Hm, I've seen this or a similar design before – but where? I will try and find out …
Anyway, I believe this is a "folding bow", the "fishing reel" in the middle of the handle being a kind of hinge, but I am by no means sure.
German archery magazine "Traditionell Bogenschiessen" had a series of articles about old steel bows recently, but this one wasn't mentioned ...