Hammerhead Raises $4.2M
Hammerhead, creator of the Karoo cycling computer, has raised $4.2m in seed funding led by Primary Ventures and KB Partners, with participation from Courtside Ventures, Maveron, Drummond Road Capital, Robin Thurston, MapMyFitness cofounder, and Andy Ording, CEO of Zipp.
Founded in 2013, the New York-based startup began its journey by creating a hammer-shaped smartphone-connected navigation device for bicycle handlebars that worked by flashing LEDs at turns. The product was discontinued and replaced by Karoo – a cycling computer featuring a large color touchscreen and keyboard that supports navigation and training.
The device, which goes for $399, runs on a regularly updated Android-based operating system called Karoo OS, and the company plans on launching its own app store that will allow third-party software to run on the device.
“The next major innovation in cycling will take place in software. Great software has always been a focus at Hammerhead. The bicycle of the future will be intelligent and data-driven. It will guide riders to the safest roads and best trails. It will facilitate the right workouts to achieve an athlete’s fitness goals. It will speak to a world of connected sensors and it will facilitate smart fleet management for bikeshare.” – Pieter Morgan, Hammerhead CEO.
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