Classified Cycling

London-based investment firm Active Partners is the lead investor in a $23 million financing round for Classified Cycling of Belgium, maker of a wireless transmission system for bicycles.

Other new investors in the company include Olympic and world champion professional riders Tom Boonen, Anna Van der Breggen, Andre Greipel and Marcel Kittel. Pilots also become Powershift ambassadors.

Bridford Investments also participated in the round, which was announced on December 1.

The investment will be used to accelerate the development of new products, says a press release from Classified.

The company, founded in 2019, will also hire more staff to establish new business partnerships with bicycle companies. Powershift was introduced to the market last year – the system is integrated into the rear wheel and replaces the front derailleur, the component that moves the chain from chainring to chainring when changing gears.

Classified is already in partnership with around forty brands, and the Powershift 2-speed hub is available from more than 25 distributors around the world.

The Powershift system complies with the technical racing rules of the world governing body for cycling sport, the Union Cycliste Internationale.

Classified will also introduce its Powershift technology to the e-bike market aimed at creating a lighter, more durable and more efficient drivetrain for e-bikes.

Nick Evans, Managing Partner at Active Partners, Chairman of Rapha and former Executive Chairman of Evans Cycles, joins Classified’s Board of Directors.

Patented Powershift technology, dubbed “disruptive” by Active Partners, allows riders to instantly shift gears under full load.

Classified CEO Mathias Plouvier said: “Shifting under load and improving efficiency are features required for ultimate performance and the next generation of e-mobility. With this new investment, we are well equipped to bring our technology to cyclists around the world.

The company was co-founded by Plouvier and Roëll van Druten; both worked in the automotive transmission industry.

Former World Champion rider Tom Boonen said: “When I met the Classified team, I was so amazed by their innovative products that I decided to invest in the company, not only for their technology but also for their desire to shake up the industry.”

Active Partners, founded in 2004, has previously invested in cycling brand Rapha, cycle retail group Evans Cycles, restaurant chain Leon and beer brand Northern Monk.

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