The sports world is ever-evolving when it comes to technological capabilities. From rings that can track your biometrics to shoes that make you feel as if you’re running on air, athletics are constantly pushing the boundaries of what’s possible. And in the cycling stratosphere, a recent acquisition points to the future capabilities of a bike.
SRAM, one of the world’s largest cycling groupset manufacturers, announced that it acquired Hammerhead, which is the fast-growing cycling computer brand that created the Karoo 2 GPS computer. Together they are working toward building the ultimate connected bike.
“We see a future in which the computer is a key component of the bike, analyzing data from the rider and controlling key elements of the bike. We are working to make this more seamless like apple has done with CarPlay” said Pieter Morgan, CEO and co-founder of Hammerhead.
This comes as COVID-19 brought about a dramatic increase in bicycle sales, with people looking for ways to exercise and get around. There was a reported 57% rise in cycling-related sales during the coronavirus pandemic. Bikes became the new “toilet paper” for a while as suppliers and manufacturers struggled to keep up with demand.
As more and more people are riding bikes and cities increasingly become more bike-friendly, SRAM saw tremendous potential in Hammerhead. The company’s cycling GPS computer (the Karoo 2) hit the market in late 2020 and since has won numerous awards, achieved 7x revenue growth, and is on the handlebars of the world’s top athletes like Chris Froome.
Eventually, the two companies are aiming to blend the technologies to create a seamlessly integrated bike. Again, think like a car’s dashboard on your handlebars.
“More connected bike technology allows the rider to stay focused on the road ahead and to stay present without worrying about where to go, or needing to stop to make small mechanical adjustments,” said Morgan. “The bike computer will ultimately make all this possible.”
Hammerhead already allows a rider to automatically turn on smart lights when they start a ride, view approaching cars on the screen via radar, and adjust or turn lights off mid-ride from the unit’s dashboard. Meanwhile, SRAM has a broad range of wireless AXS components that have expanded the range of bikes in road, mountain, triathlon, and gravel. Plus, they own several other cycling brands, including Zipp wheels and handlebars, RockShox suspension, TRUVATIV bars and cranks, TIME Sport pedals, and Quarq power technology.
Now, cycling industry experts are speculating that the android-based bike computer company could make SRAM’s phone-based apps controllable from your handlebars like SRAM AXS electronic shifting adjustments or Flight Attendant.
“The brand fit is seamless, and the same principles drive them as SRAM, which is innovation that improves the cycling experience,” SRAM CEO Ken Lousberg added. “We are excited at what the future holds.”
The terms of the deal have not been disclosed. Still, Hammerhead will remain a stand-alone brand within the SRAM portfolio, allowing it to entirely focus on innovation and product to serve its customers without the complexities and distractions of fundraising in the VC space.
