Ellex Raidla has advised Estonian box bikes manufacturer KP Cyclery on investments into the company by Comodule OU, among others.
Comodule provides IoT solutions for shared mobility operators and bicycle manufacturers to reduce global environmental pollution and traffic congestion.
KP Cyclery was launched in Denmark in 2014. According to Ellex, the additional funding is planned to be used primarily for the further development, marketing, and increase of inventory of the Nighthawk box bike. “The company aims to launch an electric bicycle in 2022, which will be connected to an electronics module developed and manufactured by Comodule. The module allows individuals to track the location of their bike, maintenance cycles, and information about the bike from a mobile app.”
Ellex’s team included Counsel Antti Perli.
Ellex could not provide more information on the deal.