Hammerhead Secures $4 Million Investment for "Garmin Killer" Bicycle Computer
Hammerhead, maker of the Karoo cycling computer, has secured $4.1 million in funding. The round was led by Primary Venture Partners and KB Partners, and other investors included Courtside Ventures, Maveron, Robin Thurston, the co-founder of MapMyFitness and previously chief digital officer at Under Armour, and Andy Ording, CEO of Zipp.
Co-founded by South-Africa-born Piet Morgan, a childhood friend and riding buddy of four-time Tour de France winner Chris Froome, Hammerhead started in 2013 by creating a hammer-shaped smartphone-connected navigation device for bicycle handlebars that worked by flashing LEDs at turns. Hammerhead, now without its original product, launched the Karoo cycling computer last year. The Karoo—named for a South African desert, and available in the U.S. and Europe from the company website—is a navigation device and training aid, featuring a high-resolution, anti-glare touchscreen and many connectivity options for uploading maps and routes.