News
CYC Technology Group Closes $13 Million Series B to Accelerate Expansion Beyond Electric Mobility
Company reports Bonnell 805 first units now shipping, as 775MX scales production across 100+ global retail partners
HONG KONG — Sep 1, 2026 — CYC Technology Group, the innovative brand group shaping the future of electric mobility, today announced the close of a $13 million Series B funding round at an implied post-money valuation of approximately $300 million. The round was led by Brizan Ventures, with participation from Forebright Concerto AI, Peak Patience Capital Ventures and Googol Technology.
The financing comes as CYC Technology begins a deliberate expansion of its platform strategy moving beyond its roots in electric mobility to pursue opportunities in adjacent high-growth markets, including industrial robotics, autonomous mobile robots (AMR), and motion control systems. The company's proprietary EBMX high-power controller technology, validated through its Bonnell product line, positions CYC Technology to selectively support development cycles across these emerging categories.
"This round isn't just fuel for what we've already built, it's a signal of where we're going next," said Jon Chan, Chairman, CYC Technology Group. "Bonnell proved our platform under real-world, demanding conditions. Now we're applying that same engineering discipline to markets well beyond bikes."
"It's genuinely exciting to be part of a group with this kind of vision and the capabilities to actually back it up," said Christopher Gerardino, CEO of Ristretto and Head of Design, CYC Technology Group. "We're taking what we've built and pushing into industries we've never touched before. Good design translates across all of it. We've got so many exciting products coming down the pipeline."
"It's incredible to take technology this advanced and put it to work across so many different applications," said Jared Foster, CEO of EBMX Technology. "Our controllers are now finding their way into entirely new disciplines and platforms outside electric mobility — and this is just the beginning."
Bonnell 805 Ships First Units as 775MX Scales to Global Retail
CYC Technology confirmed that the first units of the Bonnell 805 are now shipping to customers, marking the model's official market entry. Alongside this, the company's Bonnell 775MX — launched in April 2025 — is now ramping production to meet demand, with the model scaling into more than 100 retail partners across global markets.
"Getting the 805 into riders' hands is a major milestone, and seeing 775MX scale to over 100 retail partners worldwide shows the demand is real," said Mathew Wauters, CEO of Bonnell. "Together, these launches validate the broader platform we're now extending into new markets."
CYC Technology confirmed that additional products are in development and will be announced in the coming months, continuing the company's cadence of platform-driven releases across its portfolio.
About CYC Technology Group
CYC Technology Group is a Hong Kong-based innovator building brands that shape the future of electric mobility, including Ristretto, Bonnell, and EBMX Global. Founded in 2017, the company has raised over $42M to date across multiple funding rounds.
Media Contact
Email: contact@cyc-technology.com
News
CYC Technology Group Closes $13 Million Series B to Accelerate Expansion Beyond Electric Mobility
Company reports Bonnell 805 first units now shipping, as 775MX scales production across 100+ global retail partners
HONG KONG — Sep 1, 2026 — CYC Technology Group, the innovative brand group shaping the future of electric mobility, today announced the close of a $13 million Series B funding round at an implied post-money valuation of approximately $300 million. The round was led by Brizan Ventures, with participation from Forebright Concerto AI, Peak Patience Capital Ventures and Googol Technology.
The financing comes as CYC Technology begins a deliberate expansion of its platform strategy moving beyond its roots in electric mobility to pursue opportunities in adjacent high-growth markets, including industrial robotics, autonomous mobile robots (AMR), and motion control systems. The company's proprietary EBMX high-power controller technology, validated through its Bonnell product line, positions CYC Technology to selectively support development cycles across these emerging categories.
"This round isn't just fuel for what we've already built, it's a signal of where we're going next," said Jon Chan, Chairman, CYC Technology Group. "Bonnell proved our platform under real-world, demanding conditions. Now we're applying that same engineering discipline to markets well beyond bikes."
"It's genuinely exciting to be part of a group with this kind of vision and the capabilities to actually back it up," said Christopher Gerardino, CEO of Ristretto and Head of Design, CYC Technology Group. "We're taking what we've built and pushing into industries we've never touched before. Good design translates across all of it. We've got so many exciting products coming down the pipeline."
"It's incredible to take technology this advanced and put it to work across so many different applications," said Jared Foster, CEO of EBMX Technology. "Our controllers are now finding their way into entirely new disciplines and platforms outside electric mobility — and this is just the beginning."
Bonnell 805 Ships First Units as 775MX Scales to Global Retail
CYC Technology confirmed that the first units of the Bonnell 805 are now shipping to customers, marking the model's official market entry. Alongside this, the company's Bonnell 775MX — launched in April 2025 — is now ramping production to meet demand, with the model scaling into more than 100 retail partners across global markets.
"Getting the 805 into riders' hands is a major milestone, and seeing 775MX scale to over 100 retail partners worldwide shows the demand is real," said Mathew Wauters, CEO of Bonnell. "Together, these launches validate the broader platform we're now extending into new markets."
CYC Technology confirmed that additional products are in development and will be announced in the coming months, continuing the company's cadence of platform-driven releases across its portfolio.
About CYC Technology Group
CYC Technology Group is a Hong Kong-based innovator building brands that shape the future of electric mobility, including Ristretto, Bonnell, and EBMX Global. Founded in 2017, the company has raised over $42M to date across multiple funding rounds.
Media Contact
Email: contact@cyc-technology.com